WEBVTT 00:00:05.197 --> 00:00:12.757 Welcome to StartupRed.io, your podcast and YouTube blog covering the German 00:00:12.757 --> 00:00:17.677 startup scene with news, interviews, and live events. 00:00:19.577 --> 00:00:23.457 Hello and welcome everybody. This is Joe from StartupRed.io, 00:00:23.677 --> 00:00:28.057 your startup podcast, YouTube blog, and internet radio station from Germany, 00:00:28.197 --> 00:00:30.757 Austria, and Switzerland, bringing you today, ta-da, 00:00:31.217 --> 00:00:33.577 another entrepreneur here who 00:00:33.577 --> 00:00:39.497 has a very, very interesting story to tell from the big city of Wildau. 00:00:39.757 --> 00:00:40.997 Am I right, Alex? 00:00:41.357 --> 00:00:46.537 You're completely right, Joe. You guys have been located in Berlin. 00:00:46.537 --> 00:00:48.897 I've seen registered there 2019. 00:00:49.577 --> 00:00:53.417 How did you move out to Wildau? 00:00:54.077 --> 00:00:58.277 So whenever you do big hardware, you need a lot of space. 00:00:58.777 --> 00:01:03.817 And Berlin is a crowded, packed city, and you wouldn't find that kind of location, 00:01:03.977 --> 00:01:06.157 a workshop in the city center. 00:01:06.377 --> 00:01:11.277 Hence, we had to move outside the city, and Brandenburg just has a lot of good 00:01:11.277 --> 00:01:13.117 places, conveniently located, 00:01:13.337 --> 00:01:19.917 and also cheaper rent, which is not something you should give as easily as a 00:01:19.917 --> 00:01:22.817 low-liquidity startup. I see. 00:01:24.037 --> 00:01:31.917 Given the picture, most people will only listen to this as an audio podcast 00:01:31.917 --> 00:01:33.437 or listen to the radio station. 00:01:33.557 --> 00:01:39.257 But the people who are not seeing this, we may tell that you have a very big 00:01:39.257 --> 00:01:40.897 warehouse in the background. 00:01:41.397 --> 00:01:49.357 Yes. So I'm sitting in one of our warehouses. We have two. This one is 1,300 square meters. 00:01:49.777 --> 00:01:54.957 And this is where we have portly storage, but also the R&D facility. 00:01:55.237 --> 00:01:57.677 So we are developing our chargers here. 00:01:58.077 --> 00:02:02.417 And this is also the space we need. We have forklift. We have a crane. 00:02:02.677 --> 00:02:08.297 We have doors that are eligible for trucks to come in and offload. 00:02:08.497 --> 00:02:11.917 So this is really something that you wouldn't expect from a regular startup, 00:02:12.077 --> 00:02:17.357 but rather from a big hardware producing company. A lot of toys for the good boys. 00:02:18.377 --> 00:02:26.017 1,200 square meter for our American audience, that's almost 13,000 square feet. 00:02:27.406 --> 00:02:32.786 Now we got the conversion out of the way. Maybe I had a little help from the internet. 00:02:34.066 --> 00:02:39.826 Alex, we may tell our audience that this is the first interview we are doing 00:02:39.826 --> 00:02:45.806 with the startup that at the time of the recording has been officially insolvent. 00:02:45.966 --> 00:02:48.286 But you guys have been rescued. 00:02:48.566 --> 00:02:52.126 It's already, as we say in Germany, in trocken and tusha. 00:02:52.166 --> 00:02:56.626 And so it's already a sealed deal. But we have to wait a little bit for the 00:02:56.626 --> 00:03:01.426 publication of this interview, around two weeks until it becomes official. 00:03:01.666 --> 00:03:06.086 That will be an interesting part of the story. But let us first talk a little 00:03:06.086 --> 00:03:10.986 bit about you, because you are a pretty interesting person. 00:03:11.146 --> 00:03:14.366 Because, as always, we link your LinkedIn profile here. 00:03:14.966 --> 00:03:21.386 I've seen a lot of Shanghai in your CV pretty early on. How did this happen? 00:03:22.006 --> 00:03:26.266 So I was lucky enough to be born to a family that moved a lot internationally 00:03:26.266 --> 00:03:28.126 and also brought to China. 00:03:28.486 --> 00:03:31.906 So I spent my high school years in Shanghai. 00:03:32.386 --> 00:03:39.906 And this is a time or let's say at that age between 14 and 18 is something where 00:03:39.906 --> 00:03:43.406 you make a lot of memories and also where your personality gets shaped. 00:03:43.406 --> 00:03:49.026 And this is growing up internationally and seeing this dynamics of the Chinese market back in the day. 00:03:49.166 --> 00:03:55.446 This was something that shaped me and also had a left a pretty deep impression 00:03:55.446 --> 00:03:58.966 on what can be done if you have the will, 00:03:58.966 --> 00:04:04.966 if you have the means also to start something big and you can dream big and 00:04:04.966 --> 00:04:06.786 your dreams may also come true. 00:04:07.066 --> 00:04:12.126 So this is something that Shanghai and China, that dynamic of the market really left in me. 00:04:12.726 --> 00:04:17.946 I'm wondering, because we talked before about different experiences from being 00:04:17.946 --> 00:04:21.806 in China, did you bring like any habits from China with you? 00:04:21.926 --> 00:04:24.466 For example, preferring tea over coffee or something? 00:04:24.746 --> 00:04:28.666 For me personally, it was that I really love hot pot. 00:04:28.986 --> 00:04:30.966 Fortunately, there's a restaurant here in Frankfurt. 00:04:31.826 --> 00:04:36.146 Yeah, hot pot, I mean, the cuisine, definitely. I cook Chinese at home. 00:04:36.446 --> 00:04:40.546 This is something I still love. And I think something in business, 00:04:40.706 --> 00:04:43.086 a habit is I always take business cards with two hands. 00:04:43.926 --> 00:04:48.826 This is something I still do because that is a polite way in Asia to do so, 00:04:49.246 --> 00:04:52.126 hand over and accepting business cards. This is what I still do. 00:04:53.686 --> 00:04:59.766 I see. I see. Uh-huh. So there is a lot of interesting stuff about you. 00:04:59.766 --> 00:05:07.786 We have been admitting to each other that we have the usual suspects in our 00:05:07.786 --> 00:05:10.006 CV. For example, I see... 00:05:11.130 --> 00:05:16.190 Working for Munich Re, working for Big Four Consultancy, 00:05:16.610 --> 00:05:25.610 working at Bosch, and then getting into an association as project manager, 00:05:25.810 --> 00:05:34.570 and then getting more into renewable energy and to the founding of Me Energy here in January 2018. 00:05:34.630 --> 00:05:38.030 Can you take us through this journey, through this ride? 00:05:38.710 --> 00:05:43.930 Yeah, sure. So during my studies, I was always eager to start something. 