Category: Allgemein

FULFIN – SUCCESSFUL WITH E-COMMERCE KNOW-HOW AT WERK1

One click at Amazon and our desired product will be one day later on the doorstep. Convenient, fast and easy. The online trade and especially Amazon is booming, especially thanks to the marketplace concept. The marketplace also creates new opportunities for sellers. But many new traders encounter growth hurdles that cannot be overcome with equity capital. Fulfin is breaking new ground in the supply of credit to online traders. From their newly thought-out goods financing for online merchants
Hevella and Lakeside have invested a 7-digit amount of equity and debt capital in the start-up.

LACK OF CREDIT SUPPLY IN ONLINE Business

The e-commerce market is growing by more than 12% every year. Amazon dominates this market with 60% – tendency rising. Amazon’s marketplace offers new opportunities for young entrepreneurs to easily market their products. The path from the production of the product to storage, delivery and finally sale via Amazon is, however, very lengthy and involves considerable liquidity requirements. Conventional financial service providers and banks encounter problems here with their offers because they cannot adequately assess the risks and collateral available. This makes it difficult for online sellers to obtain a suitable loan.

INDIVIDUAL LOANS FOR E-COMMERCE MERCHANTS

Fredi Gruber and Nathan Evans from fulfin solve this problem with expert know-how from e-commerce and finance. Using digital interfaces, fulfin gets an exact picture of the seller, the product and the logistics route and can thus align the loan individually, precisely and efficiently. By dovetailing the financing with the logistics project, the existing inventory can be used as collateral and often even the costs of “fulfilments” can be reduced. This gives ambitious online merchants the opportunity to expand on the Amazon marketplace or at their own online shop with an individual loan.

Together, Fredi and Nathan have over 40 years of experience in financial management and e-commerce. In late 2017, Nathan returned from Silicon Valley and brought the right momentum to WERK1 Coworking. At the beginning of 2018, the two of them founded fulfin, after having long had the desire to build their own company.

WERK1 HAS AUTHENTICITY LIKE NO OTHER PLACE IN MUNICH

After one and a half years, the founding team feels so comfortable at WERK1 and the Munich East hub that they would like to stay for many more years. No place in Munich is as authentic as WERK1 tells us Nathan, and that is why they would have organized their “Seller Barcamp” with over 120 Amazon dealers and experts in WERK1. At a barcamp there are no speakers, but all participants put together a common program. The event was so well received that it was named one of the best events in the industry in Germany.

With the investors behind them, they will not only extend the idea of the Seller Barcamp to other German cities, but will also expand it as a team and successfully enter the future together.

Startup: fulfin
Kontakt: info@fulfin.io
Webseite: fulfin.io

SUMMERPARTY 2019 – WILD WILD WERK1 – FROM FACE PAINTING TO FLAMETHROWERS

Two big celebrations have now firmly established themselves in the WERK1 calendar: The Christmas party at the end of the year is always a chance to pause for a moment, to review the year and to celebrate what we have achieved together. On the other hand, the summer party is rather the gathering of the entire community: We get to know each other better, friends, family, alumni, mentors and many others from the WERK1 environment come together and we start the second half of the year. On Thursday, July 11th, the time had come again. Under the motto WILD WILD WERK1, we invited almost 200 visitors from WERK1 to start a big summer party.

START FOR FUTURE STARTUP-FOUNDERS WITH CHILD MAKE-UP – THEN IT BECAME “WILD”.

The youngest start at 16 o’clock. Thanks to the great help of our WERK1-Startup Artmasters, the children and later the adults were dressed up for the rest of the evening. Short time later, in the early evening all cowboys and -girls could prove themselves at Bull Riding – the winner got a ride for two in the Ferris wheel High Sky here at the factory quarter with more than one minute later in the evening. At exactly 6 p.m. Sheriff & Managing Director Florian Mann entered the bar: After a few words of welcome the catering was opened and all guests were prepared for the rest of the evening with burgers, hot dogs or baked potatoes. At 9 p.m. the DJ rang in the loud part of the evening in the WERK1 Café and kept the mood going until the end.

A STAGE FOR REVELLERS

Business development in a different way: Vanessa on the road as a fire devil

Startup’ler can not only work late into the night, also with the celebration some do not go one minute too early home. So it became a long night together with the WERK1 team and many guests from the community and together we start now into the second half of the year, in which surely still many further success stories wait for us all.

LATER IN THE EVENING IT GOT “HOT”.

In the meantime, there was a touch of Silicon Valley at the event: a flamethrower from “The Boring Company”, founded by Elon Musk, found his way to the guests thanks to our residents from Curiosity.ai and provided spectacular pictures – not a trace of “boring”.

W1>> ACCELERATOR #4 AT WERK1 – UNLEASHING INNOVATION POTENTIAL IN THE INSURANCE INDUSTRY

The keyword “Accelerator” is usually associated with an idea about financial support and revision of business models. The W1 Forward Accelerator Programme, initiated by the InsurTech Hub Munich at WERK1, shows that a programm to promote innovative start-ups can work in a different way. In the eight-week, early-stage programm, the creators focus primarily on well-founded, targeted advice on start-ups and intensive use of the industry network.

THE INSURTECH HUB – A POOL OF POSSIBILITIES FOR STARTUPS & INSURERS

“The InsurTech Hub is a platform that brings the different players in the industry together,” explains Ben Shaw, Director Program & Strategy. Fourteen large insurers, large corporations, business and strategy consultants and universities such as the LMU or the Bundeswehrhochschule are part of the network. “The idea is that all these institutions have an interest in driving innovation together in the insurance context. And one part of driving this innovation forward is the Accelerator Program, which brings the various insurance companies into direct contact with small, innovative projects and start-ups.

