Insights into the three-day Max Planck start-up incubator Bootcamp from the perspective of the start-up SimBricks and how they develop their future science-based company in Phase 1 of the start-up program.
© Bert Willer for Max Planck Innovation
The last MAX!mize Bootcamp took place 3 months ago. We are currently in the middle of Phase 1 of the MAX!mize incubation program. Two of the total of 4 two-day Check-ins in Munich have already been successfully mastered by the teams in Phase 1. From team building and product development to options for financing a start-up - the teams were able to learn a lot of start-up knowledge and also develop personally in various sessions with experienced trainers as well as through individual advice from our start-up coaches.
How is the Max Planck Start-up Incubator Bootcamp remembered? What topics were particularly valuable? What development opportunities did the three-day Bootcamp, which was crucial for acceptance into Phase 1, offer?
We were curious and asked these questions and many more of one of our teams in Phase 1. Here are the answers from the start-up SimBricks. And watch out: For all those who are considering applying, there are valuable tips for participating in the Bootcamp hidden at the end of the interview.
SimBricks streamlines development of specialized computer hardware components, the foundation for advancements in modern computing. We provide a virtual prototyping solution that lets hardware developers test, measure, and demonstrate their product performance within complete customer systems—well before physical prototypes are available. Our customers innovate faster, cut costs, and build better products because they can make more informed and better engineering decisions, design products with increased agility, and boost their sales efficacy.
What inspired and motivated you to sign up for the start-up incubator MAX!mize?
Antoine’s research group originally developed SimBricks to enable full-system evaluation in ongoing research projects. Over time we also started seeing commercial potential in SimBricks and started exploring tech transfer. We quickly realized that we should seek help to figure out how to create a start-up. Since SimBricks was developed at MPI-SWS, our Max Planck incubator was the natural starting point to get answers, tips, and general support.
What was your first impression of the Max Planck start-up incubator Bootcamp and the community there?
We received a very friendly welcome at the Bootcamp. The atmosphere was warm and open, and everyone involved was eager to share advice and feedback.
What (personal) skills, strenghts or insights did you gain from the Bootcamp that now help you in your everyday life as a science-based founder?
MAX!mize was very helpful in expanding and rethinking our start-up idea from a business perspective, especially given that we’re all founders with a technical background without start-up or business experience. Learning from the experiences of other founders and getting feedback from experts on our
business idea has helped us a lot.
Which session or workshop did you get the most out of and why?
We found the workshops on developing a business model particularly helpful. Here we were able to quickly determine which questions and problems we still needed to solve in order to set up a successful business.
How did the Bootcamp change or develop your business idea or approach?
None of us had any start-up or product development experience before, so everything from market and competitor analysis to customer interviews is new to us. Therefore, all the sessions related to developing a general strategy and approach were very helpful for learning how to develop a product that customers really want and a business model that works from both a customer and start-up perspective.
© Bert Willer for Max Planck Innovation
What was the biggest challenge you overcame during the Bootcamp?
Pitching in front of the jury. In contrast to giving presentations in an academic environment, pitching in front of a panel of judges who are not all technical experts in our field, but on the business side of things, was challenging.
How would you describe the community and the exchange with the other participants?
We found ourselves in an environment of people who supportand encourage each other in their entrepreneurial endeavors. Everyone is very open, sharing their experiences, opinions and tips, which has made us even more motivated for our start-up!
Have you made contacts or friendships that will stay with you beyond the Bootcamp?
During the Bootcamp we made a lot of interesting connections that we hope to stay in touch with.
What are your three advantages in the start-up world?
Due to our scientific background, we possess a strong experimental mindset, constantly testing new ideas and hypotheses which is an invaluable skill when developing business models, products or marketing strategies.
Our deep technical knowledge and expertise, rooted in our scientific training, enable us to build efficient and robust software solutions.
Our scientific training fosters a strong analytical approach, allowing us to break down complex problems into manageable components and devise effective solutions.
Would you recommend the Bootcamp to others, and if so, why?
Yes, we would, especially for scientists for whom the idea of founding a start-up is new and who potentially have no experience in founding a company. The MAX!mize Bootcamp was helpful for putting our own idea to the acid test for the first time and to get early feedback to minimize mistakes.
What learning and piece of advice would you give to other founders who are considering taking part in the MAX!mize Bootcamp for Max Planck scientists?
You should think about whether the product solves a real problem that customers want to pay money for and less about technical gimmicks. Technical and research ideas are great when considering founding a company, but only if you can build a sustainable business based on them.
What are your next steps after the Bootcamp in Phase 1?
We are currently concentrating on acquiring potential customers and launching initial pilot projects to obtain feedback on our prototype. Following Phase 1 and now equipped with a good overview of customer requirements, we want to further develop our product and win first customers through our pilot projects to validate our approach, receive initial revenue, and enable us to secure funding for future grow.
Thank you once again for the honest and open interview. We from the MAX!mize team are always very pleased and grateful when we see that our incubation program is bearing fruit regarding the great progress our teams! Your team, and of course everyone else who dared to take part in the MAX!mize Bootcamp with their idea, can be really proud of themselves! Because it takes a lot of bravery and boldness!