Dr. Alexander König is the founder of Reactive Robotics GmbH. In conversation with BayStartUP He describes how he sees the startup world and what has happened since his company's financing round. A guest article by Thyra Andresen of BayStartUP, published in magazine startUPdate.
Reactive Robotics is working on technical solutions that help patients in intensive care units move. The technology is intended to be installed on hospital beds to mobilize patients suffering from strokes or heart attacks as early as possible. This will enable patients to recover more quickly, hospitals can alleviate nursing staff shortages, and therapists can be supported in their work.
What were the major construction projects at Reactive Robotics since the last financing round?
We've grown from four to 17 people, and our office space and development environment have tripled in size. We were able to complete our preclinical processes and build the product. We then expanded into other areas such as finance and business development, optimizing the sales and collaboration side. Our regulatory strategy is solidly established, which entails an extremely intensive documentation effort. All important processes regarding collaboration partners, suppliers, and the production chain are in place. I give my employees a great deal of freedom to participate in shaping things. At the same time, we've introduced structures that allow for the best possible transparency and flexibility and keep the organization as lean and flat as possible.
“The medical technology market has extremely difficult entry conditions”
What makes financing in the MedTech sector particularly challenging?
Finding financing is always exhausting, no matter what field you're in. In the digital world, it's easy for someone to copy you. Every industry has its own advantages and disadvantages. There are always exciting topics—robotics, AI—you also need a bit of luck to ride the wave. The medical technology market has extremely difficult entry requirements—but once you make it, you have completely different opportunities. The moment something is needed, the success of a product or idea is much more likely. Outlining the drivers driving your own development can help you better motivate investors and explain why your company would be a good investment opportunity. At Reactive Robotics, we want to contribute to faster patient recovery while counteracting the challenging dwindling human resources. In this way, we increase human efficiency on both the patient and hospital sides.
How do you perceive the German startup culture?
My experience is that almost everyone supports you if you pursue something you love. I couldn't pay my first employee a high salary, so I compensated him with shares – he's still part of the team and will hopefully participate in our success in the future. It's great in Germany – if you get a job at a startup, not much can happen to you thanks to the economic safety net. Anyone who has paid in receives unemployment benefits. While this works particularly well for highly qualified staff, it gives me, as a founder, a great deal of freedom in my head.
“I invested a large part of my retirement savings in the project”
Starting a business – is it that easy?
Back then, I set myself a goal and simply went for it. Even before founding the company, I spent a year working on the business plan while working full-time and started networking. I invested a large portion of my retirement savings in the project – my parents threw up their hands in horror. That was okay with me – also because I'm well-educated and could have chosen a different path if necessary. Ultimately, I also held a mirror up to myself and the product and questioned the business model – only then did I invest the money.
