Because megan quinn from the u.S. Investment firm kleiner perkins caufield& byers and technology blogger MG siegler visit berlin. They sit on bar stools at the head of a rough room on the fourth floor of betahaus, a meeting place for berlin’s internet scene.
The reputation of the city has now also reached the USA. "You hear a lot about berlin being a great place for start-ups," says siegler. He was a journalist for a well-known US blog for several years. Then he switched sides and is now an investor looking for the next idea that could turn into a profitable business. Getting investors like siegler excited about your business idea is one of the hurdles for start-ups. Because they usually need money from pigeons to implement their idea. California’s silicon valley continues to lead the way in this field. "Convincing investors to put a lot of money into a company is still much easier in the states," siegler says.
But where there are more investors and entrepreneurs, the pressure of competition is also greater. Anyone who imitates existing ideas or makes only slight improvements has poorer chances with investors, says megan quinn. "My advice is to do something really innovative," said quinn, who worked for google for seven years.
Quinn said she sees potential for new ideas, especially in education and health. "The education sector is a tremendous market for innovation."Schools today are hardly taught any differently than they were decades ago, even though the technical possibilities have changed enormously. Networked televisions and wearable computers are another trend, siegler added.
The audience takes quinn’s and siegler’s visit as a kind of free business advice. How best to contact potential investors, one asks. Another wants to know whether he already has to present a finished website or app, or whether he can simply present an idea. Most investors would rather have something they can touch, is the answer.
Siegler also warned potential entrepreneurs not to get too attached to trends. To invest his crunchfund, he looks less for specific issues than for people who are passionate about their idea. Entrepreneurs also need staying power if the company does not work out in the end. "The probability of earning a lot of money with your own business is still tiny," said siegler.