Venture Capital & Consulting @catagonia - Tumblr Blog

Posts

CeBIT 2015 mit neuem Angebot für Gründer und Investoren: Neuer Ausstellungsbereich CeBIT SCALE 11 für das Ökosystem Start-ups +++ Bereits zahlreiche Partner aus der IT-Branche

Hannover/München. Die CeBIT 2015 weitet ihre Angebote für Gründer, Entwickler und Investoren aus der internationalen IT-Branche stark aus und wird so zur europaweit größten Veranstaltung für junge IT-Unternehmen. Unter dem Titel „CeBIT SCALE 11: The Source of Digital Innovation“ präsentiert sich vom 16. bis 20. März das gesamte Ökosystem rund um Start-ups in Halle 11. Der Ausstellungsbereich führt Jungunternehmer gezielt mit Konzernen, Akzeleratoren sowie Investoren zusammen. Dabei geht es vor allem darum, das kreative Potenzial von Start-ups hervorzuheben, Netzwerke zwischen Jungunternehmen und etablierten Konzernen zu erweitern sowie Investitionsanreize für Finanziers zu schaffen.

„Die CeBIT ist seit jeher die Plattform für Innovationen und neue Geschäftsmodelle. Hier haben immer wieder junge Unternehmen gezeigt, dass sie mit einer guten Idee ganze Branchen umwälzen können“, sagt Oliver Frese, CeBIT-Vorstand bei der Deutschen Messe AG. „Doch für diesen Weg brauchen sie Unterstützung. Mit der Innovationsplattform CODE_n gibt es auf der CeBIT bereits ein überaus erfolgreiches internationales Sprungbrett für Start-ups, das gezielt junge mit etablierten Unternehmen verknüpft und nachhaltige Partnerschaften generiert. CeBIT SCALE 11 wird dieses Angebot nun ergänzen und Gründer und Entwickler auf der einen sowie Unternehmen, Mentoren und öffentliche sowie private Investoren auf der anderen Seite in den Dialog bringen.“

CeBIT SCALE 11 wird maßgeblich von der Wirtschaft unterstützt: Acht Monate vor der Veranstaltung fördern bereits zahlreiche Partner der Industrie die Initiative. Darunter sind Berlin Partner für Wirtschaft und Technologie GmbH, BITKOM, Bundesverband Deutscher Kapitalbeteiligungsgesellschaften (BVK), Catagonia Capital GmbH, Deutsche Telekom, German Accelerator Inc., High-Tech Gründerfonds, hannoverimpuls, die Investitions- und Förderbank Niedersachen (NBank) sowie Microsoft Deutschland.

Auch der Bundesverband Deutsche Startups e.V. begrüßt den Schritt der Deutschen Messe AG: „National wie international gibt es eine Vielzahl an Netzwerk- und Informationsveranstaltungen für junge Unternehmer. Die CeBIT bietet jedoch als einzige ein effektives Bindeglied zwischen Start-ups und etablierten IT-Unternehmen sowie Investoren. Wir unterstützen CeBIT SCALE 11, weil diese Plattform alle Puzzleteile des Ökosystems Start-ups zusammenbringt und dadurch nationale und internationale Durchschlagskraft haben wird“, erklärt Vorstandsvorsitzender Florian Nöll.

CeBIT SCALE 11 bündelt die Formate für Gründer und Investoren auf der CeBIT in der Halle 11 und ergänzt damit den internationalen Innovationswettbewerb CODE_n. Die Ausstellungsbereiche „jung und innovativ“ sowie die „International Start-up Area“ aus Halle 6 der jüngsten Veranstaltung werden in CeBIT SCALE 11 integriert.

Der neue Bereich in der Halle 11 setzt zudem auf eine innovative Wegeführung. „Um den Inhalten noch stärker gerecht zu werden, wollen wir klassische Hallenstrukturen auflösen und eine stark kommunikationsorientierte Atmosphäre schaffen“, sagt Frese. Der Name CeBIT SCALE 11 leitet sich zum einen aus den dort verankerten Schlüsselbegriffen der angesprochenen Zielgruppen ab: Create, Develop, Elaborate und Found. C, D, E, F deren Initialen ergeben eine Tonleiter (Englisch: scale). Die Zahl 11 begründet sich durch die Halle 11, in der das Ökosystem Start-ups beheimatet ist.

