Nov 5, 2020

NextFloor...Next what? Our Experience at the Accelerator in Salzburg - Austria

caresocius AG, with headquarters in Basel, was part of the last cohort of the NextFloor Accelerator in Salzburg. It was an interesting meeting with various people from different industries. In this blog article we share our experiences and insights.

Next-Floor is a European, highly committed network of experts dedicated to the success of innovative young companies. The network supports the success of the companies through capital, expertise and entrepreneurial know-how. The focus of this "Trusted Investors Network" is on those areas that naturally belong to the core competencies of the Salzburg region: Art & Culture and Tourism.

In a second focus, the network supports companies in the fields of Med-Tech, Health Care and Social Impact. 

NFPartner

NextFloor managing director Marcus Salzmann justifies the step into tourism with the already existing large innovation authority of founders and startups in the tourism surrounding field. "The leisure industry needs an ecosystem for innovation, and the Tourism Accelerator (TACC) is the perfect environment for this. There are many creative minds in the industry. Let their ideas grow under ideal conditions".

Accelerators help founders develop market-ready products or services, ideally within a few months. The structure of such an accelerator program is similar to a "boot camp". Here, experts tap start-up ideas and business models for their feasibility and customer relevance. The program culminates in so-called Demo Days. There, the start-up teams have the opportunity to present their innovation to industry representatives, the press and investors.

Olav Carlsen, TACC Business Developer, wants to start with the first six to eight start-ups in March in the Accelerator in Salzburg's old town. They will go through a program specially tailored to their needs and receive commercial and technical know-how from partners, entrepreneurs and academic teachers. At the same time, the TACC opens doors to markets and customers for the founders and helps them find investors, network and exit partners.

The new accelerator is financed by a broad alliance of private companies from the tourism industry. These companies benefit from the concept in the long term by gaining access to new ideas, talent and a multi-layered industry network.

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The first day of the program with the other companies that will innovate the tourism industry. The first 3 days took place in the palace Schloss Helbrunn.

A short trip to one of the highest viewpoints with our friend and security specialist Nikolaos Thymianis. A moment that has shaped the complete team and helped us bond!

 

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The palace and the lake are known to the fans of the movie "Sound of Music". We were allowed to enjoy this place for interesting workshops.

 

 

 

 

Here we are on our way to the  Demo Day with the caresocius team to convince investors why we will help to revolutionize border-crossing health. DemoDay_NextFloor_Austria_caresocius

 

The Pitch room was well attended and the Startup companies are preparing what they have learned for the pitch.

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The Big Day!

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On the last day part of our UK Team flew back to London from Munich. We had a hard time saying good-bye, but were happy that everyone got home safely.

LESSON LEARNED

The various events we attended were very interesting in terms of content and lessons learned. The founders evolved their way of pitching and met a lot of fascinating people. The founders have nevertheless noticed that venture capitalists in Europe are or have become very conservative in their investment approach and seem to run away from venture, which can challenge a young company.

Our Lesson learned: Build up a strong operational business model with high traction to be more independent of investors. Furthermore, establish various investor networks and maintain these contacts in order to have different approaches in various situations.

I also advise every founder to inform himself about various investment possibilities, maybe a VC is not the right way to move forward for your business?! And to read his business plan including financial plan at least three times a week.

 

 

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