Master Innovation and Entrepreneurship (M.A.)

"A long-time professor greeted us at the start of our studies with the words: 'You're all sitting here because you want to become managers one day.' In retrospect, he was of course right, even if as a student of 20 years, you may not yet be aware of the full implications of what it actually means to be a manager. At MBS, I was convinced by the extraordinary mix of courses: Economic and Cultural History, Intercultural Management, but also the classic 'tools of the trade' such as Financial Accounting, Corporate Finance and Taxes. You don't have to know all of this perfectly as a manager and family entrepreneur, but you should at least understand something about it. The obligatory semesters abroad and internships in Germany and abroad help to recognize how the global world is connected and to deduce what this means for one's own company. The soft skills courses on presentation techniques and personal appearance were also helpful. During our studies, we groaned under the weight of presentations, but in retrospect, it was an incredibly valuable experience that I still benefit from today."

Master Alumnus Patrick Bohrer has already founded several companies and is an experienced entrepreneur. One of his “babies” is the FLSK - an innovative thermo bottle which is 100% leak-proof, sustainable and keeps drinks cold for 24 hours and hot for 18 hours.

Patrick, when did you realize that you wanted to be an Entrepreneur?
My first course in Entrepreneurship and Innovation during my Bachelor studies in the USA sparked my interest. And as I come from a family business background the idea of becoming an Entrepreneur was of course always there already.

Can you tell us how you got the idea for FLSK and what happened then?
On a very hot day in summer, one of my friends came to me - with a stainless-steel bottle from South Africa which was said to keep drinks cold for 24 hours. Amazingly, it really worked, we had perfectly chilled white wine even hours later and I was absolutely fascinated!

Thus, we simply took this existing idea and started a collaboration with the South African company that had produced these bottles. We redid everything: we improved the design and the production process and focused on e-commerce instead of wholesale.

What were the biggest challenges during the founding process of FLSK?
The major challenge was that thermos bottles already existed as a product, but had just a functional and unsexy image. It took a lot of time and marketing efforts to change how people perceived thermo bottles.

In which ways did your time at MBS help you to start your own company?
The courses in Entrepreneurship by Prof. Dr. Bergfeld were of incredible value to me. There, I acquired the basics you need for founding. On top, there were events like Munich Venture Summit. There, I had the chance to deepen the relationships with lecturers and fellow students.

Looking back, is there something you would have done differently?
I would never again write a business plan! I learned one thing: you need to trust your gut instincts and have to be persistent to follow your dreams.  For example, one week after we had founded FLSK, we realized that all our prognoses were wrong. You need to be flexible and patient. But, of course, that is easier said than done.

What advice would you give prospective entrepreneurs?
Try to anticipate the future and try to understand how markets change. Read between the lines. Consider the impact of media and how they work.

Pascal, Pitching is part of everyday business in the start-up scene. In a nutshell: What is the idea behind your sustainable start-up The Fortunate Planet? Convince us!
My team and I are developing an environmental tracking platform that cities and municipalities can use to optimize their waste management by connecting all relevant stakeholders and offering benefits. With the platform, we want to help the recycling industry in particular to recycle more raw materials and thus continuously increase recycling rates, as these are alarming on a global level. When disposed of correctly, waste is a raw material for the next participants in the supply chain. This means that the higher the recycling rates, the closer we come to a circular economy with closed material cycles. With our newly developed app The Fortunate Planet, we want to make a contribution and motivate people in a playful way to to build a digital waste disposal network and dispose of their own waste correctly by offering all relevant information for this in just one app and rewarding them for their contribution.
As a software company, we develop the necessary platform and help cities and municipalities on their way to digitalization and becoming a circular city.

From the first idea to the product launch: How long have you been working on your business idea? When was the entrepreneurial spirit awakened in you? What have been the biggest challenges, but also the biggest milestones so far?
The idea for The Fortunate Planet arose in November 2019, when I was on a backpacking trip through South America – a moment that decisively changed the rest of my journey, as I subsequently spent more time working on the concept than on the beach.
The crucial thing for us is correct disposal – and this is where we faced one of the biggest challenges in developing the app: which disposal point is recycling-friendly and which city has already digitized its drop-off points? Out of this need, we integrated the spotting of waste collection points into the app in order to build up a nationwide network in the long term, from which all users benefit and which at the same time helps the cities to classify and digitalize their waste collection points.

The biggest milestone recently was certainly the app launch for Global Recycling Day on March 18, 2021 We had originally planned to launch the app in April and ultimately launched it in the app store four weeks earlier than planned in order to be online especially for Global Recycling Day. There, the whole team did a huge job and trembled until the end. In the end, the app was approved at 6:21 am on March 18 and available as of 9:53 am – precision landing.

