Former strategy consultant turned entrepreneur and podcaster
  [A Ping-Pong table, a PlayStation or a table football] don’t help that much if the [corporate culture] is broken.  Christopher Oster, CEO and Co-Founder Clark   In this interview we are talking to a previous guest. Christopher Oster is the CEO and co-founder of Frankfurt-based insurtech clark. In the past we talk to him about the appearance of Clark on Bloomberg’s list of startups to watch, back in 2017. Now they raised an 85 m US$ series C venture capital round, with noteworthy investor Tencent from China. We talk to him about the funding, the way to the funding and their plans.    Insurance has still not really penetrated by technology … you have unhappy customers … this is a great opportunity for a founder. Christopher Oster, CEO and Co-Founder Clark  EnablerThis recording was made possible by (Hessen Trade and Invest). Learn more about our enabler here: https://www.invest-in-hessen.com/   In 2015 there was almost no funding for insurtech startups, it all started in 2016 Christopher Oster, CEO and Co-Founder Clark    The FounderIn this interview we are talking to Christopher (https://www.linkedin.com/in/dr-christopher-oster-3158802/) the CEO and co-founder of Frankfurt-based insurtech clark. In the past we talk to him about the appearance of Clark on Bloombergs list of startups to watch, back in 2017.   You have a paper folder with your insurance policies, but nobody checks if the insurance policies still matches your life.  Christopher Oster, CEO and Co-Founder Clark   The Startup  The startup was built by a group of four friends, who to together, since they could not find the help they wanted with their insurance needs. The whole founding team is still on board, more than 5 years after the company was set up Crunchbase (https://www.crunchbase.com/organization/clark-2), company website (https://www.clark.de/).     An average German has six insurance policies with 4 different insurance carriers. Christopher Oster, CEO and Co-Founder Clark   The Interview from 2017  The whole blog post is here: https://www.startuprad.io/interviews/clark-de-startup-germany-bloombergs-list-50-promising-startups/ Or just tune in to the interview here: https://open.spotify.com/episode/3xryTBqaxncpSrnXO3L3QQ?si=2qC09ZDDTJ6XnewH7_LMvg   For our series a, we talked to 300 VCs or so. There was a lot of uncertainty and many other companies started as well. Christopher Oster, CEO and Co-Founder Clark   Feedback  Reach out to us, here is our audience survey, to give us feedback, suggest topics, interview partners or just to say “Hallo!” https://forms.gle/mLV6mVKwGwKuut8BA   The InterviewerThis interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:LinkedInTwitterEmail   Follow us on Social MediaInstagram https://www.instagram.com/startuprad.io/ LinkedIn https://www.linkedin.com/company/4837115/ Twitter https://twitter.com/startuprad_io
This is the fintech track of Startuprad.io. Find us on Twitter: https://twitter.com/fintech_germany Learn more about us at www.startuprad.io   [A Ping-Pong table, a PlayStation or a table football] don’t help that much if the [corporate culture] is broken. Christopher Oster, CEO and Co-Founder Clark   In this interview we are talking to a previous guest. Christopher Oster is the CEO and co-founder of Frankfurt-based insurtech clark. In the past we talk to him about the appearance of Clark on Bloomberg’s list of startups to watch, back in 2017. Now they raised an 85 m US$ series C venture capital round, with noteworthy investor Tencent from China. We talk to him about the funding, the way to the funding and their plans.    Insurance has still not really penetrated by technology … you have unhappy customers … this is a great opportunity for a founder. Christopher Oster, CEO and Co-Founder Clark   Enabler This recording was made possible by (Hessen Trade and Invest). Learn more about our enabler here: https://www.invest-in-hessen.com/   In 2015 there was almost no funding for insurtech startups, it all started in 2016 Christopher Oster, CEO and Co-Founder Clark     The Founder In this interview we are talking to Christopher (https://www.linkedin.com/in/dr-christopher-oster-3158802/) the CEO and co-founder of Frankfurt-based insurtech clark. In the past we talk to him about the appearance of Clark on Bloombergs list of startups to watch, back in 2017.   