The CDTM is one of Munich's most successful startup hotbeds — numerous promising young companies have already been launched here! A total of 160 startups have emerged from the Center for Digital Technology and Management, including many highly successful ones. For example, the founders of eGym,Konux, Navvis and Freeletics in the startup forge — and this is just a small selection of the CDTM's impressive alumni list. Many alumni also become serial entrepreneurs, such as Konstantin MehlMichael Chromik, responsible for strategic partnerships in the current CDTM management team, answered our questions.
Please introduce yourselves briefly!
The Center for Digital Technology and Management (CDTM) is a joint institution of the two Munich universities LMU and TUM and offers talented students from all disciplines the additional study program "Technology Management." Therefore, we see ourselves primarily as an educational institution with a focus on innovation in the digital age. Through our course formats, we develop entrepreneurial thinking in our students and promote collaboration in interdisciplinary teams. This inspires and motivates many of our graduates to start their own businesses, with above-average prospects for success.
Our center is led by ten doctoral students. As you can imagine, all of this cannot be accomplished by so few people. Therefore, the CDTM is structured as a student-driven organization, in which all active students contribute to the operational activities as part of the program. This allows us to be constantly evolving and always stay on the cutting edge.
We offer Munich's startup scene a meeting platform through various formats, such as Inspire&Dine. This event attracts around 300 guests three times a semester with interesting presentations and opportunities for networking over a beer or two.
“Ready to take unusual paths”
The CDTM is considered a startup hotbed for founders. What sets your students apart?
Our students come from a variety of disciplines and countries and are highly motivated. In addition to their professional expertise, they are distinguished by their ability to collaborate with other disciplines. This is reflected in their teamwork skills and willingness to always support one another and contribute. This combination makes it easy for them to question the status quo and find creative solutions for projects in everyday business life.
The community is one of the secrets of CDTM’s success
And what, in turn, makes the CDTM a success?
The special sense of solidarity among current students and the strong bond between alumni and the CDTM—in short, the community. Furthermore, the lived interdisciplinarity, diversity, and hands-on mentality of students, doctoral candidates, alumni, and participating professors. Everyone here wants to help shape and further develop the CDTM and is always willing to take unusual paths. The special trust of our partners from business and public institutions is also an enormously important factor for success. This very special spirit ensures that the CDTM and the idea behind it never seem outdated, even after twenty years.
To be successful, a startup must…
… constantly question yourself!
What is the biggest mistake a founder can make?
A small selection of our experiences:
- First, founders too often rely solely on their own skills. A successful startup always requires a team that complements each other perfectly.
- Second, startups often fail due to a lack of communication about the expectations of the individual members of the founding team.
- Third, founders shouldn't keep their idea to themselves and work on it in a dark room. On the contrary, they should have the idea validated by relevant experts as early as possible.
How projects become startups
You also work with many companies—startups and corporates—as partners. How does the collaboration work?
Fundamentally, we work together within the framework of course collaborations on the topics of trend analysis, prototype development, and business strategy. Here, companies—from startups to global corporations—take on the role of project partners to work hands-on with CDTM students. Past outcomes have included groundbreaking trend reports such as "Fighting Hunger in the Digital Era" in collaboration with the UN World Food Program. However, the first MVPs for innovative digital products or services are also emerging, which can sometimes lead to startups such as Stylight or Teleclinic.
The trend of the year is…
…Digital Reality!
What characteristics make the Munich startup scene so special?
The high density of motivated, highly educated young people, plus the outstanding collaboration between science and research (LMU and TUM) as well as major corporate partners (especially in the engineering field) such as Siemens or BMW and tech-focused startups.
Last but not least: What is the best way to get in touch with you?
You can contact us at many public events like 'Inspire & Dine' if you want to find out if CDTM is a good fit for you—as a student or a company. We always hold information events at LMU and TUM before our application deadlines (May 30th and November 30th of each year), or you can simply drop by for a game of foosball.