00:05:44.130 --> 00:05:48.370 And there's also a connection to China because one of the first ventures I did 00:05:48.370 --> 00:05:56.550 on my own was Fuyu Baobei, which translates to honey or, let's say, 00:05:57.030 --> 00:05:59.530 my small precious baby, sort of. 00:05:59.830 --> 00:06:04.650 This is something that I started on, which was an export for milk, 00:06:04.810 --> 00:06:10.670 powder and baby products. So I levered my connection already even early in my 00:06:10.670 --> 00:06:12.570 study days because I always wanted to be independent. 00:06:12.850 --> 00:06:18.670 I wanted to make my own money, not rely on my parents. This was a main driver also in my studies. 00:06:19.970 --> 00:06:26.330 And this was fairly successful. It was sort of from just a scandal that was 00:06:26.330 --> 00:06:30.850 back in the day that China had problems having with milk powder. 00:06:31.710 --> 00:06:36.010 And there was a scandal that pesticides were found. and hence there was a market 00:06:36.010 --> 00:06:42.410 all of a sudden for European and American milk powder that was now demanded in China. 00:06:42.810 --> 00:06:48.790 So this seized the opportunity and started this business together with friends I still had in China. 00:06:49.030 --> 00:06:53.610 And this was the first, let's say, foot I set into the entrepreneurial space. 00:06:53.810 --> 00:06:58.250 It was only me in the beginning, then later on I hired two students, 00:06:58.430 --> 00:07:04.150 so it was nothing big, but still I could make a living And it felt good to have 00:07:04.150 --> 00:07:07.670 to earn your own money and be independent in that sense. 00:07:08.474 --> 00:07:12.154 At the same time, I mean, I'm a German, and Germans, especially your family, 00:07:12.354 --> 00:07:13.514 tend to be rather conservative. 00:07:13.914 --> 00:07:17.194 So they push you towards getting a real job. 00:07:17.594 --> 00:07:21.334 And real job in German, translated from German, means, okay, 00:07:21.494 --> 00:07:25.374 go into a big company, have a secure job. 00:07:25.594 --> 00:07:31.654 And this is what, especially my dad, was always, let's say, setting or having 00:07:31.654 --> 00:07:33.974 the path laid out for me. This is what you should do, son. 00:07:35.134 --> 00:07:39.494 So that's what I also tried. I mean, I was always, okay, I thought, 00:07:39.614 --> 00:07:42.514 okay, I don't know everything by now. Why not try? I'm still young. 00:07:43.214 --> 00:07:49.034 So I tried working at KPMG, one of the big fours, and I worked in M&A, 00:07:49.154 --> 00:07:54.534 which was an interesting time, also intense, learned a lot, so really steep learning curve. 00:07:54.674 --> 00:08:00.534 But I figured out, okay, this is not something I could see myself doing for 00:08:00.534 --> 00:08:04.974 a long time. And so I stepped foot into another space. So tried out, 00:08:05.054 --> 00:08:06.254 okay, something completely different. 00:08:07.414 --> 00:08:11.854 And that was going into the automotive industry, working at Bosch. 00:08:12.254 --> 00:08:16.794 So this was, for me, something that was not motivated monetarily, 00:08:16.814 --> 00:08:21.414 but something that was also motivated in the sense that let's try out the big 00:08:21.414 --> 00:08:23.594 enterprise. Let's try out a secure job. 00:08:23.794 --> 00:08:30.014 Let's try out shaping something bigger, shaping something that is the transition 00:08:30.014 --> 00:08:36.254 to sustainable mobility, because that was a time when e-mobility was really in the cradle. 00:08:36.254 --> 00:08:41.074 Where Tesla had his first Roadster just released, BMW had his i3. 00:08:41.454 --> 00:08:43.954 So this was something that was also pushing me and said, okay, 00:08:44.034 --> 00:08:45.874 there is something new on the horizon coming. 00:08:46.054 --> 00:08:50.054 That's something where I see, okay, I could also, I can be part of this transition. 00:08:50.714 --> 00:08:54.574 And one of the major players in this transition is Bosch. It's a large automotive 00:08:54.574 --> 00:08:58.214 supplier, so I had good access to this, the company, and hence said, 00:08:58.294 --> 00:09:02.194 okay, let's work in R&D at the forefront of development of this new technology. 00:09:03.714 --> 00:09:06.814 And so I did battery and fuel cell research. Bosch. 00:09:06.854 --> 00:09:12.034 Um, this was, um, established, I mean, the work was, was satisfying and also, 00:09:12.034 --> 00:09:14.734 uh, learning so much about this technology. 00:09:15.034 --> 00:09:19.694 However, being such a small wheel in such a large organization, 00:09:19.854 --> 00:09:24.354 such a large machinery, that was something that was frustrating to me. 00:09:25.156 --> 00:09:30.216 But having that access or having access to that technology can also, 00:09:30.516 --> 00:09:35.336 this sparks a lot of creative thinking because you're surrounded by a lot of brilliant minds. 00:09:35.536 --> 00:09:39.456 You're surrounded with a lot of opportunities that just lie around on the floor 00:09:39.456 --> 00:09:45.096 in such a big organization and a lot of free time to do so, to think about this. 00:09:45.096 --> 00:09:51.236 And this is also, let's say, the starting point where me energy or the thinking 00:09:51.236 --> 00:09:56.956 about me energy also originated is at the time at Bosch, where I also had my 00:09:56.956 --> 00:10:00.076 various experiences with e-mobility and the technology behind. 00:10:00.696 --> 00:10:07.336 You've been saying great ideas lying around on the floor in big companies. 00:10:08.056 --> 00:10:14.476 I would be personally, if I would be an executive, very interested how to harvest 00:10:14.476 --> 00:10:19.996 those ideas, but that'll be a completely different recording here. 00:10:21.276 --> 00:10:27.836 Let's go a little bit to the company, the energy with a very unique concept. 00:10:28.456 --> 00:10:33.756 Was there like a specific moment or challenge in your career that made you think, 00:10:33.976 --> 00:10:36.956 you know what, the world really needs that? 00:10:38.276 --> 00:10:45.996 Bioethanol-powered fast chargers. Can you tell, first, we may tell the audience 00:10:45.996 --> 00:10:51.696 what your product is and then how you got this spark. 00:10:52.236 --> 00:10:57.076 Okay, so what we developed at Mee Energy or what we developed and now we are 00:10:57.076 --> 00:11:01.036 having in the market is off-grid fast charging stations. 00:11:01.356 --> 00:11:06.116 So a charging station that produces its own electricity from bioethanol. 00:11:06.116 --> 00:11:11.356 So a renewable, sustainable energy carrier that is liquid, that can be sourced 00:11:11.356 --> 00:11:16.716 literally anywhere in the globe, and that is always refilled into the stations. 00:11:16.716 --> 00:11:21.276 We always have the means, independent of where you are, independent of any infrastructure 00:11:21.276 --> 00:11:23.076 to fast charge any kind of vehicle. 