Premiere: The Congress “MUST – The Munich Summit 2016“ brought together around 300 technology startups, companies, researchers and investors from all over the world in Munich on February 24 and 25, 2016.
The motto “Connected Cities“ combined themes such as these:
- Digitalization
- mobility
- FinTech
- Industry 4.0
- Manufacturing
The focus was on Networking and new cooperation between established companies such as BMW, Munich Airport, Munich Re, EOS or Voxeljet and startups and on the other hand the Matching young entrepreneurs with investors.
Did it work well? We gathered some feedback:
Andy Goldstein, Head of LMU Entrepreneurship Center:
“The MUST has lived up to its name, it really is a must to be here. We have incredible startups, and the industry leaders who are here are very serious about doing business. And you can tell by the questions that they are asking, they can see that there is a very high level of technology behind the startups and I think it's an event that hasn't been done before. I think that Munich is the very right place for this, because we have so much industry around us. “Also with the three universities here it has drawn a lot of international companies and international players to Munich and we have the facilities to make it really worth their time to come.”
Sven Scheuble, Head of Technology Business Siemens:
"The MUST is a unique opportunity to bring together the various competencies and assets that this location has: large companies, startups, the entrepreneurship centers of the universities, the city, the state and many, many more. This is a unique mix and I think, we can build something unique here, which brings together the different strengths.”
The path to a closed deal – success factors vs. deal killers
To kick off the conference, a high-profile panel discussed the topic "Corporate Deal Makers: Key Success Factors and Deal Killers." The key success factors in a nutshell:
- Scale
- Lack of distraction
- AQ (the Adversity Quotient)
- User Experience
- People
Ask hard questions early
And how do startups and established companies benefit? Professor Siegfried Russwurm, Siemens CTO, said that the startups are primarily helping Siemens "connect the real world with the digital world" on the path to B2B2C. Dr. Christoph Grote, Managing Director of BMW Research and Technology, offered the following tip: "Ask hard questions early“ and explained that the BMW Startup Garage offers startups space for their innovation and quick market access.
Dov Moran, inventor of the USB stick, serial entrepreneur and VC, gave the startups present the following tip:
“Find partners to get to where you alone can't get. Stay away from those guys who are just looking to get your technology. Look for the ones who really want to work with you.”
The VC sees Munich as the center of a new evolution:
"The MUST is very impressive. It seems like the right thing at the right place. I do believe that the world is moving towards an evolution. In my eyes it's a new evolution of autonomous cars and I think a big part of this evolution should be done here."
Network, network, network
Some impressive startup pitches were followed by the opportunity for intensive networking.
Afterwards, Minister of State Aigner and Mayor Schmid spoke in their keynote speeches about the conference's important impetus for Munich as an innovative city. According to Schmid, startups play a key role in the digital transformation of urban spaces:
„The state capital of Munich is already breaking new ground and implementing smart solutions holistically. But only together will we be able to meet the challenges of the future."
State Minister Aigner urged startups not to be shy – so that large companies would look and listen.
"startups make noise. Be noticed. Network" – great advice from Minister for Economic Affairs @IlseAigner @MUSTmunich pic.twitter.com/vSmI4oo4yh
— Daniel Ramamoorthy (@iamdanram) February 24, 2016
The challenges for a smart city
In the afternoon, small discussion groups discussed Challenges of connected cities and suitable solutions were examined. In the brainpools, topics as diverse as innovation clusters, the "Internet of Things" for industry, and cyber risks were discussed in depth. And the participants also had a lot of fun, for example, in the brainpool where the question "What makes transportation sexy?" was posed and at least partially answered. Hopefully, we'll see one or two solutions implemented in Munich sooner or later.
The state capital itself also hosted a brainpool as a conference partner. The Referat für Arbeit und Wirtschaft, together with Green City Projekt GmbH and the Siemens Innovation Department, hosted a panel discussion on "Electric taxis and their potential role in public transport."
Concrete collaborations will be explored on February 25, the second day of the conference, in direct discussions between startups and participating companies and investors in order to optimally utilize the synergies of the various players in the startup scene.
We're excited about the developments that will emerge from MUST. Stay tuned!
