Success tips from gate startups
The success tips of the gate startups? Their formula for success? We believe that support and knowledge-sharing within the community drives the growth of a startup. That’s why our gate founders share their best advice with us – the things that have made them the entrepreneurs they are today.
It all began in 2018 with one idea and one founder, Dr. Daniel Carton. Today, Daniel’s customers include Vorwerk and Nokia. And an office in the incubator became his own office in Munich. Gate alumnus BotCraft is a specialist service provider for Industry 4.0 software. The team pursues a holistic approach that combines embedded systems and cloud native. The products pave the way for companies to secure competitive advantages in the Industry 4.0 context.
Daniel, what advice would you pass on to our startups and the community?
Tip 1: Good ideas themselves are not everything when it comes to attracting investors. It is crucial that your ideas can be implemented. The real challenge is the operationalization. This is what you should focus on.
Tip 2: There is strength in crisis. In the past few years, we too have been affected by several global challenges. In such situations, there are only two options: to give up or to “ head through the wall”. I mean dealing with the problem and stubbornly going through the crisis.
Tip 3: Start building your brand early – a valuable piece of advice that I owe to gate coach Andreas Preen. In order to do so, you need to plan and invest a targeted budget. This is something many founders greatly underestimate. By making this commitment, you signal that you are committed to your startup. You become visible to the outside world and increase confidence in your company.
TUM Carbon Removal Initiative e.V. is a students’ initiative at the gate. Specializing in sustainable technologies, the team focuses on a holistic approach that combines innovative technologies of carbon removal and long-term storage of carbon dioxide in the form of dry ice. These products help to mitigate the effects of climate change and shape a carbon-neutral future.
Florian, what tips for success would you pass on to students who are interested in starting a business?
Tip 1: If you are already thinking about founding your own startup while you are still at university, you need not jump in at the deep end straight away. A good way to get an impression of the challenges and opportunities associated with founding a company is to work in a startup or a student initiative such as TUM Carbon. Not only does this allow you to build valuable contacts with people who have similar ambitions, but you can also gradually acquire the necessary skills to become a founder.
Tip 2: Building a startup or, as in our case, a student initiative requires the ability to deal with a wide variety of problems that cannot always be foreseen. However, in order to solve these problems, a high degree of flexibility and a broad skillset are helpful. In my opinion, a combination of technological, business, communication and social skills characterizes many successful entrepreneurs.
Tip 3: If you have an idea that you’re passionate about and would like to unleash its potential, then dare to implement it! You will not always be able to predict whether the concept or technology will work in practice and if you don’t try, you’ve already lost from the very beginning. Such a project is a lengthy process and nobody brings all the skills and competencies with him or her right from the start.
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