00:11:24.004 --> 00:11:30.184 And this is especially used in areas where the power grid is not strong enough 00:11:30.184 --> 00:11:34.444 to support fast charging, because fast charging is a real constraint on the grid. 00:11:34.844 --> 00:11:39.744 Just to give the audience a bit of an idea. So you can charge one Tesla or you 00:11:39.744 --> 00:11:41.264 can power a 20 story building. 00:11:41.624 --> 00:11:45.384 It's about the same amount of energy you use for this process. 00:11:46.004 --> 00:11:49.924 So if you then think about charging stations as 20-story buildings, 00:11:50.244 --> 00:11:56.744 you have the sort of a picture of how much the power grid has to handle in the 00:11:56.744 --> 00:11:59.924 future and what a charging park actually means. 00:12:00.264 --> 00:12:07.084 So this is why or this is really why off-grid charging is a puzzle piece for 00:12:07.084 --> 00:12:08.264 the transition to e-mobility. 00:12:08.384 --> 00:12:11.104 But I think we'll tap into that space later on. 00:12:12.624 --> 00:12:21.544 But having this picture in mind, there was really one eureka moment or one moment 00:12:21.544 --> 00:12:25.984 where I had this problem, where I experienced the constraints of the power grid. 00:12:26.124 --> 00:12:30.384 And that was when I was working at Bosch. So this is also why great ideas lie 00:12:30.384 --> 00:12:34.764 around in large organizations, because people like me make experiences. 00:12:34.764 --> 00:12:39.824 You are out on a test drive with an electric car with little to no range. 00:12:39.824 --> 00:12:46.444 And you approach a charging station and that charging station is currently turned off. 00:12:46.844 --> 00:12:51.404 Why? Because it was winter. The power grid was at its limit. 00:12:51.604 --> 00:12:55.244 And the first thing at peak power you turn off is charging stations. 00:12:55.744 --> 00:13:00.144 So I couldn't charge at this charging station when I needed to. 00:13:00.504 --> 00:13:03.744 It was winter. It was cold. And I had no other. 00:13:04.024 --> 00:13:09.864 I couldn't reach another charger. So it was 2016, which also says a lot about 00:13:09.864 --> 00:13:13.584 the development of e-mobility back in the day. So there was little to no charges anywhere. 00:13:14.184 --> 00:13:22.304 And I had to go around in this small village in the Swabian Alps and ask for 00:13:22.304 --> 00:13:27.144 someone to give me his household plug so I can recharge my BMWs. 00:13:27.722 --> 00:13:32.382 And this was, I rang on random doors. I talked to a lot of strangers that looked 00:13:32.382 --> 00:13:37.042 at me like an alien. So what are you and why are you ringing on my door, first of all? 00:13:37.522 --> 00:13:41.782 Second of all, why are you driving an electric car? I mean, Swabia is the heart 00:13:41.782 --> 00:13:43.442 of the automotive industry in Germany. 00:13:44.122 --> 00:13:50.782 And it's all combustion. So this is why, this was an experience I had where 00:13:50.782 --> 00:13:57.382 that made me think about a lot why and how we can make this transition happen. 00:13:57.382 --> 00:14:00.522 And as I said before, I was really passionate about this new development, 00:14:00.822 --> 00:14:02.622 the sustainable mobility. 00:14:03.002 --> 00:14:09.462 And this gave me another spin on this transition. So where are the bottlenecks? 00:14:09.922 --> 00:14:13.782 This is everything in the service. Always find this pain point. 00:14:14.042 --> 00:14:20.402 And this pain point was definitely the brand infrastructure because that cannot 00:14:20.402 --> 00:14:25.022 sustain our charging needs in the future because we want to have convenient mobility. 00:14:25.022 --> 00:14:29.422 We don't want to, like me at that time, stay for six, seven, 00:14:29.562 --> 00:14:31.962 eight hours at a household plug to continue the journey. 00:14:32.322 --> 00:14:37.382 You want to have a sort of splash and dash with 10 minutes, 30 minutes. 00:14:37.502 --> 00:14:39.742 That's what we want to have in recharging as well. 00:14:41.182 --> 00:14:44.402 And the problem will not be the cars, will not be the hardware, 00:14:44.582 --> 00:14:47.922 but the problem will be the infrastructure behind, which is the power grid. 00:14:48.042 --> 00:14:52.762 And this is what I realized in this moment. And then as an engineer, 00:14:53.142 --> 00:14:58.042 well, you're prone to or programmed to find solutions to problems and not just 00:14:58.042 --> 00:15:01.882 see them as a pretty picture somewhere lying around. 00:15:02.122 --> 00:15:07.042 And if you have eight hours in a car to think about, then, well, 00:15:07.242 --> 00:15:12.402 that's the first starting point to find solutions. And that led me eventually 00:15:12.402 --> 00:15:16.102 to bioethanol-powered off-grid fast chargers. 00:15:16.902 --> 00:15:20.502 You are an engineer by trade. how 00:15:20.502 --> 00:15:25.082 did your technical expertise shape your approach to building a startup? 00:15:25.342 --> 00:15:30.562 Did it give you an edge or did you feel like a student again navigating the world of business? 00:15:30.982 --> 00:15:35.682 So, I mean, I think the most important skill you learn as an engineer is that 00:15:35.682 --> 00:15:40.022 you have a large problem and you can break down this large problem into small 00:15:40.022 --> 00:15:44.322 problems, solve these small problems and then set the puzzle back together to 00:15:44.322 --> 00:15:45.642 have the big problem solved, 00:15:46.762 --> 00:15:48.542 independent of your trade. 00:15:49.724 --> 00:15:55.124 However, I mean, knowing I'm a chemical engineer by training and knowing about 00:15:55.124 --> 00:15:57.864 energy flows, about physics in general, 00:15:58.384 --> 00:16:02.544 also about chemistry, battery chemistry and all those chemical reactions that 00:16:02.544 --> 00:16:04.844 happen when you use bioethanols. 00:16:05.144 --> 00:16:11.744 That also gave us an edge in the beginning because the concept was built on 00:16:11.744 --> 00:16:13.584 these basic calculations. 00:16:14.384 --> 00:16:18.344 Later on, I focused more on business topics. 00:16:18.344 --> 00:16:23.244 So, yes, as a startup founder, you tend to be a bit too naive. 00:16:23.244 --> 00:16:29.944 You tend to be a bit overconscious and then take on things, 00:16:30.124 --> 00:16:36.084 tackle things where you easily feel overwhelmed, where you easily feel like 00:16:36.084 --> 00:16:39.544 a student that has to navigate the business world. Definitely. 00:16:40.744 --> 00:16:45.964 But this is also the beauty of it. And this is also because you grow out of 00:16:45.964 --> 00:16:48.324 these challenges that you have to navigate. 