PROGRAM USP & BENEFITS FOR THE STARTUPS

We want to know from Ben which startups the program is aimed at, as we meet him for the interview on the program running since mid-May in the WERK1 Café. In some cases the business idea is there, it hasn’t been founded yet – just early. “What’s important is that we not only select the start-ups according to the idea, but also according to whether we have the feeling that they can put it into practice. The selection event resulted in ten young companies. Only two of them have already received funding. “Over a period of eight weeks we will give them all the resources they need to build up and expand their business – i.e. consulting in business modelling, financial modelling, marketing & sales, etc.”, says Ben about the USP of the Accelerator programm. “And we bring them into contact with 14 major insurance companies, which give them direct enterprise feedback or rather insurance-relevant feedback. This is extremely valuable and priceless.”

PROGRAM FINALE: DEMO DAY

At the end of the eight weeks – this is the aim of the efforts to meet the big players from the insurance industry on a regular basis – the young companies will have pilot projects in the pipeline resulting from the program and the contacts made. For the finale, the Demo Day with around 400 guests, modelled on the American one, is waiting for everyone. “This event gives the startups the opportunity to present themselves to potential investors and tell their story. Why can my startup change the industry? They have four minutes for that.”

BUSINESS IDEAS THAT INSURERS & INSURED BENEFIT FROM

And the young companies want to change a lot! Seven B2B start-ups are involved. Among them, for example, is a company that develops software to support rehabilitation after illnesses and injuries. “This is interesting for private health insurers who want to make sure that the costs do not increase immeasurably due to incorrectly implemented physiotherapy,” explains Ben Shaw. “In addition, such an offer is also in the interest of the insured, because there is direct feedback as to whether the exercises were carried out correctly. Another example is a smoking cessation app developed by a team of experts with years of experience in the health sector. Three B2C start-ups are also taking part in the programme. “Our most international team comes from Thailand and deals with on-demand insurance. This keeps costs much lower and makes processing extremely easy and customer-friendly,” reports Ben. Other teams come from Austria, San Francisco or Barcelona.

INNOVATION POTENTIAL IN THE INSURANCE MARKET

The innovation potential in the insurance industry is huge, and the demand for young, rethinking companies is high, Ben explains the background to the Accelerator Program. “About two years ago, insurers had the aha moment. That’s when the industry became aware that we simply weren’t so technologically advanced in the financial services sector. And that so much more could be done with digital banks. Information about individuals who reflect their personal risk is now much easier to implement through data mining and data science,” Ben explains. Thanks to fast and precise data processing, insurance companies are now in an extremely good position to digitize themselves. And this is exactly where the Insurtech Hub with the Accelerator program comes in. Ben: “This digitization is incredibly difficult and the big insurers solve it through partnerships with external experts, our start-ups.

TIP FROM THE INDUSTRY EXPERT

Who really makes it in the end? According to Ben, that doesn’t just depend on whether you participate in the program. But above all whether the founders can implement the varied feedback they receive during the eight weeks. “A successful founder is always a Hustler, someone who constantly pushes his business forward. Even if the core idea changes – and it always does anyway – it is important to stay on it, with willpower and flexibility. Then you reach your goal.” And that certainly doesn’t just apply to the insurance industry.

Hubert Aiwanger, Bavarian Minister of Economic Affairs with Startup Teens at WERK1

On 9 May 2019, WERK1 hosted the startup teens. More than 100 teenagers followed an exciting talk with startup entrepreneurs from TheSimpleClub and Inveox, our WERK1 managing director Dr. Florian Mann and this year’s guest of honour, farmer and Bavarian Minister of Economic Affairs Hubert Aiwanger.

Startup-Coaching for Teens

Our managing director Dr. Florian Mann opened the event: “He is always looking forward to welcoming the startup teens to WERK1 and to supporting young people in making the dream of their own startup come true. When it came to the question of who wanted to start a company in the future, the fingers leapt up – the best prerequisite for a great evening!

Rubin Lind, winner of the Startup Teens Challenge and founder of “Skills4School”, led the evening. In a panel discussion, the entrepreneurs introduced themselves and talked about how to master the path from the idea to the foundation. The most important thing is to stand behind the ideas and always stay on the ball, even when it comes downhill, motivated the experts. If you have the wish to achieve something, nothing stands in the way of implementing the idea. The entrepreneurs also gave the young people the idea to inform themselves on the Internet and to build up a reach and community via the social media and to perceive events such as the Startup-Coaching programs and events of Startup Teens.

“Startup initiatives are our future”

Hubert Aiwanger appealed to the pupils to take more risks and to realise themselves. He spoke of today’s “affluent society” where it is important to keep the founder thinking on going. The Free State of Bavaria stands behind start-ups and young entrepreneurs. The Bavarian Minister of Economic Affairs referred to the 7 new digital business incubators, which provide young entrepreneurs with support for their own start-up projects. He assured “We want to tackle” and thus encouraged the young people to realize their ideas.

Afterwards, the young people were allowed to ask questions to the Bavarian Minister of Economic Affairs and the start-up entrepreneurs themselves. In addition to the general entrepreneurial context, questions about the current school system also arose. The pupils would like to learn more about founding and the employer side at school and not only to be taught the employee side. Mr. Aiwanger confirmed the pupils’ point of view and was open to suggestions as to how these contents could be better communicated in the future.


The future young entrepreneurs had their goal of their own startup clearly in mind and turned to the startup experts on stage. How long does it take to set up a startup? And how do I build a network? These and many other questions were answered in detail until the end of the event.

Afterwards, the students had time over drinks and snacks to talk personally to their entrepreneurial role models as well as to network with each other. We are delighted that WERK1 was once again able to host this great event!