Bereits in der Vergangenheit war die CeBIT für viele junge Unternehmen aus der IT-Branche ein entscheidender Schritt in der Geschäftsentwicklung. „Die CeBIT hat vielen jungen Unternehmen den wichtigen Impuls für ihre Weiterentwicklung gegeben. Sie können hier ihre Geschäftsidee am Markt prüfen, ihre ersten Kunden finden oder Investoren, die ihnen neue Geldmittel für weiteres Wachstum zur Verfügung stellen. Mit CeBIT SCALE 11 gehen wir diesen Weg nun konsequent weiter“, stellt Frese fest.

IS B2B THE NEXT BIG THING?

According to Morris, Pitt and Honeycutt, the huge growth that B2B marketing is experiencing is largely due to three "revolutions"

1. The Technological Revolution:

The internet and digital technology has changed our lives much more than we realize and the current generation of buyers have much more power in their decision making process. This is also true for the B2B industry, which involves digital interactions that are constantly increasing.

2. The Entrepreneurial Revolution

Over the last few years of macro-economic downturns, many companies are becoming leaner, by downsizing staff and trimming their budgets, as well as trying to reinvent themselves. Speed and innovation are key to standing above the competition, and B2B marketing is taking the lead in identifying new users for existing products, as well as new products to satisfy unmet needs.

3. The Marketing Revolution:

Customization is becoming the norm. The solution provided to every customer is being tailored to fit their needs, and gone are the days when “mass-market” was commonplace.

The internet, especially social media, has become one of the most important sources for B2B customers. On the seller’s side, the share of revenues from B2B sales through digital distribution channels has doubled over the last 10 years. This can be partly attributed to the fact that digital distribution channels have very low fixed costs. It also helps them acquire new consumer groups such as SMEs, while allowing them to modify their “Go-to-Market” approach.

Almost half the consumers in the B2B realm prefer less face-to-face sales time and more interactions over the internet, while also demanding more flexibility in the design of their product.

As a consequence, B2B marketing budgets are on the rise as well. Almost half of marketers in the B2B space have decided to increase their budgets for 2013. Specifically, 67.2% of marketers plan to increase their digital marketing spending, and 52.5% of content marketers will up their search marketing budgets [1].

Dell came up with the “Dell Social Media Command Centre” in 2010 that tracks all references to Dell in social media, in multiple languages. All the employees are trained at a “Social Media University” which allows them to represent Dell in social media and the blogosphere. This allows each department of Dell to use social media for representing its own part of the business.

Perhaps the golden age for B2B has arrived. What we are seeing today is a major shift in marketing trends, and to think that we are not moving forward would be wrong. Regardless of what era we find ourselves in, companies must keep up with the times or risk being left behind.

High valuations of Internet companies: Justified?

Facebook is currently valued at $100 Billion, while Forbes estimates that Twitter is valued at around $10 Billion. To some, this might be slightly reminiscent of 1999, the dreaded dotcom bubble. So what is it about internet companies that drive such high valuations?

To answer this question we need to delve deeper into the topic of why internet companies, including those that make no money (yet!), have “high” valuations. It can be due to a variety of reasons, such as:

A highly successful team

The space is buzzing with investors who compete to fund, and thus drive up the valuation.

High potential to be bought out by a bigger player like Google or Yahoo

The focus is on building the product/brand/user base, and monetization is not a priority at the moment

Valuation does not just denote the current performance of a company, but its potential for future growth.

Let us take the example of Dropbox, which has a $4 Billion+ valuation. As of 2011, Dropbox had revenues of about $240 Million, a user base of 50+ million (currently pegged at 100+ million) and only 4% of these users had paid account. Quite impressive at that time for a 4 year old company!

Juxtaposing the above points with Dropbox,

Team: Dropbox seems to have a great team and attracts a lot of smart talent from across the globe. The fact that the founders are still with the company says a lot.

The Space: A large majority of the users are yet to pay, and 2GB is hardly enough space these days. Besides, Cloud Computing has seen 50% plus growth rates in recent times and is a very lucrative sector to be a part of.

Exit Potential: With major players in the industry such as Google and Microsoft, each with their own offerings in cloud storage, the competition is bound to intensify. There are high chances that one of them will attempt to buy Dropbox to hold a majority share of the market.

To address the question of high valuations for pre-revenue firms, let’s consider Quora, a Q&A website with a $1 Billion valuation.