You have a paper folder with your insurance policies, but nobody checks if the insurance policies still matches your life. Christopher Oster, CEO and Co-Founder Clark   The Startup   The startup was built by a group of four friends, who to together, since they could not find the help they wanted with their insurance needs. The whole founding team is still on board, more than 5 years after the company was set up Crunchbase (https://www.crunchbase.com/organization/clark-2), company website (https://www.clark.de/).     An average German has six insurance policies with 4 different insurance carriers. Christopher Oster, CEO and Co-Founder Clark   The Interview from 2017   The whole blog post is here: https://www.startuprad.io/interviews/clark-de-startup-germany-bloombergs-list-50-promising-startups/ Or just tune in to the interview here: https://open.spotify.com/episode/3xryTBqaxncpSrnXO3L3QQ?si=2qC09ZDDTJ6XnewH7_LMvg   For our series a, we talked to 300 VCs or so. There was a lot of uncertainty and many other companies started as well. Christopher Oster, CEO and Co-Founder Clark   Feedback   Reach out to us, here is our audience survey, to give us feedback, suggest topics, interview partners or just to say “Hallo!” https://forms.gle/mLV6mVKwGwKuut8BA   The Interviewer This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:LinkedInTwitterEmail   Follow us on Social Media Instagram https://www.instagram.com/startuprad.io/ LinkedIn https://www.linkedin.com/company/4837115/ Twitter https://twitter.com/startuprad_io  
This is the fintech track of Startuprad.io. Find us on Twitter: https://twitter.com/fintech_germany Learn more about us at www.startuprad.ioMedia PartnershipThis podcast is in media partnership with the FinTech Forum (http://www.fintechforum.de/). The FinTech Forum - launched 2013 in Frankfurt am Main - is the first and largest hub for FinTechs in Continental Europe, with a community of more than 12.000 companies. With more than 17 events, with more than 270 startups on stage, and more than 1.000 investors and financial institutions. FTF alumni have raised $310mn+ in funding and resulted in exits worth $300mn+.   The FounderIn this interview, we talk to Friedrich von Jagow (https://www.linkedin.com/in/friedrich-von-jagow-9778bbb8/), a lawyer by training. He also holds a degree (LL.M.) in Law & Economics, since he was always interested in economics. During his training as a lawyer, he also chooses a station at the German Chamber of Commerce in Shanghai, China. After his final examination, he started with Wirecard but then left to set up his own company. This company turned out to be Commnex, the idea which he has developed with a friend and a professor over a glass of wine.   The StartupThe Munich-based FinTech CommneX (https://www.commnex.de/, https://www.crunchbase.com/organization/commnex-gmbh) established the digital platform as an online-marketplace for the Public Finance market. Public entities such as municipalities, cities, districts, or enterprises such as utility works or public transport may tender their financial needs on CommneX. Banks and other financial partners submit offers and the best match is found. CommneX provides an all-in-one platform for all financial needs from loans and credits to fund deposits of any size and term, saving products, and public subsidy programs.   Commnex on Social MediaLinkedIn Xing Twitter   The Audio Interview is set to go live at the same timeThe Audio Podcast will be published at the same time. Please give us a bit to post the Spotify link here. In the meantime, you can subscribe to our podcasts here   Feedback  Reach out to us, here is our audience survey, to give us feedback, suggest topics, interview partners or just to say “Hallo!” https://forms.gle/mLV6mVKwGwKuut8BA   The InterviewerThis interview was conducted by Jörn “Joe” Menninger, startup scout, founder and host of Startuprad.io. Reach out to him:LinkedInTwitterEmail   Follow us on Social MediaInstagram https://www.instagram.com/startuprad.io/ LinkedIn https://www.linkedin.com/company/4837115/ Twitter https://twitter.com/startuprad_io
This Month in German Startups - 2020 Review  Welcome to This Month in German Startups by Startuprad.io - in a transatlantic news recording with Chris in New York City. This is an annual tradition, where we look at the past year and forward into the coming one. Not to mention, we have been totally wrong last year with the outlook, so we are more sticking to the review this year.   