00:16:48.624 --> 00:16:55.784 And I was lucky enough to navigate all of those challenges, including dooming 00:16:55.784 --> 00:17:00.344 insolvency over the past years and came out just fine. 00:17:00.564 --> 00:17:05.484 So I think on this, it is worth trying definitely. 00:17:05.664 --> 00:17:09.784 And this is the steepest learning curve you can ever take is trying to be an entrepreneur. 00:17:10.664 --> 00:17:19.164 You already talked about the insolvency you had to file in summer of 2024 for insolvency. 00:17:21.304 --> 00:17:23.904 This must have been one of the most challenging days. 00:17:25.247 --> 00:17:31.227 Of your life um can you take us back to the days and the weeks and month leading 00:17:31.227 --> 00:17:38.307 up to it what was it like what was the hardest part and what have you learned as a founder as leader. 00:17:39.907 --> 00:17:45.647 So in general i mean this is the moment where your dreams are shattered i guess 00:17:45.647 --> 00:17:47.907 is what everybody things of instantly. 00:17:48.727 --> 00:17:55.687 However, when you, I mean, you come also from a lot of, I mean, 00:17:55.907 --> 00:18:00.987 a lot of hope that you had, a lot of work you put in, because we were in a financing round back then. 00:18:01.267 --> 00:18:09.547 We, and the financing round due to, let's say, market climate plus a few shareholder 00:18:09.547 --> 00:18:13.147 commitments that weren't honored in the end fell apart. 00:18:13.807 --> 00:18:23.147 And this is something that's also on a personal level, had a lot of frustration coming with this event. 00:18:23.647 --> 00:18:30.887 But let's say the quality one has as a good entrepreneur, I think, is to never give up. 00:18:31.027 --> 00:18:35.307 And if you're lying in the dust, you stand up again and you fight again. 00:18:35.907 --> 00:18:40.167 And this is, and this is what I want to say to all of those founders out there, 00:18:40.467 --> 00:18:45.267 I mean, especially in Germany, this is considered as a failure in insolvency, but it's not. 00:18:45.407 --> 00:18:50.207 And it's also a chance because this gives you a chance to restructure the company. 00:18:50.227 --> 00:18:57.167 It gives you a chance to get access to new fundings, to new funds you wouldn't 00:18:57.167 --> 00:19:03.027 even consider that are out there just thinking about your regular startup investments. 00:19:04.127 --> 00:19:08.987 And this is what then happened. So I was lucky enough that one of our shareholders 00:19:08.987 --> 00:19:16.947 was well connected in this space and had the right consultants to help us with the process. 00:19:17.307 --> 00:19:22.447 And in the very first meeting I remember today, it is like they said, 00:19:22.507 --> 00:19:25.347 OK, this is not the end. This is the beginning. 00:19:25.667 --> 00:19:30.327 It's a great chance to save the company and save everything with it. 00:19:31.227 --> 00:19:35.687 You just have to work as hard as you did in the past, but now on a different 00:19:35.687 --> 00:19:39.107 path. And so this is what we did. 00:19:39.647 --> 00:19:47.827 And there are a lot of companies and funds that are specialized on complex slash distress situations. 00:19:48.247 --> 00:19:50.147 That's what it's called, the terms. 00:19:50.627 --> 00:19:54.727 And those are the companies we then approached. We approached MLA funds. 00:19:55.387 --> 00:20:00.327 We approached also, let's say, regular operating businesses, 00:20:00.327 --> 00:20:03.327 our customers and partners. 00:20:04.407 --> 00:20:12.207 And then also really rapidly had a feeling okay this is not the end this is 00:20:12.207 --> 00:20:15.287 a new beginning because we saw a light of the end of the tunnel because there 00:20:15.287 --> 00:20:16.587 was a lot of interest flowing in, 00:20:17.727 --> 00:20:24.227 from something that i mean from something that even in dire market conditions. 00:20:25.553 --> 00:20:29.193 There is a need for this technology that everybody immediately understood. 00:20:29.853 --> 00:20:36.853 So then instead of having this new financing round with a lot of multiples and 00:20:36.853 --> 00:20:38.553 a lot of startup investments, 00:20:38.773 --> 00:20:43.013 we found something that is now, let's say, good for the long term and found 00:20:43.013 --> 00:20:47.013 a new shareholder that bought the company. 00:20:48.013 --> 00:20:53.753 And with this, we are set for the future. We are on a long term growing path. 00:20:53.753 --> 00:20:57.773 It will not be triple or quadruple your revenues every year, 00:20:58.073 --> 00:20:59.713 but rather double. And this is fine. 00:21:00.713 --> 00:21:05.053 So this is, it's not a start. I mean, it's still a startup approach sort of, 00:21:05.593 --> 00:21:10.733 but not full throttle, but rather look for more long-term solution. 00:21:10.933 --> 00:21:15.293 And this is also something that this situation, let's say, sparked or triggered. 00:21:16.533 --> 00:21:19.973 So your your recharging solution 00:21:19.973 --> 00:21:23.553 viewed by bioethanol is basically it 00:21:23.553 --> 00:21:29.793 looks from the outside like an overseas container um i assume you choose that 00:21:29.793 --> 00:21:35.953 dimension on purpose so it can be easily shipped where basically inside the 00:21:35.953 --> 00:21:41.553 bioethanol is processed into energy and outside you have a plug and you can fast charge your car. 00:21:41.913 --> 00:21:44.053 Would that be an adequate description? 00:21:44.773 --> 00:21:47.973 Yes. I mean, from the front, it looks like a charging station, 00:21:47.973 --> 00:21:50.553 and then there is a big container around. 00:21:50.893 --> 00:21:55.013 And this is really – so it makes space for the interior, which is the tank, 00:21:55.313 --> 00:21:58.733 then the generator, and then the hardware for fast charging. 00:21:59.513 --> 00:22:03.653 And, yes, we designed it on purpose so it fits with parking space. 00:22:03.653 --> 00:22:05.673 At the same time, it's easily shippable. 00:22:06.533 --> 00:22:08.173 So, yes, well described. 00:22:09.113 --> 00:22:14.933 You already said me, so it's a team effort, me, energy. 00:22:15.433 --> 00:22:19.453 Phonic stories like that are usually packed with stuff like drama, 00:22:19.713 --> 00:22:21.653 breakthrough, and coffee overdoses. 00:22:21.893 --> 00:22:27.853 Could you share a little bit, a few behind-the-scenes anecdotes from the very early days? 00:22:28.113 --> 00:22:35.933 Yes. I mean, in the early days, it's all about, I mean, trying to fill that 00:22:35.933 --> 00:22:38.053 idea with actual content. 00:22:38.393 --> 00:22:40.893 So because when you start, you usually have a small prototype. 00:22:40.893 --> 00:22:42.493 You don't have, you have a presentation. 