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Fraunhofer Venture
Newsletter
- Managing Director - Questions and Answers
- Spin-off Profile
- Current News
- Trainings and Workshops
Fraunhofer Fosters Management (FFM): A Real Opportunity for Fraunhofer Employees and External Managers
Dr. Peter Haug, Managing Director of Greasoline GmbH, a spin-off of Fraunhofer UMSICHT in Oberhausen, Germany, explains how he became Greasoline's Managing Director.
For years, scientists have been doing research on how to win fuel without the use of fossil fuels. Until now, the focus was on ecological raw materials that do not require extensive processing and are available in large quantities. Researchers of the BIOFUELS division of the Fraunhofer Institute for Environmental, Safety and Energy Technology UMSICHT developed a procedure providing for the production of high-quality biofuel from waste fats and oil residues. The advantages of this process: The raw materials used do not compete with food supplies in any respect and are available in large quantities and short-term – and all with reduced CO2 emissions. With the support of Fraunhofer Venture, the scientists founded Greasoline GmbH in August 2011 with the aim of marketing this patented technology.
Dr. Haug, would you please briefly explain Greasoline GmbH's innovation. Is the production of biofuels from waste fats a real alternative for the future?
Yes, sure. The production of biofuels from residues and renewable resources is a real alternative for the future. Existing biofuels such as bioethanol or biodiesel in contrast, are directly competing with the food industry. Additionally, our biofuel meets higher quality standards as it features the same material characteristics as fossil fuels. Another advantage is that we are able to offer our biofuel at the same price as conventional fuels – even without subsidization.
How did you get to know about this spin-off project?
The spin-off was mainly supported by the "founding angel" Gunter Festel, who had already given advice to the engineering team in Oberhausen over a period of three years and was of great help when developing the business plan. The idea of Greasoline GmbH was then implemented by Mr. Festel and myself as external managers and four internal Fraunhofer employees from engineering.
What are the advantages in your opinion of building up a start-up as an external managing director?
External managers often have a business management background, which perfectly complements the scientists' know-how. My natural science and business management background was of course also an advantage for the founding of Greasoline GmbH. The ultimate goal is to make the innovations ready for the market and to put the ideas forming at a university or research establishment into reality. This isn't always easy. Our team is a quite good combination of qualified experts with engineering and business skills so that we are able to bridge the gap between theory and practice.
What is your job at Greasoline like at present?
At present we are looking for investors for first round financing. Next, we want to further strengthen and intensify the business relations to the petroleum industry and find partners for future cooperation.
Who are the members of your team and which positions still need to be filled mid-term?
Our team includes four engineering founders, who actually work for Fraunhofer most of the time and are financed by joint projects. The aim is to finance Greasoline GmbH not only externally but to also bring in the technical Fraunhofer know-how. As regards positions that might become vacant in the future, further positions in the area of business development, raw material sourcing and in technical project management are planned to be created after successfully ensuring first round financing.
What was your professional background before you took on the position as Managing Director of Greasoline GmbH?
I studied natural and management sciences and after that worked for management consultancies for seven years, predominantly in the chemical industry. Before I took on responsibilities at Greasoline GmbH, I developed the area of pharmaceutical toll manufacturing as an investment manager in an industry holding for five years. However, it is nice to participate in the results of your work, which is possible here by means of company shares and was one reason why I accepted the Managing Director position at Greasoline GmbH.
How important was the support through FFM?
With the support of FFM, Greasoline GmbH was in the position to take up its operative business almost one year earlier than planned, even before first round financing had been ensured. The effort required for finding suitable investors in the present environment is very high. The FFM program helped a lot in that context. The contact to investors was supported by Fraunhofer employees and Fraunhofer Venture.
Establishing a new company is a great challenge. To what extent does Fraunhofer Venture support you?
The support of Fraunhofer Venture was particularly important for the agreements on founding the company. The legal advisor for negotiations with the Fraunhofer patent division as well as the support offered when searching for investors really helped the company a lot. The support is given in the form of advice and weekly talks with Matthias Keckl.