Today we bring you an overview of the German startup corona aid, an overview of the German startup scene, lists of top startup stories, a few outlooks on 2021, and a bit of wine :-)    Ecosystem  European Startup Scene 2020 - Snapshothttps://2020.stateofeuropeantech.com/chapter/state-european-tech-2020/article/exec-sum/   8 crucial takeaways from Atomico's recently-launched The State of European Tech 2020 report | via Silicon Canals https://buff.ly/3m6MxVg ‘Megarounds’ helped European Tech ecosystem growWhile many founders found it more challenging to get funding, 2020 is on track to be a record year, with potential to surpass $41B invested, driven by more $100M+ deals.Germany is projected 23 bn US$Low capital, pivoting the product, and sales decline hit founders hardest in 2020International investment hasn’t dried upFrance is the only one of Europe’s three largest markets to grow in 2020. London remains the biggest investment hub in 2020Travel sector gets notably low investmentsInvestment in purpose-driven tech companies soarsGender and racial inequality still prevails in the European tech ecosystem  List: 10 biggest healthtech stories of 2020 https://buff.ly/3aQlnjv  The guinea pigs of Germany’s new healthcare revolutionBioNTech: the German biotech startup behind the coronavirus vaccine  Hot or not: Where European VC funding went in 2020 by Pitchbook https://buff.ly/3nMSzf7 - Difference to Atomico ⇒ Different source for data ... UK still has the largest VC market in total (13.7 bn $), but Germany (6.8 bn $) grew three times as fast with 10.9% vs UK’s +1.7% BUT this may also be due to Brexit. We will see what 2021 brings. According to Pitchbook France grew by an astonishing 25.4% to a total of 6.1 bn $. The other markets in Europe surpassing 1 bn $ are Sweden (3.2 bn$), Spain (1.4 bn$), and Finland (1.2 bn$).   These are the 10 largest funding rounds of Europe in 2020 https://buff.ly/2W1KGX8  including AUTO1 Group, Tier Scooters and Lilium from Germany   German Startup Scene 2020 - Snapshot Deutscher Startup Monitor https://deutscherstartupmonitor.de/ This is an annual survey by the German startup association, this year more than 1.900 startups participated.The largest share of the - participating startups - (note, there is a bias here) have been inBerlin 17,7%Rhein-Rhur (Cologne, Düsseldorf, …) 12.8%Munich 6.5%Hamburg 5.8%This is one of the reasons we try to highlight so many startups from different areas, since not only every 5th startup is in Berlin. Please note that we try to have approx. 20% of our interviews from Berlin, to give these startups also a fair representation.On average a startup in the survey employed 14.3 employees, up from 13.3 in 2019 and 12.3 in 2018. Despite Corona, 90% were planning to hire people. 15.9% of founders are female in this survey, slightly up from the previous years (15.7% in ‘19 and 15.1% ‘18)Universities play a central role as a core for a startup cluster, especially Germany’s Technische Hochschule (technical universities aka TU) e.g. TU München, KIT, RWTH Aachen, LMU München, Universität Mannheim, Universität Bremen, WHU, TU Berlin, TU Darmstadt and FU Berlin.~ 20% of founders have a migration backgroundThe most important technology is AI, more than 26.7% of startups had a SaaS business model68.8% of all startups focus on B2B, 26.5% on B2C, and 4.7% on B2G (Business to Government)The most important funding sources are the founder's own savings (used by 78.4%), government programs (used by 44.3%), and business angels (used by 31.6%). Actually, only 18.6% of participating startups have VC funding, while 42.3% want funding. DO YOU HEAR THIS INTERNATIONAL INVESTORS?Startups in Berlin (39,0%), Munich (28,8%), and Hamburg (22,1%) are the most frequently funded by Venture Capital   Fintech Survey by Comdirect Comdirect is an online bank with a small startup program. They are part of Commerzbank group and conduct an annual fintech survey in Germany. Some highlights here: Volume of top 3 deals down by more than 50%12 fintechs with more than 100 m Euros fundingTop 20 funded fintechs get more money than the other 414 fintechsThe top fintech locations Berlin, Munich, Frankfurt and Hamburg raised 72% of all VC fundinghttps://www.comdirect.de/cms/ueberuns/de/presse/fintech-studie-2020-wagniskapital.html    Venture Capital in Germany A list of Germany's largest Venture Capital Rounds in 2020 https://buff.ly/2JTtJM1    Germany’s Corona Aid for StartupsGermany extends it’s two billion (2,43 bn US$) startup corona aid program from spring 2020 until June 30th, 2021, since not all two billion Euros of the original program have been spent. The two billion have been equally divided into two pillars - called Pillar One and Pillar Two.Pillar One (1 bn €, 1.2 bn US$) is direct aid for startups, who already have external investors. As of December 31st, 860 mn Euros (1 bn US$) have been committed by KfW, which administers all of the money. You can learn more here on their website about the program, unfortunately in German only (https://www.kfw.de/inlandsfoerderung/Unternehmen/KfW-Corona-Hilfe/Start-ups.html). KfW will also provide aid to startups and companies with a “strong relation to Germany”, which may also apply to your company? Check their website.  