00:22:42.793 --> 00:22:46.793 And then there was this big moment coming for us. We had our first funds raised. 00:22:46.993 --> 00:22:52.033 And then we had a big display and an opening ceremony for one of our chargers 00:22:52.033 --> 00:22:57.273 here, which were all the local politicians were invited. and we had also the 00:22:57.273 --> 00:23:00.933 head of a local state here coming to the inauguration. 00:23:01.493 --> 00:23:03.733 And the problem is we worked all night. 00:23:04.812 --> 00:23:09.492 For the past week. I mean, it was 24-7 shift, so to say. 00:23:12.012 --> 00:23:19.212 But we weren't finished because that day we expected cars and vehicles to charge. 00:23:19.372 --> 00:23:23.932 For example, a Mercedes truck, we did not ever charge before. 00:23:24.132 --> 00:23:28.612 And we knew, okay, whenever we have an unknown vehicle, there can be problems. 00:23:29.412 --> 00:23:34.472 So we tried everything, but we were not ready at the time of the presentation. 00:23:34.792 --> 00:23:41.632 So what we did was then we rented those vehicles or let's say one vehicle the 00:23:41.632 --> 00:23:46.772 day before, which was an e-truck, and then placed two software engineers inside 00:23:46.772 --> 00:23:48.732 this e-truck for the presentation. 00:23:48.732 --> 00:23:54.432 Had just a small data cable coming out into charger to make sure an overview, 00:23:54.792 --> 00:24:00.152 if anything goes wrong, you can then, let's say, override it and do a manual 00:24:00.152 --> 00:24:03.712 mode for charging instead of having this automated one. 00:24:04.172 --> 00:24:09.572 This was then, funnily enough, was also spotted by the local press, 00:24:09.592 --> 00:24:16.852 which thought it was hilarious that there are two people in the truck with a small desk, 00:24:17.212 --> 00:24:21.032 two monitors, and a laptop, which was then the picture of the day. 00:24:21.232 --> 00:24:22.952 Some even didn't display the head of state. 00:24:23.192 --> 00:24:30.012 Some only displayed the two software engineers inside the truck with our charger in the back. 00:24:31.472 --> 00:24:37.652 You already said, what was the other picture besides the two engineers? The other one was? 00:24:37.852 --> 00:24:40.932 The head of state inaugurating our charger. 00:24:41.292 --> 00:24:46.652 That was at the time and still is at the time of recording Olaf Scholz. So he was also visiting. 00:24:46.912 --> 00:24:49.292 I think that that is pretty cool. 00:24:50.612 --> 00:24:54.492 I mean, this was two different events, though. I mean, it was a local head of state of Brandenburg. 00:24:55.012 --> 00:25:00.292 When Olaf Scholz visited, everything was working well. I mean, 00:25:00.612 --> 00:25:01.812 back then we were operational. 00:25:02.092 --> 00:25:04.592 Everything was in the market. And I mean, the E-Arc trusses, 00:25:04.712 --> 00:25:08.232 so the Mercedes trucks, those are the ones we charge on a regular basis. 00:25:08.272 --> 00:25:13.192 So this was nothing to worry about when he visited. It was more of the security 00:25:13.192 --> 00:25:16.672 aspect surrounding his visit that were more challenging. 00:25:17.232 --> 00:25:23.692 I see, I see. I attended a few events, he was also present and then it's a completely different game. 00:25:24.892 --> 00:25:28.932 You started in the e-mobility space and there's of course no easy task. 00:25:29.592 --> 00:25:34.452 Did you ever have doubts about the feasibility of your ID? 00:25:35.699 --> 00:25:39.279 In general, one always has doubts, I think. 00:25:39.459 --> 00:25:45.359 The question is whether you have the better arguments that those are only doubts 00:25:45.359 --> 00:25:48.499 and the solution is too good to fail. 00:25:48.979 --> 00:25:52.679 And this was for me always the case because I guess, especially in the beginning 00:25:52.679 --> 00:25:57.819 or whenever you do fundraising, also throughout the years, is you get a lot 00:25:57.819 --> 00:25:59.539 of rejections. You get a lot of no's. 00:26:00.599 --> 00:26:05.919 And this can spark doubt. But at the same time, well, I was always convinced. 00:26:06.219 --> 00:26:09.319 And I mean, the customer feedback then later came and said, OK, 00:26:09.419 --> 00:26:11.259 this is a solution that is really needed. 00:26:13.199 --> 00:26:16.899 And if you have this customer feedback, if you have the also the success in 00:26:16.899 --> 00:26:21.939 the market, this is something that makes it easier to overcome these doubts. 00:26:22.299 --> 00:26:26.319 Because, yes, we are the we're the only ones that ran in this direction. 00:26:26.519 --> 00:26:30.079 This is completely opposite to what everybody else was doing. everybody 00:26:30.079 --> 00:26:33.319 else was doing great charging then maybe battery buffered okay 00:26:33.319 --> 00:26:36.319 we're saying okay this is still not enough we will 00:26:36.319 --> 00:26:39.179 face those problems because the 00:26:39.179 --> 00:26:43.479 power demand is so high and hence we 00:26:43.479 --> 00:26:46.679 said okay this solution is needed and in the 00:26:46.679 --> 00:26:49.439 end well this success proves 00:26:49.439 --> 00:26:55.279 us right at least markets wise we have so many large companies as customers 00:26:55.279 --> 00:27:02.919 we would never have imagined in the beginning but companies like Mercedes or 00:27:02.919 --> 00:27:08.219 MAN and many many more they are relying on our charging solution every day. 00:27:09.419 --> 00:27:14.439 You already said you ran in a very different direction. 00:27:15.479 --> 00:27:18.919 Your offering was distinct fast charging without 00:27:18.919 --> 00:27:22.039 a grid connection could you explain how 00:27:22.039 --> 00:27:28.659 this model worked and who was your ideal customers because my understanding 00:27:28.659 --> 00:27:39.499 is you basically rented out those containers is that right partly yes so what comes with off-grid. 00:27:40.849 --> 00:27:46.109 Is also a new means of financing. But let's take away a step back. 00:27:46.249 --> 00:27:48.749 So first of all, I mean, nobody's really buying a charging station. 00:27:49.069 --> 00:27:53.829 What they're buying is a fully charged car or a fully charged truck or bus. 00:27:54.049 --> 00:27:57.629 So this is basically what they want to achieve. So they want to have a service 00:27:57.629 --> 00:28:01.129 that is as convenient as possible to recharge their vehicle. 00:28:02.229 --> 00:28:08.029 And the classical way is, OK, you build your own charger that is then recharging 00:28:08.029 --> 00:28:14.929 this. And this has a lot of multi-stakeholder processes, long permits you need, and so forth. 