Monetization:

The focus of the firm currently is to develop its user base and product offering. Despite not having developed a solid way of bringing in money, it has acquired millions in funding from VC firms.

This can be attributed to the fact that the market potential has been proven. Quora is a treasure trove of information and there are multiple B2B or B2C methods to use it. And of course, there is always advertising.

So.... are these astronomical numbers justified?

Internet and other tech stocks were overvalued in 1999 shortly before the dot-com bubble burst but the sector is not in the same kind of peril today. Wharton finance professor Jeremy Siegel notes that it is a “world of difference”. Back then, notably in April 1999, tech firms such as AOL were trading at around 700 times their Earnings per Share (EPS), and had close to 20 million subscribers. It is not the same case as today, where firms like Google and Microsoft are trading at about 18 times EPS, which can hardly be classified as overvalued when the Nasdaq index as a whole is trading at 15 times EPS (as of 22.03.2013). Besides, the number of internet users in 1999 was a meagre 250 million, compared to today’s 2.8+ Billion.

One anomaly is Facebook which is currently at close to 200 times EPS. In 1999, the uncertainty was centred on whether and how Internet companies would make money; it turned out a lot of them couldn't, or at least not enough. This time around, talk of another tech bubble is focused on firms that have revenue streams and even profits. There are few doubts that seven-year-old Facebook is viable. The uncertainty is focused on what additional revenue streams it might leverage from the community it is amassing and how big those revenues can grow.

In the end, it is not a question of inflated numbers but whether each firm can live up to the expectations.

Ralph & Andreas being interviewed by Gründerszene

http://www.gruenderszene.de/interviews/catagonia-suchen-rohdiamanten

Catagonia Venture Lounge 2012

The 2012 edition gathered professionals from these different universes and we are proud to have brought them together under the motto ‘Building Bridges’.

We interviewed most of our attendees during the course of the evening and asked them a few questions including:

What is the biggest mistake that founders make?

What does ‘Mobile’ mean to you?

What are the hot topics for the future?

Watch the answers in our Videos below (In German), featuring among others Ferry Heilemann, founder of Daily Deal & Heilemann Ventures, Christoph Raethke, founder of Berlin Startup Academy, Christoph Walther, CEO of CNC, David Dean, Senior Partner at BCG, Bodo Thielmann, COO at Axel Springer and many more...!

What is the biggest mistake that founders make? - Interviews at Catagonia Venture Lounge 2012

What does ‘Mobile’ mean to you? - Interviews at Catagonia Venture Lounge 2012

What are the hot topics for the future? - Interviews at Catagonia Venture Lounge 2012

"Ist Berlin das neue Silicon Valley?" - Interviews auf der Catagonia Venture Lounge Die Catagonia Venture Lounge findet als jährliches Networkingevent kurz vor Jahresende über den Dächern von Berlin statt und hat zum Ziel, Investoren, Business Angels, Gründer und Venture Capital-Interessierte in lockerer Atmosphäre zum ungezwungenen Gedankenaustausch zusammenzubringen. Der Spaß steht dabei im Vordergrund und führt oft zu den besten Ideen und Konstellationen aus einer angeregten Diskussion. Wir fragten die Teilnehmer:

a) Was zeichnet Berlin für Gründer, Investoren und Menschen mit Ideen aus? b) Wird Berlin das neue Silicon Valley und was begünstigt diese Entwicklung? c) Was ist bei einem Start up in Berlin zu beachten?

Für alle Interessierten gibt es hier nochmal die Einzelbeiträge der Befragten in voller Länge als Downloadlink.

Viel Spaß beim Anschauen!

"Is Berlin the European Silicon Valley?" - Interview at Catagonia Venture Lounge

Catagonia Venture Lounge takes place as an annual networking event shortly before year end on the rooftops of Berlin. The objective is to unite investors, business angels, founders and people with an interest in venture capital in a cool and relaxed setting. We asked Eran Davidson, Managing Partner and CEO of Hasso Plattner Ventures a) What makes Berlin exciting for founders, investors and people with ideas? and b) Will Berlin be the next Silicon Valley and what accelerates this development?

Enjoy watching!

#Catagonia #Catagonia Venture Lounge #Berlin Event #Eran Davidson #Hasso Plattner Ventures #Ralph Eric Kunz #Andreas Harting

Where do you see Berlin’s start-up scene going?