What role do you think innovations and start-ups play in the development of a more sustainable and greener world?
An elementary one! A small boat turns faster than a large freighter and can react more quickly to new circumstances. I see it similarly when it comes to start-ups and innovations.

And last but not least: What is your advice for young entrepreneurs or students who are thinking about founding a start-up?

Do it right away! Even if there’s a high chance that it won’t be a success, you’ll learn so many new things yourself that will help you in the long run in any job. Start with small tests and when you realize that the topic really interests and stimulates you, intensify your work.
If your personal situation allows it and you don’t have a precise idea yet: take three months and focus on identifying without pressure for yourself personally what you are looking for in life and what you want your life to look like in 5, 10 and 30 years. Then find a long-term goal that will still drive you in 10 years and build a business model around it that is in harmony with your own goals.

The full interview can be read on our blog MBS Insights.

Are there certain skills that you obtained at MBS which helped you to start your own company?
Yes, indeed, there are some. For example: to give a presentation. When you start your own company, you have to present your idea all the time. At MBS you have to give presentations all the time, so I felt very well prepared. And, by the way, I’d like to take this opportunity to give some advice: the first and the last sentence of your presentation are crucial. They will be remembered by the audience and have to be perfect. And – even though it seems obvious – look at your audience during your presentation.

Which of your characteristics as a person have helped you to become a successful entrepreneur?
Power of endurance. To keep going even when nobody believes in your idea and your company. That makes all the difference. I know many founders with great ideas who have simply given up. And there are others whose ideas aren’t that brilliant but who just kept going and they became very successful. Besides, focus on yourself and your idea, don’t let other people influence you and tell you what to do. Perseverance and patience are essential for an entrepreneur.

Would you say that Munich is a good place to start your own company?
Yes, definitely! Simply because there are six DAX listed companies in Munich whereas in Berlin there are none. We have plenty of resources in Munich, from private equity to many universities. Apart from that, the network that you obtain at MBS helps a lot. For instance, I got to know our first business angel through one of my fellow students at MBS. We don’t talk that much about our achievements here in Munich, but we should start to do so. We don’t have to be afraid at all to compare ourselves with Berlin!

Even though there are lots of entrepreneurs among our graduates, there are also those who want to be an employee. What is important for you when you recruit?
It’s essential that a new staff member is a good fit for our team. We absolutely follow our rule “In doubt don’t hire”. Applicants have to talk to many of our staff and if only one team member has any doubts regarding the applicant, we don’t make a job offer. We require very specific tasks that mostly have to be learnt on the job, but as a person, you just have to blend in easily. 

Alexander, after many years in Consulting, why did you decide to found your own company? And why the health care sector?
Since studying at MBS I knew that I will found my own company eventually. However, I decided to gain some work experience first. There is no better way than consulting to learn as much as possible in the beginning of a business career. Among others I had the pleasure to work on several health care projects. This is why I decided to found Careloop and become an entrepreneur in the booming and changing health care sector.

What are the biggest challenges you are facing right now? Are the skills and knowledge you acquired at MBS important for you?
Our biggest challenges are finding the right talent for our unique business model, dealing with authorities and leading them on the way to digitalization and of course grow as fast and as sustainable as possible at the same time. I am responsible for sales and partnerships – my time at MBS helped with pitching my start-up and in dealing with different stakeholders of various cultures and backgrounds.

Do you have any tips or advice in general for current and prospective students?
General tips are always difficult. If I have to pick one, I would always advise and encourage students to identify their own talents in order to base their decisions on. DO NOT listen to what the mass is saying. Only if you are able to stand out you can achieve a true impact.

What is WorkGenius?
The job world is becoming more and more flexible. In the US, up to 40% of the workforce already consists of freelancers. Thus, different systems and approaches are needed in order to find just the right talents.

WorkGenius provides the infrastructure for companies who look for freelancers. Our technology facilitates fixed prices, reliable job handling and a consistently high-quality standard. It helps to assign available talents to specific tasks while the confidentiality of both parties is guaranteed at all times. Matching is done fully automatically thanks to behavior-based data. Job interviews aren’t needed any longer.

So far, more than 350,000 freelancers from all over the world have registered with us to obtain suitable tasks. We have offices in Hamburg and New York and over 70 employees.

You started your own business during your Bachelor studies at MBS and never worked as an employee. Can you tell us what Entrepreneurial Spirit means to you? And how did you benefit from your time at MBS?
I think one of the essential aspects of founding is that you try to improve something. We came across deficits and wanted to change these with our idea. Over the course of the last six years, I constantly discovered things I did not want to accept. If you are then supported by an enthusiastic team which tackles those challenges with drive, the entrepreneurial spirit is tangible at once.