00:28:15.109 --> 00:28:19.349 So what we did is say, okay, we need a shortcut for this. 00:28:19.709 --> 00:28:23.729 We need a shortcut that lowers your investment, that gives you a guaranteed 00:28:23.729 --> 00:28:26.969 business case, and you have reliable costs. 00:28:27.189 --> 00:28:32.389 And ideally, you don't even have to invest, but you have recurring costs, 00:28:32.609 --> 00:28:38.589 a monthly cost, nothing to down pay or any upfront payment. And this is what 00:28:38.589 --> 00:28:40.089 we do with off-grid charging. 00:28:40.509 --> 00:28:45.329 So we have a charger here that doesn't need any construction work at the site. 00:28:45.329 --> 00:28:48.689 So you can simply place a container and start charging three hours later. 00:28:49.749 --> 00:28:54.109 Plus, you can finance it through leasing options or just simply rent it. 00:28:54.809 --> 00:28:57.489 And this is the game changer here because for the first time, 00:28:57.569 --> 00:29:02.129 this is charging as a service where you have a lot of usually a lot of upfront investment. 00:29:03.569 --> 00:29:10.049 And this is not needed with our solution. So, we provide here this one-stop-shop 00:29:10.049 --> 00:29:13.089 solution for charging as a service. 00:29:15.289 --> 00:29:20.749 With the takeover of your investor, will this model change in the future? 00:29:21.749 --> 00:29:24.009 No, this will definitely not change. 00:29:25.089 --> 00:29:32.769 The investor is looking forward to also grow this model and expand more internationally. 00:29:32.769 --> 00:29:39.449 So, so far, we were really focused on Germany and we had the first chargers installed in Poland. 00:29:39.749 --> 00:29:43.409 But we are looking forward to also an international expansion, 00:29:43.849 --> 00:29:50.229 especially with this new shareholder to the US and also some Southeast Asian 00:29:50.229 --> 00:29:55.369 markets, which are desperately looking forward to more sustainable and reliable 00:29:55.369 --> 00:29:57.489 power production and fast charging. 00:29:57.489 --> 00:30:00.089 That is awesome. You always give me the cues. 00:30:00.849 --> 00:30:04.969 Sustainability and innovation were at the core of me energy. 00:30:05.269 --> 00:30:09.329 How did you balance the environmental aspect and the profitability? 00:30:10.737 --> 00:30:17.117 So we are in a market where not being sustainable is not an option because in 00:30:17.117 --> 00:30:22.277 general, what people look for when buying electric vehicles is a more sustainable solutions. 00:30:22.517 --> 00:30:26.837 Also, a lot of companies are driven by ESG reporting, by lowering their own 00:30:26.837 --> 00:30:33.557 carbon emissions, either by legislation or if one of their major customers demands, 00:30:34.097 --> 00:30:35.757 for example, carbon neutral transport. 00:30:35.997 --> 00:30:39.997 This is the case with a lot of OEMs in the automotive sector. 00:30:39.997 --> 00:30:44.197 They demand their logistics partners to go for carbon neutral transport so that 00:30:44.197 --> 00:30:46.137 the OEMs lower their emissions themselves. 00:30:47.137 --> 00:30:51.897 And so sustainability is really at the core of our business offering. 00:30:52.077 --> 00:30:59.697 And also to maybe give the audience one or two facts about sustainability here is that our chargers, 00:30:59.777 --> 00:31:06.437 they actually are less or they have less emissions per kilometer or kilowatt 00:31:06.437 --> 00:31:07.977 hour than their solar panel. 00:31:08.937 --> 00:31:17.517 So we produce energy in Germany, in Northern Europe, and even in Poland, France, and so forth. 00:31:17.697 --> 00:31:21.037 We produce it more sustainably than a solar panel. 00:31:21.817 --> 00:31:27.157 We are almost at a level of onshore wind, and offshore wind is by far the best. 00:31:28.477 --> 00:31:33.777 But we are there. And this is what was also driving me and is still driving 00:31:33.777 --> 00:31:35.737 the team, that with every charger we deliver, 00:31:36.097 --> 00:31:43.957 we contribute to a cleaner and greener and more sustainable future that where 00:31:43.957 --> 00:31:46.077 you can still drive your car, 00:31:46.237 --> 00:31:51.257 where you can still get your food delivered and all the goods delivered by truck. 00:31:52.317 --> 00:31:57.297 Because I mean, otherwise, continuing this fossil way is not an option for a 00:31:57.297 --> 00:31:58.617 lot of people, at least in my generation. 00:31:59.997 --> 00:32:05.257 We may add that ESG means environmental, social, and governments. 00:32:05.697 --> 00:32:10.817 It's a shorthand for investment principles that prioritize those aspects. 00:32:10.997 --> 00:32:13.657 Governments meaning corporate governance. 00:32:14.357 --> 00:32:17.417 That was something I just had to throw in. Joe. 00:32:18.737 --> 00:32:24.777 As we already discussed, your chargers were visited by Chancellor Olaf Scholz. 00:32:24.937 --> 00:32:30.037 That is quite an endorsement. Did this kind of recognition create a momentum 00:32:30.037 --> 00:32:33.537 for your business or was it just a symbolic boost? 00:32:34.577 --> 00:32:42.277 Let's say it sparked a lot of talks with existing and prospect customers. 00:32:42.817 --> 00:32:48.157 So in that sense, it was always so we were in the news. We had a lot of coverage. 00:32:48.577 --> 00:32:54.477 And this always sparks a lot of interest, either to warm up the conversation 00:32:54.477 --> 00:32:59.797 about follow up orders Or if someone was at the brink of ordering, 00:33:00.157 --> 00:33:06.457 maybe then tilted towards the way that they're actually ordering instead of refusing the offer. 00:33:06.637 --> 00:33:13.377 And this is what was there. But I would say the biggest boost it gave here and 00:33:13.377 --> 00:33:14.477 confidence for the team. 00:33:15.117 --> 00:33:21.757 So having this, having such a visit and also him, I mean, 00:33:22.297 --> 00:33:26.657 let's say I always said to the team, It doesn't really matter what you think 00:33:26.657 --> 00:33:31.737 of this person, but think of him as the most influential or the influencer in 00:33:31.737 --> 00:33:34.237 Germany with the most reach you have. 00:33:34.777 --> 00:33:39.957 And he is visiting this company. I like his characterization. I love it. 00:33:40.457 --> 00:33:47.117 And everybody in the end was, I mean, and also this whole event coming with a lot of security. 00:33:47.357 --> 00:33:50.657 I mean, there were docs checking this. They were, let's say, 00:33:50.957 --> 00:33:53.977 they came to this facility for random checks twice before. 00:33:54.317 --> 00:33:59.137 A lot of police, we had to clean out everything which is sharp, 00:33:59.377 --> 00:34:04.337 everything which is metal, everything that can fall from the sky, from the ceiling. 