Anne is a French intern at Catagonia. Here’s a snapshot of her Berliner experience.

The one thing I learned about Berlin, after having lived there for the past year, is that it’s a city full of contrasts and contradictions: Berlin is a mecca for bohemian lifestyle seekers and penniless artists craving for inspiration, but it is also the capital of one of the world’s strongest economies. Berlin has one of the highest unemployment rates in Germany (14,2%), but at the same time attracts numerous people who want to set up their own business.

A lot of my friends found jobs in trendy Berlin start-ups. Zalando, Brands4friends, Mister Spex, Aupeo, eDarling, Wooga, etc. – some of the most exciting new German companies are founded here. Others, like the Swedish start-up Soundcloud, on purpose moved from Stockholm to Berlin. Yet, in this context of entrepreneurial effervescence, some major criticism has been made to Berlin over and over. Berlin, which is the cradle of creativity, oddly seemed to show more interest in establishing German copycats of successful US firms (StudiVZ for Facebook, My City Deal for Groupon, 9flats for Airbnb) than creating something brand new.

I personally wanted to work in Venture Capital and stay in Berlin. Surprisingly not such a good combination. Indeed, I rapidly discovered that if Berlin truly is Europe's new hottest tech hub for start-ups, the main VCs are based in Munich, Frankfurt or Hamburg. You would think: where you find start-ups, you’ll find VCs. As in the Silicon Valley, where the coexistence between founders and investors creates a stimulating synergy. But it’s not the case in Berlin.

A city full of promising start-ups, but only a few VCs. A city driven by creativity, but only backing copycats. Just further contradictions. What has been described to me as the new Silicon Valley suddenly seemed to present huge drawbacks.

But after observing the local entrepreneurial scene and working at Catagonia for the last 3 months, I have to admit I’m no longer concerned about Berlin’s future as Europe’s new tech hub. There might be copycats. However, what strikes me the most, are all the exciting projects flourishing over the city. The fun one, like EyeEm, a new smart camera App. The mysterious one, like Amen, a stealth-mode start-up who already caught the eyes of a few big investors in the US. As for Berlin-based VCs, it’s a fact: more and more funds are considering settling in Berlin. The Munich team of EarlyBird recently set the example by opening a new office in the German capital.

In addition the city offers strong incentives. No need to dwell on the attractive cost of living. Even if they’re steadily getting higher, everyone knows you still find some of the cheapest rents in Europe. It’s an undeniable perk to attract young companies and freshly out of college job seekers. After a year of study in Berlin, an overwhelming majority of my classmates wanted to stay in the city for their internship, badly. Even if the salaries were lower than the ones in Frankfurt or Munich, people were willing to work for less due to the vibrancy of the city’s cultural offer. Even if Berlin doesn’t offer a lot of opportunity for business school post-graduates like us, people were willing to widen their job-hunting perimeter due to the fascination for the city’s nightlife.

No, I’m not worried about Berlin. With its army of talented founders and its geographical proximity to all the emerging markets, the city definitely is a fertile ground for high-tech start-ups. And if you look at the next 15 years, I would bet Berlin to be the world’s leading start-up hub.

#Berlin #start-up scene #VCs #contradiction #new tech hub

techberlin-blog

catagonia

techinberlin:

EARLY BIRD CAPITAL: WHY RETURNS IN EUROPE ARE NOW OUTPACING THE U.S.

I must say that these ongoing debates about US vs. Europe that many VCs and startups like to dwell on are getting on my nerves. Most of the time people get hung up on superficialities and end up repeating the same old mantras over and over again: “it is much easier to raise funds in the US”, “Europe did not have any big exit in years”, “there is much more networking in the Valley”, ”Germans only know how to copy”, “US startups think global from the start and are risk takers” and my favorite one: ”failure is ok in the US and will make you more likely to get funding (and probably super rich)”.

Bla bla bla!

Loic LeMeur seems to be particularly apt at jumping on the bandwagon of unsubstantial spiel.

Thankfully Early Bird Capital joins the debate with some substance and concrete numbers to back up their claim. What a relief!

by Nikolas Woischnik

#Europe #US #early bird capital #start up #exit #returns

Too old for a startup? Is there an age limit for entrepreneurs?

