In bright sunshine, the MUST Summit 2017 came to an end with a round of B2B speed dating and personal one-on-one meetings.
Find partners to jointly drive innovation
The focus of the conference was on deal-making between tech startups and industry, investors, academia and other key stakeholders. Around 400 participants made their way to the Eisbach Studios to exchange ideas on topics such as artificial intelligence, autonomous machines, energy efficiency, mobility and digital commerce.
Klaus Sailer, Managing Director of Strascheg Center for Entrepreneurship (SCE), about the event:
I'm delighted that such a diverse range of ecosystem stakeholders are represented at the MUST Summit, a conference initiated by the entrepreneurship centers of Munich's universities. This demonstrates that academia is also very important as an enabler for the ecosystem.
The participants were treated to a packed program: Panels addressed issues such as Advantages or disadvantages of corporate venturing, what disruptive approaches could look like or how large corporations should cooperate with startups in the digital age.
Bridging the cultures and different perspectives of startups and corporates
What was particularly exciting here was the Mixed panel composition with corporates and startups, which led to enriching discussions. For example, Nikolay Hvvid, CEO of Bragi, together with Peter Schwarzenbauer, Member of the Board of Management of BMW AG and Alexander Schlaubitz, Vice President Marketing of Lufthansa, about the strategic cooperation of startups with global players.
Hvvid observed how difficult it sometimes is for corporations to look left and right. He added that German corporations clearly have some catching up to do, especially compared to the US or China, and could benefit significantly more from startups.
Hvvid’s advice to large companies:
"Let the small ones do the work. Let them make the mistakes."
“We are fighting for survival”
Peter Schwarzenbauer even described BMW’s situation as a fight for survival and explained why the company relies on innovative startups:
“I am convinced that we are in a phase where there will be more changes in the automotive industry in the next 10 years than there have been in the last 100 years.
The speed of change is a particular concern for us. We're deliberately looking for startups that can help us develop technologies, implement ideas, and truly understand this transformation."
At the same time, the corporations explained how they could help the startups: through many years of expertise, existing structures and networks — and, of course, with market entry into other countries.
Above all, the Customers’ trust in established companiesUltimately, when it comes to topics like autonomous driving, customers would ask themselves the following questions: When getting into an autonomous vehicle, who would you rather trust with your life? Someone who's doing it for the first time? Or someone who has many years of experience building vehicles?
An arena for the audience and a stage that rotates
Also exciting, especially for the panelists, was the revolving stage in the middle of the event arena. Some were apparently worried about getting seasick—a fear that fortunately proved to be unfounded.
In almost 100 pitches, international and national startups were able to present their innovations, explain their business models to investors and attract the attention of potential partners.
Surprise deals
Sebastian Dominguez, Managing Director of the Munich startup Caala, is looking for investors for the seed round and potential customers at MUST. What makes the conference particularly attractive for him:
“Here we have the opportunity to make contact in a relaxed atmosphere and find out what is needed, what we have to deliver to be an interesting partner.”
The informal exchange also took center stage in the evening during the so-called 'Dinner Crawl'. During the 'crawl,' the diverse groups not only got to know three different Munich restaurants, but also, and most importantly, met new people. As was the case at MUST 2016, some surprising matches emerged. For example, a Spanish startup plans to use the technology of a German startup to improve the manufacturing of its products.
Networking and deal-making were the focus of the MUST Summit. Last but not least, the concluding B2B speed dating event could also convince some international startups to establish an office in Munich.
Where else can you get such good views?