00:34:05.192 --> 00:34:08.652 Everything had to be cleaned. So it was a huge event, but in the end, 00:34:08.752 --> 00:34:13.172 it was worth it because everybody, after all, felt, okay, we are on a good mission. 00:34:13.512 --> 00:34:21.232 What we do is valuable, and this is the small spark or this small additional 00:34:21.232 --> 00:34:25.352 push the team needs to continue on, 00:34:25.512 --> 00:34:30.152 and I think this was the most valuable that came out of this visit. 00:34:30.552 --> 00:34:35.352 All the customer endorsement, all the conversations he had, the nice pictures, 00:34:35.572 --> 00:34:36.552 yes, I mean, that's nice. 00:34:36.712 --> 00:34:42.312 I mean, my mom was really proud, yes, with the pictures, but this is not what you do it for. 00:34:42.532 --> 00:34:46.772 What you do it for is really, or what we did it in the end for was the team 00:34:46.772 --> 00:34:48.532 and the spirit that came out of it. 00:34:49.792 --> 00:34:53.332 It's an awesome bonus if your mom is proud of you. Yes. 00:34:54.352 --> 00:34:58.652 Yeah, I mean, I mean, having having, let's say, a satisfied or a proud parent 00:34:58.652 --> 00:35:04.992 is better than having those parents that were, let's say, that question always 00:35:04.992 --> 00:35:06.852 your career, because, I mean, 00:35:07.212 --> 00:35:13.732 this is this is also maybe what in the end have also my dad make peace with 00:35:13.732 --> 00:35:16.592 me being an entrepreneur and having this, let's say, 00:35:16.992 --> 00:35:20.952 rather rollercoaster lifestyle than a regular nine to five job at Bosch. 00:35:20.952 --> 00:35:27.592 Let's have a little break for our advertisers, partners, and we'll back in just 60 seconds. 00:35:29.572 --> 00:35:37.052 Okay, now we've talked a lot about you, your current company, your origins. 00:35:37.352 --> 00:35:40.992 Let's go a little bit into the future outlook. 00:35:41.992 --> 00:35:46.252 For me personally, the insolvency came as a surprise. As you said, 00:35:46.472 --> 00:35:52.952 some commitments from shareholders were not met. So you didn't have an option 00:35:52.952 --> 00:35:55.492 to do anything else than to file for insolvency. 00:35:55.592 --> 00:36:02.152 But if you could rewind time, what would you do differently to steer the company 00:36:02.152 --> 00:36:04.252 onto a different course? 00:36:05.052 --> 00:36:13.072 So rewinding time, I mean, being a lot wiser now is sooner setting structures 00:36:13.072 --> 00:36:19.812 for scaling that don't require increasing costs that much. 00:36:20.792 --> 00:36:28.312 Translating into our terms is, so we in the beginning delivered a lot of products, 00:36:29.532 --> 00:36:35.692 for pilot projects, for example, where they were in the end rather costly to keep up. 00:36:37.032 --> 00:36:42.632 So if I would be wise, I was like, okay, do less, do that more focused. 00:36:43.932 --> 00:36:49.752 And not increase your costs as fast. Coming from a time, and also when we did 00:36:49.752 --> 00:36:54.972 our last financing round, was still the time of little to no interest rates, 00:36:55.272 --> 00:36:56.672 a lot of money in the market, 00:36:57.432 --> 00:36:59.692 and the only thing that mattered was growth. 00:37:01.384 --> 00:37:04.424 And so that growth at 00:37:04.424 --> 00:37:07.784 all costs and this mantra was also something that 00:37:07.784 --> 00:37:10.684 we had to listen to here because i mean those were our shareholders 00:37:10.684 --> 00:37:14.264 after all so it was growth at all costs and 00:37:14.264 --> 00:37:17.784 then we had growth at all costs but those costs 00:37:17.784 --> 00:37:21.564 were not sustainable and then especially in 00:37:21.564 --> 00:37:24.564 heavy regulated markets like germany um cutting 00:37:24.564 --> 00:37:27.344 those costs is something that at a certain 00:37:27.344 --> 00:37:30.604 point you cannot do anymore unless you 00:37:30.604 --> 00:37:33.804 do go for a full restructuring and so 00:37:33.804 --> 00:37:37.164 this is one lesson I'll take and the second one is choose 00:37:37.164 --> 00:37:41.544 your shareholders wisely I mean and even 00:37:41.544 --> 00:37:45.284 one day on the board they will not support you at all costs but rather you have 00:37:45.284 --> 00:37:51.284 to manage those relations and this is something that can be really time intense 00:37:51.284 --> 00:37:57.404 but this is also your role as a founder or as a CEO and this is something what 00:37:57.404 --> 00:38:00.744 I can only recommend is keep your shareholders happy. 00:38:01.424 --> 00:38:05.724 Don't keep them happy with any fancy presentations, but rather keep them happy 00:38:05.724 --> 00:38:10.124 with honest conversations and regular conversations, even if things don't look 00:38:10.124 --> 00:38:12.144 good. And then just ask them for advice. 00:38:12.584 --> 00:38:16.284 Maybe it's good advice. Maybe it's bad advice. But if they have the feeling 00:38:16.284 --> 00:38:20.924 they can help, they are more on board and more happy to help. 00:38:22.524 --> 00:38:27.424 Yes, always reminds me of two aspects. One of them is an article in TechCrunch 00:38:27.424 --> 00:38:31.724 that more investors have made startups fail than any market ever did. 00:38:31.964 --> 00:38:38.204 And the second one is that you should also, what we discussed with different 00:38:38.204 --> 00:38:41.784 interview guests in different dimensions, different aspects here, 00:38:41.924 --> 00:38:45.724 is you should always listen to your shareholders. 00:38:45.724 --> 00:38:49.804 Yes, you should manage the conversation because if you just go there, 00:38:49.944 --> 00:38:51.064 guys, everything is shit. 00:38:51.144 --> 00:38:55.584 I don't know what to do. You can be very sure your shareholders will walk out 00:38:55.584 --> 00:39:03.684 and look for a party to buy your company because they are interested in keeping 00:39:03.684 --> 00:39:05.944 and increasing their investment. 00:39:06.124 --> 00:39:09.364 So as you said, they will not support you at any costs. 00:39:13.625 --> 00:39:18.145 Going a little bit further, what advice would you offer to entrepreneurs looking 00:39:18.145 --> 00:39:25.545 to innovate in industries with heavy regulatory or infrastructure challenges like energy? 00:39:27.125 --> 00:39:32.505 So in general, I mean, for me, or what's still this or what also fuels this 00:39:32.505 --> 00:39:36.865 is, I mean, real change also comes from hardware. 00:39:36.865 --> 00:39:42.325 I mean, yes, software does a lot of good, and it's needed in a lot of areas. 00:39:42.325 --> 00:39:46.165 It will increase efficiency a lot, yes, but if you want to change big time, 00:39:46.305 --> 00:39:48.745 you have to go big, big meaning hardware. 