Besides of being hugely successful entrepreneurs, what do Bill Gates, Richard Branson, Mark Zuckerberg and Kevin Rose have in common? They all created their rising-star company at the age of 20-something. An early start in the early stage business.

Recently popularized by Hollywood, the stereotype of the youthful pimply geek coding in his Harvard or Stanford dorm soon became a myth for Silicon Valley. And this “Silicon Valley syndrome” is not confined to the West coast, nor the US. Berlin, for example, also presents a large concentration of entrepreneurs under the age of 30.

But what about Jerry M. Kennelly, 51 when he cofounded Riverbed Technology, one of America’s fastest-growing tech startups according to Forbes Magazine? Mike Ramsay, 47 when he co-founded TiVo or Mark Pincus, 41 when creating Zynga? Last year's Newsweek magazine article "The Golden Age of Innovation" pointed out that the overwhelming majority of high-tech startup founders tend to be in their late 30s, early 40s. A recent TechCrunch article of Adeo Ressi, the founder of The Founder Institute, corroborated this assumption with factual data. So why don't older entrepreneurs get more love?

I personally believe you can start a company or join a startup team at any age. As an entrepreneur, I founded tyntec at the age of 34. As an investor, I would equally consider a project set up by 20-years-olds or 50-years-olds. Talent and drive don’t know any age limits. But the phenomenon still strikes me. How do you explain ageism in entrepreneurship? Younger people tend to be seen as more flexible, creative, energetic and spontaneous. They are free of family commitments and willing to show they’re capable. They’re usually interested in new technology and aware of the latest innovation. Young people definitely tend to more risk taking, as they don’t (yet) have any mortgages hanging over their heads, nor do they have to give up a confortable financial situation. Above all, I think they combine the right amount of both naivety and recklessness. Because, let’s be honest, if you rationalize, there are a hundred reasons not to start a business. It might be easier for someone young not to see this.

As to elder people, they benefit from more experience. They have acquired significant knowledge in their past jobs. They can leverage a pretty extensive network. Therefore they are more credible as expert in a specific sector. They are financially stable and can even invest their own money in their company at a seed stage.

20-something and 40-something founders both have great assets to offer. The real question is how investors perceive them. If investors believe younger entrepreneurs are better, they are more likely to fund them. And no one can deny the high correlation between getting funds and success. So we shouldn’t ask ourselves about the correlation between the age of the founder and the success of his future company. What really matters is what we as investors believe.

#entrepreneurship #age limit #20-something founders #40-something founders #success

How successfully pitch to us investors?

Here is a short guide on how to prepare your investor pitch. Our team is being approached by a lot of start-ups and unfortunately the majority of them fail very early in the process because they did not do their homework. If you would like to get the attention you deserve, please make sure to follow these tips.

1) Capture our attention within the first 90 seconds

Start your pitch by telling us everything you are going to tell us during your presentation. This should cover the market potential and the share of market you expect to capture; the need for your product or service; the ways in which your business will transform that need into a business opportunity; your competitive edge; and the amount of money you’ll need.

2) These are the key issues to be included in your pitch deck

Which problem are you going to solve? Forget about feature lists and tell us instead which problem your company is going to solve. Make us believe that the world cannot live without your product or service and convince us that you understand your buyer’s needs.

What is your solution? How are you going to solve the problem? Outline the features and capabilities of your service or product.

Describe your business model: Where are your revenue streams coming from? What is the underlying magic or technology you are going to use?

Define the market and its potential: We want to know that you understand your market and that the market has big potential. Tell us its size, characteristics, growth potential and trends.

Have a unique marketing strategy: How is your target market going to find out about you? Explain in more detail positioning, pricing, distribution channels, sales, advertising and PR. How do you get early adopters to advocate your offering and can you trump with strategic alliances that help you penetrate the market faster?

Analyze Your Competition: Show us that you know your competition well, explore their strength and weaknesses. How are you going to beat them and what is your competitive edge? Do you own any patents, copyrights, proprietary processes or technology, exclusive licenses or agreements? And by the way, do not tell us that you do not have any competitors. Having no competition usually means there is no market, which in turn means we are not interested in investing.

Who is on your team? Proof to us that you work with the best heads in your industry or that you are able to convince them to work for you.

Your projections: Give us an estimate of number of customers, key accounts or users as well as revenue you are planning to generate within a certain timeframe.

The status and timeline: Where are you now and which are your milestones for the near future?