Pillar Two (1 bn €, 1.2 bn US$) is a matching facility, were on a 1:1 basis the government matches investments. As of December 31st, 2020 only 556 million Euros ( 676 mn US$) have been committed. This program is administered by KfW, the development banks of each state (yes, 16 different ones and you have to apply at the bank in your state) and the government’s ERP fund, if you are already receiving funds from the ERP fund. Learn more here (yes, German only) https://www.kfw.de/inlandsfoerderung/Unternehmen/KfW-Corona-Hilfe/Start-ups.html. Again, you don’t need to be a German company, but only have your economic focus on Germany. Check the website if you think that may apply to you. Important: Your company must have steered clear of economic problems in 2019. Here is some more information, where you can also find more details: Germany’s startups have 2 bn Euros (2,43 bn US$) corona aid to draw upon (Known as Pillar One): https://www.bmwi.de/Redaktion/DE/Pressemitteilungen/2020/20200401-sart-ups-bekommen-2-milliarden-euro.html Plus there has been a Pillar Two, called the matching facility. Here the government (KfW) matches private investments in startups (50/50). https://kfw-capital.de/corona-matching-fazilitaet/ You can learn more here at the website of the German Business Angel Association, since the programs differ by state https://www.business-angels.de/aktueller-status-zur-saeule-ii-in-den-einzelnen-bundeslaendern/ More good news: The corona aid is extended to June 30th 2021: https://www.business-angels.de/%ef%bb%bfbrandneues-16-2020-start-up-corona-schutzschild-bis-30-06-2021-verlaengert/   How has Covid impacted Germany, Austria, and Switzerland’s startups? | Sifted https://buff.ly/3mLVgMM   Hubs Frankfurt Rhine-MainLook-back at 2020 in the Rhein Main Startup Ecosystem - Frankfurt Valley https://buff.ly/3nBVPcB Frankfurt Rhein Main attracted multiple international companies in 2020 - Frankfurt Valley https://buff.ly/3nCU7HUThe most important startup exists in 2020 https://buff.ly/3pXop9Y  including Emma, Bettzeit, Lizza and Mailtastic from the Rhine-Main AreaRhinemain.vc (Joe’s project) tracks venture funding of any kind in the Rhine-Main Area. We tracked 28 deals, in total 894 m Euros (skewed towards large rounds with BioNTech’s fundraising due to the development of corona vaccine and placement of additional shares and convertibles). Official publication to follow soon ...MunichMunich has a list of the Top 10 most important investments https://buff.ly/3bwig0k, headed by Lilium with 240 mn US$. Remember, we talked about it in the news. HamburgHad a great wrap-up: VCs holding back, Corona aid did not always help and the mood was still overall positive. Thank you for this amazing wrap-up.https://buff.ly/39rqzbe    2021 Outlook(s)We collected some outlooks, but they may be totally wrong, like last year. Only thing we can say for sure is that Germany is going to invest 10 bn € in VC funds, which in turn will invest in German startups. As said before, a few hundred millions from the corona aid for startups are also left. If we could beat corona soon, the second half of the year promises to be great for startups in Germany.  Germany launches €10bn ‘Future Fund’ for startups. But will it go far enough? | Sifted https://buff.ly/2WhCHFzAnalysis: From famine to feast, investment in European tech startups roars back https://buff.ly/38taDop The World in 2021: five stories to watch out for | The Economist https://buff.ly/2KQlsbSWhat Will Life Be Like After the Pandemic? https://buff.ly/2KQdNdNWhat’s Coming for the Fintech Industry in 2021 - IMC Grupo https://buff.ly/3aEqNhf Top Fintech Trends in 2021 https://buff.ly/34WZaMJ 6 strategy and innovation insights from MIT Sloan Management Review  | MIT Sloan https://buff.ly/3nzKB8e   Detour You guys know we like to end on a high note and sometimes take detours … :-) German wine consumption has risen during times of corona. On average a German has bought 20.7 Liters of wine (700 oz for the Americans here) in last year’s harvest season, roughly 2.5 bottles per month. https://www.deutscheweine.de/presse/pressemeldungen/details/news/detail/News/wein-pro-kopf-verbrauch-gestiegen/ 
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Creator Details

Birthdate
Sep 2nd, 1980
Location
Frankfurt am Main, Hessen, Germany
Episode Count
766
Podcast Count
9
Total Airtime
2 weeks, 3 hours
PCID
Podchaser Creator ID logo 918948