00:39:49.485 --> 00:39:55.905 And so this is a hard issue to tackle because it's so capital intense, 00:39:56.145 --> 00:40:02.865 time to markets are long, and hence you need a long breath to withhold, 00:40:03.485 --> 00:40:07.725 and actually get to the market and then also be successful in the market. 00:40:08.585 --> 00:40:17.145 So what kind of advice I would give those is, well, don't forget why you're 00:40:17.145 --> 00:40:19.265 doing it or what are you doing it for? 00:40:19.425 --> 00:40:22.405 Because, I mean, you always have to have this vision because that will keep 00:40:22.405 --> 00:40:25.145 you going even if you get a lot of no's. 00:40:25.805 --> 00:40:30.985 Hardware infrastructure is not really something, a sexy topic for most investors, 00:40:30.985 --> 00:40:38.945 Even if they say there are technology agnostic or whatever euphemism they use, 00:40:39.485 --> 00:40:41.585 hardware is not usually the case they find sexy. 00:40:41.905 --> 00:40:46.985 So I would say try institutional investors. 00:40:47.625 --> 00:40:50.865 This is something that usually helps, especially in the early days. 00:40:51.845 --> 00:40:55.485 State supported loans, state supported subsidies. 00:40:55.485 --> 00:40:58.845 This is something that you go for. I mean, it's also heavily regulated, 00:40:59.125 --> 00:41:00.965 but it helps you not diluting too 00:41:00.965 --> 00:41:04.925 much in the early days and keep it as an attractive investment vehicle. 00:41:06.085 --> 00:41:11.685 And when it comes to, say, regulation, regulation in the beginning is a pain. 00:41:12.385 --> 00:41:14.405 Once you solved it, it's an advantage. 00:41:15.365 --> 00:41:20.905 So this is also something a lot of business models can come out from solving 00:41:20.905 --> 00:41:27.465 this legislation issue. For example, for us, we have a mobile unit. 00:41:28.724 --> 00:41:33.984 That is still a charging station. So we don't need any building permits, for example. 00:41:34.404 --> 00:41:40.424 We don't need to file for authorization at the local government to set up charging 00:41:40.424 --> 00:41:42.424 infrastructure as long as we are on private ground. 00:41:42.584 --> 00:41:46.104 We can just place it there, which is a perfect use case, for example, 00:41:46.224 --> 00:41:48.384 for rentals. You have an event, you have trade fair. 00:41:49.024 --> 00:41:53.024 We're there for one week and we're gone afterwards without leaving a trace. 00:41:53.624 --> 00:41:59.144 So this is really an advantage because we designed this product to adhere to 00:41:59.144 --> 00:42:03.204 all this legislational hurdles that we can now use. 00:42:03.724 --> 00:42:10.644 So it's always a barrier, legislation, but it can be also a market entry barrier 00:42:10.644 --> 00:42:13.424 for others. So you can take that as an advantage. 00:42:13.924 --> 00:42:20.164 That was already good advice. Finally, we get to the last official question. 00:42:22.164 --> 00:42:27.004 If a young startup founder asks you what's more important, have a groundbreaking 00:42:27.004 --> 00:42:31.384 idea, or building the right team? What would you say and why? 00:42:31.904 --> 00:42:36.924 I think most entrepreneurs would say the right team, and also me, 00:42:38.584 --> 00:42:41.664 because groundbreaking ideas exist a lot. 00:42:42.744 --> 00:42:48.244 90% is execution, and execution comes with the right people and the right team. 00:42:48.604 --> 00:42:55.384 So choose those that are willing to go or to fight and to go into battle with you. 00:42:55.384 --> 00:42:58.264 At the same time always are honest with 00:42:58.264 --> 00:43:01.464 you and they speak their mind because the last 00:43:01.464 --> 00:43:04.464 thing you can use in a startup 00:43:04.464 --> 00:43:07.944 is politics you don't want to have anyone not 00:43:07.944 --> 00:43:11.164 speaking their mind or acting a certain way not 00:43:11.164 --> 00:43:14.504 working towards the same goals because of some 00:43:14.504 --> 00:43:21.724 food a few that few they have with another party member or some form of deep 00:43:21.724 --> 00:43:26.264 down conflict so this is something i would always advice is choose the right 00:43:26.264 --> 00:43:32.104 team and usually a right team also finds the right idea that is a match for their skill set. 00:43:33.082 --> 00:43:36.642 That is good. And now the only inofficial question. 00:43:36.982 --> 00:43:42.462 You already said the team is very important. You're doing a restart with a bigger 00:43:42.462 --> 00:43:43.882 investor in the background. 00:43:43.982 --> 00:43:48.622 You are looking to expand globally, talking about the US and Asia. 00:43:49.302 --> 00:43:56.282 Are you actually looking for talent? Yes, we're always looking for talent in a lot of areas. 00:43:56.962 --> 00:44:00.342 Since we're a hardware startup, I mean, And also those engineers out there, 00:44:00.382 --> 00:44:04.642 which are not only software related, feel free to join here. 00:44:04.922 --> 00:44:10.662 Electrical engineering, mechanical engineering is needed, but also obviously software engineering. 00:44:11.262 --> 00:44:17.962 And also we always look for business talents when it comes to sales and marketing. 00:44:18.322 --> 00:44:24.242 Feel free to apply. We have a lot of challenges ahead of us and there's a growth 00:44:24.242 --> 00:44:28.122 path laid out. I mean, as I said, it's a more sustainable growth path, 00:44:28.162 --> 00:44:30.522 but this also needs a lot of new talent. 00:44:30.922 --> 00:44:36.542 So I'm looking forward to your applications or just reach out for original coffee. 00:44:36.922 --> 00:44:38.202 Happy to talk to you guys. 00:44:38.662 --> 00:44:44.782 As always, down here in the show notes, we will link your career website. Alex? Yes. 00:44:45.102 --> 00:44:49.002 Thank you very much. It was a pleasure having you. What people from the outside 00:44:49.002 --> 00:44:55.642 cannot tell, we're talking now for almost an hour with 45 minutes of recording. Thank you very much. 00:44:55.782 --> 00:44:58.062 You have been a great guest in a very difficult situation. 00:44:58.642 --> 00:45:02.942 Thank you for having me, Joe. It was a pleasure to be here. And hopefully one 00:45:02.942 --> 00:45:08.682 or two things or one or two experiences I shared leave a memory for your audience. 00:45:09.682 --> 00:45:11.182 Thank you. Thank you. 00:45:10.960 --> 00:45:19.920 Music. 00:45:16.002 --> 00:45:25.522 That's all folks. Find more news, streams, events, and interviews at www.startuprad.io 00:45:25.622 --> 00:45:28.142 Remember, sharing is caring. 00:45:28.880 --> 00:45:41.674 Music.