Summarize and give us a call to action: Before we go into discussions summarize your points and tell us exactly what our next steps should be.

3) Use good style

A typical pitch presentation lasts one hour of which you present for twenty minutes and spend 40 minutes on discussion. We highly recommend using Guy Kawasaki’s 10/20/30 rule: 10 PowerPoint slides lasting 20 minutes in a font no smaller than 30 points.

Create emotional impact by telling a story (i.e. who are your typical customers and what are their pain points?) and using appropriate images and graphics.

4) Be prepared to answer questions

You can most certainly expect a number of questions. How tough you’ll find answering them depends on how well you prepared your pitch. You need to be able to explain your business model and assumptions and how you came up with the numbers in detail.

5) Prepare and practice

The more you practice your pitch and the better prepared you are the more eloquent your presentation will be. Not only will that help in managing your pitch fright, it will also show us that you take us seriously and appreciate us taking our time to listen to you.

6) Stay authentic

The more authentic you come across, the more credible you will be for us. And credibility is the most important factor in any investment decision.

A fun and clever summary of getting the VC pitch right

#pitch deck #investor presentation #get funding

Business Angel, Super Angel, micro-VC, VC - how does one keep these investment players apart?

Once upon a time the startup investment landscape was clear and simple. When you were creating your business, the first investment circle was your family and friends – the so-called “love money” - usually in the range of thousands to tens of thousands €. You would then turn to a Business Angel, wealthy individuals betting with deep pockets, willing to insert € 20,000 to let’s say 500,000 € into your venture. Both investment types represents “Seed Investment", where people take a leap of faith, considering your company doesn’t generate any cash flows yet. Then, after your business is starting to take off and your product or service gains market traction and generates revenues, perhaps even bringing you towards break-even, you could go pitch to Venture Capital firms to get more substantial money. Most traditional VC funds rarely consider investing fewer than € 1 million.

This tidy investment landscape has now changed, with a multitude of investment players stepping on stage: Super Angels, Angel funds, micro VCs, etc. This imperceptible shift is causing great complexity and, above all, great confusion. And as I’m frequently asked what Catagonia is and does, I needed to take a closer look at these different categories and the role they play in the VC industry.

On the one hand, you have Business Angels, individuals investing their own capital in Startups. As previously written, Angel capital historically builds the bridge between "friends and family" financing and Venture Capital. At least until recently... Some Angels have begun raising funds from outside investors. Others started to regroup in “Angel funds” and invest as a formal team. The creation of such fund vehicles has begun to affect the traditional Venture-Capital firms, fearing to loose attractive high potential targets. You might also have come across the term “Super Angels” lately. Those are very active investors (let’s say with a portfolio of > 25 companies) that are now playing a major role in the Seed-Investment stage.

On the other hand, you still have Venture Capital firms, managing institutional capital. Some firms are specialized either in early or later stage, but in theory a Venture Capital firm can be involved in any investment stage pre-IPO. Historically, as described above, Venture Capital will invest in a company after Business Angels and with larger amounts of capital. But then micro-VCs (also called Seed-Stage VCs) surfaced, basically Venture Capital firms who do Seed Investments of € 200.000 to € 500,000.

Therefore the line between Super-Angels and micro-VCs is very thin. Both share a very similar investment strategy. Some say the difference is just branding and a question of marketing (it’s easy to understand why it’s better to be “super” than “micro”). But I would have to disagree. Indeed one should not forget that for a VC the majority of the capital being invested is always provided by institutional investors. For a Business Angel the majority of capital being invested is his own. Period. And that difference is substantial.

Anyway, the takeaway from all this theorizing is that Catagonia is a micro Super-Angel, own money but not enough investments to be super...

#Business Angel #Seed-Investment #Super Angel #Venture Capital #micro-VC #Angel funds

Bloomberg Businessweek article about Berlin:

"Many entrepreneurs say Berlin, which has some of the cheapest rents and lowest employment costs in Europe, offers ideal conditions for starting up a company. According to Berlin city officials, 60 startups sprang up in the capital last year, and a quarter of the Swiss-based European Tech Tour's top 25 tech startups from German-speaking countries are based in Berlin."

Kongress Junge IKT-Wirtschaft: Gründen-Investieren-Wachsen

20.06.2011, Berlin

Trending Blogs

Recently Viewed Blogs

Venture Capital & Consulting