I discovered a couple of years after graduating how useful my studies at MBS had been. As a founder, nearly every day new challenges from various fields are raining down on you. Your task is to deal with them. During exam time at MBS I always wondered why in the world one had to write 10 exams within 2 weeks. But the ability to work under pressure, prioritize right and thereby keep a clear mind is vital.

Do you have any advice for students who’d like to start their own company?
Just go ahead and do it. That sounds simple and it actually is after graduating. At this point in your life you usually have little obligations, e.g. no family yet, and therefore a relatively small risk. Should your first idea not work out, you’ll always find a job as an employee. What I learned while starting my own company I would never have learned in any other job. Even if I would have said after these two years “this is not working out, I will do something else” it would have been still been the best decision ever.

Another advice: Talk about your idea. In Germany we often worry that someone copies your idea, but I believe that this mindset only denies us a lot of valuable feedback.

When Christian Klemenz started his Bachelor International Business studies at MBS, he wasn’t really sure about the direction his career would take. “But during my studies it became obvious to me that I’m really into Entrepreneurship. I was fascinated by business plans, raising capital, being innovative etc.”

After obtaining his Bachelor degree, Christian had a brilliant idea during his graduate study abroad semester in India: “I realized that there wasn’t a dominating brand of dark ale in India. Thus, I had the idea to create St. ERHARD, an ale beer brand “made in Germany”. Already one year later the first bottles left the St. ERHARD plant in Franconia to be sent on their way to India.

Germany's first Beerpreneur
Today, St. ERHARD is one of the largest craft beer producers in Germany: “We are exporting our beer to various countries on four continents. Apart from India, by now St. ERHARD is also available in New Zealand, Japan, Hongkong and Mexico” states the proud “Beerpreneur” as Christian calls himself. Christian’s second venture is a success as well - and of course it has also something to do with beer: In 2014 he opened his first Bierothek - a “specialty store all about beer”. Beer lovers can find there not only Christian's own brand but also a vast selection of beers from all around the world.  With now more than 15 Bierotheks so far, he is the market leader in his segment in Germany.

“MBS provides the perfect environment to become an entrepreneur. My lecturers’ professional advice and the network from my student days formed the basis for my first business.”

What exactly is behind Angles90?
Angles90 is the first dynamic training grip worldwide. That means - for all non-gym visitors - it is an ergonomically shaped handle with a loop in the middle, which can be attached to any training device. This means that you no longer have to adapt to fixed and rigid training grips, such as those of a pull-up bar. This way, the training is not only more joint-gentle but also more efficient, as many different muscle stimuli are set.

You started your own business directly after your Master at MBS. Was that your goal right from the start of your studies? Or did this wish develop during your time at MBS?
Actually, it was already clear to me during my Bachelor that it would either go in the direction of consulting or entrepreneurship. In the last semester of my Master I had the idea with the training grips and then it was clear that the focus would be on founding a company. I also had several ideas before, but this one made me realize that this is the right idea at the right time. In addition, the relatively low complexity and initial capital intensity of the business model is manageable, i.e. optimal for a first venture. In this respect, I keep repeating: Learn to drive a car better with a Fiat 500 than with a big jeep. Not all Startups are the same!

Did you consciously decide on MBS as an "Entrepreneur University"?
Yes, definitely. I knew right away that I would choose the focus on Innovation and Entrepreneurship in the Master International Business. And that really helped me a lot in the follow-up.

This leads us straight to the next question: What ideas, skills, and also networks did you take away from MBS?
The lecturers at MBS and their input had a great impact on me. For example, Mark Zeh taught entrepreneurship at the time and Jack Nasher gave the lectures on the topic of negotiation. These two subjects were by far the most useful for the things I do today. In third place on my subject ranking list, I would choose "Business and Society". But "Business Communication" was also important for me: how to communicate in the business world and keep moral values in mind. That has already shaped me.

How does it feel to be an employer for almost 2 years? What are your experiences? What do you pay attention to when hiring new team members?
I have two tips here. First: "Hire slowly - fire fast". Sounds tough, but it's important. Think not only twice, but five times about who you want to work with (and especially co-found!). Second: Motivation is more important than intelligence and grades. If someone is super smart but not motivated, he won't get deep enough into the matter and then mistakes and inefficiencies will occur. Stress resistance is also a prerequisite. And for employees: If you are not one hundred percent convinced by a potential employer, you can ask whether your expectations match or not.