The Path to Your Own Start-Up
Depending on the statistics, only around 10 to 20 percent of all start-ups succeed. Company formations in general fare somewhat better: around 50 percent are still active in the market after five years. So what sets successful founders apart from those who hat to give up? HECTOR School of Engineering and Management, the Technology Business School of the Karlsruhe Institute of Technology (KIT), together with the KIT Founders Forge, has explored this crucial question and found some answers.
Solid Foundations
Globally, 41 percent of founders hold a degree in business or economics, 23 percent are engineers, and another 13 percent have a background in computer science, computing, or mathematics. This is also reflected in the HECTOR School's academic portfolio. "In our six part-time master's programs, we provide exactly the key academic qualifications needed to successfully launch a business: technology, management, and digitalization," says Martina Waldner, Senior Program Consultant at HECTOR School.
HECTOR School works closely with the Institute of Entrepreneurship, Technology Management and Innovation (EnTechnon) at KIT. The institute explores how new technological and business ideas can be transformed into innovations through entrepreneurial action. A partnership with ESADE Business School in Barcelona provides insights into how innovations can succeed in the market and what modern corporate management entails. "HECTOR School students gain the qualifications, network, and motivation to achieve anything - true to our motto: "Meet the best, study with the best and excel!" says Martina Waldner.
In addition, the KIT Founders Forge provides support and advice on all matters relating to entrepreneurship and starting a business.
Expert Start-Up Support
Founded ten years ago, the KIT Founders Forge can no look back on an impressive track record: 300 spin-offs in ten years and counting, 50 patents and 100 invention disclosures, as well as 50 events each years. "As one of the largest university start-up centers in Germany, the KIT Founders Forge supports founders from the initial ideal all the way to launching their company," explains Thomas Neumann, Head of KIT Founders Forge.
A global network of business angels, mentors, company executives, and investors - particularly in the fields of technology, digitalization, AI, biotechnology, mobility, and energy - helps connect founders with the right partners. "Even if there is a question we cannot answer ourselves, we can guaranetee that we know someone who can!" Neumann emphasizes. The Founders Forge offers training sessions, events, trade fair opportunities, and individual consulting not only to KIT graduates and students, but also to founders thoughout the region.
The 150-Percent-Factor
Numerous HECTOR School alumni have taken the leap into self-employment and founded successfull companies. One of them is Matthias Frielingsdorf, now co-founder and Head of Research as iVerify. His company specializes in detecting spyware such as Pegasus, which can infect mobile devices previously considered immune to cyberattacks.
Drawing on his experience as a multiple-time founder, he sums up his approach: "To succeed, give it 150 percent. Your own expertise is important - and if it is not enough, complement your team with people who are experts in their respective fields and share the same entrepreneurial values." In his experience an in-depth market analysis can also make the difference between the success and failure of a start-up. "Your idea can be as great as you like, but if there is no one ultimately willing to pay for it or believe in its added value, it will not work."
KIT spin-offs such as INERATEC, Phytonics, Kolibri Games, Turn2X, thingsTHINKING, and HQS Quantum Simulations, each having secured several million euros in investment capital, are impressive examples of how successfull entrepreneurship can thrive in Germany and Europe. What they all have in common is that they received close support from the KIT Founders Forge and dedicated mentors, while being part of a strong international network of founders.
HECTOR School is one of the network's key hubs. Through its tailored master's programs, it opens a wide range of doors for its graduates. But ultimately, each person has to take the step though them themselves.
