Munich Startup: What kind of career path have you had so far?
Jana Krotsch: I started my career in management consulting and then worked in asset management and insurance for more than 15 years. I didn't decide to start a startup until I was 42.
Munich Startup: What motivated you to start the company?
Jana Krotsch: Two things. First, I have three school-age children, and like many other families, learning and doing homework wasn't always easy, especially when both parents worked. The question often came up, "Mom, can you just…"—and I was still at the office. At the time, I thought, "There has to be an easier way!" than constantly searching for a personal tutor, booking one, and then having to reschedule.
Secondly, when it comes to education, things aren't exactly fair in Germany. In Germany, approximately 80% of children from wealthy families graduate from university, but only 20% of children from socially disadvantaged families. I find that absolutely unworthy for such a wealthy country.
With Ubimaster, I wanted to create a product that solves both issues: simplified on-demand access to tutors regardless of parents' socio-economic statusAnd that's what we have: Ubimaster is largely funded by companies and foundations – always for all employees or all customers – regardless of parental income, from the board member's child to the doorman's child, so to speak. Everyone has equal access to extracurricular education.
Jana Krotsch: „I would have liked to know (…) how important a network (…) is
Munich Startup: What would you have liked to have known before starting your first business?
Jana Krotsch: I would have liked to know more about how important a network is in the startup world. I come from the corporate world, and thus initially had no network in the startup investor environment. On top of that, I was already 40+, a solo founder, and female, so I didn't have the typical founder profile. But yes, I can build a startup too!
Especially when it comes to fundraising, these facts were more challenging than I expected. Because: How does a founder find the right investors? And how do I best approach them? How do I generate interest in a 60-second pitch with a product that's quite complex?
First bootstrapping, then successful seed round
Munich Startup: How has your company been financed so far?
Jana Krotsch: I started small, initially financing Ubimaster's early stages out of my own pocket. Ubimaster also received funding from the German Federal Ministry of Education and Research for our innovative approach. In addition, our product was appreciated by corporate customers very early on, and we generated initial revenue. This allowed me to bootstrap the startup. In 2022, we successfully completed a seed round. Our main investors include Auxxo and Owl Ventures, the world's largest edtech VC.
Munich Startup: When and where do you get the best ideas?
Jana Krotsch: I often get my best ideas while running. Movement is a real help for thinking clearly and finding creative solutions.
Munich Startup: What are your 3 favorite work tools?
Jana Krotsch: I need pen and paper. It sounds old-school, but it helps me quickly jot down and visualize my thoughts. Of course, our company and team primarily work with online tools like Figma and Miro. During fundraising, I found Docsend super easy to share materials with potential investors.
“Tell a story and work a lot with images”
Munich Startup: Your top tip on pitching?
Jana Krotsch: Be authentic, tell a story, and use a lot of imagery. You'll stick in the minds of potential investors not only with your numbers, KPIs, or mission, but especially if you evoke a memory or create an "image" in their mind.
Munich Startup: Does this seem like a good time to start a business? Why?
Jana Krotsch: If not now, when? Starting a business only makes sense if you, as the founder, are fully committed to it, passionate about it, and willing to invest your time. Digitalization, AI, and technological advances offer many opportunities to develop innovative solutions and market them successfully.
Munich Startup: In your opinion, what could be improved at the Munich startup location?
Jana Krotsch: Let's be honest: Munich is already one of the best startup locations in Germany. I would be happy to see even more support programs for female entrepreneurs expanded. There are simply far too few of them in Bavaria.
Munich Startup: Which founder would you like to meet in person?
Jana Krotsch: With Reshma Saujani, who founded “Girls Who Code” and has campaigned for educational equality and the gender gap in the tech industry – two issues that are just as important to me and that I work on every day.