What are your corporate goals for 2012?
For the short term we have the aim to sign the license agreement with Fraunhofer, which we have been working on for nine months now. Furthermore, we want to ensure first round financing for the coming two to three years. And we are also looking for a suitable cooperation partner who will search for other suitable opportunities for our technology in industrial applications. This step will either be financed through financial aid programs or through the proceeds from the sale of Greasoline GmbH shares to the respective cooperation partner.
Dr. Haug, thank you very much for the interview.
Spin-off Profile
HiperScan GmbH
With an increasing standard of living, the awareness for the composition of products, foods or drugs also increases. Companies of the chemical, pharmaceutical, food or environmental industry are, thus, increasingly obliged to produce their products according to the highest standards and to consistently monitor the production process. This may only be achieved by means of modern and versatile methods such as near-infrared (NIR) spectroscopy and related automated processes. HiperScan GmbH, founded as a spin-off of the Fraunhofer Institute for Photonic Microsystems IPMS in Dresden, Germany, in May 2006, is a supplier of high-performance spectrometers.
Using near-infrared (NIR) analysis, the composition of substances (or blends) may be determined. This provides for the possibility to verify consistent quality or the purity of input and output substances. This enables new and cost-efficient analysis processes in food and process analyses, in quality assurance as well as for the identification of raw and auxiliary materials.
There are versatile fields of application for these analysis devices. With the launch of Apo-Ident for example, an easy and quick analysis system, HiperScan decisively contributed to ensuring the competitiveness of pharmacies. Apo-Ident is a near-infrared (NIR) spectrometer providing for easy and quick analysis of chemical compounds. An analysis cycle requires less than 2 minutes per substance. Apo-Ident is able to identify more than 90% of all output substances that are usually available in pharmacies – from powders and ointments to oils and European herbs. With its simple menu, everybody is able to perform identification and, thus, analyze inhomogeneous substances without any special training.
Current News
German Business Angels Day in Frankfurt on the Main on March 11-12
The German Business Angels Day was initiated in 2001 and is organized each year by BAND, Business Angels Netzwerke Deutschland e.V., as the central platform of the market for informal venture capital in Germany. Entering its 10th round, the German Business Angels Day will take place in Hesse for the first time and invites business angels and start-up entrepreneurs looking for venture capital to meet each other and cultivate their network. With Business Angels FrankfurtRheinMain e.V., the cooperation partner will also be present on site.
10 Years of trendforum – Business Symposium for Trend Research, Innovation Management & Trend Marketing in Berlin on March 21-22
trendforum turns 10! Clearly a reason to celebrate with you! With a new, interactive and diversified concept it will take place this year at ewerk in Berlin on March 21-22, 2012. trendforum is the platform for the best German trend and future researchers, innovation experts, and pioneers.
trendforum 2012 will take place in two different rooms this time. One room is reserved for the trendtalks in a classical plenum and the trendlabs. For the trendtalks, four top experts present the latest trends and their adaptation and implementation in innovations each day. The trendlabs are defined workshops organized by the partners. Together with the participants, they develop current solutions, methods, and processes for different areas of trend research and innovation management.
The second room houses the trendworld, which is all about trying, getting actively involved and experiencing innovative products, designs, materials, and ideas. Open workshops and discussions with highly qualified partners pass on cutting-edge knowledge and numerous suggestions to the participants. The trendex(hibits) complete the program.
Ecosummit 2012 ECO12 in Berlin on March 22-23
The Ecosummit Conference 2012 for investors, start-ups and cleantech enterprises and utilities will take place in Berlin on March 22-23 this year. The conference's highlight is the presentation of the ECO12 Award on March 22. An expert jury assembled of 45 executives of representative start-ups, VC companies, utilities, and specialized press will assess the applications received by March 01 based on product innovation, business potential, and environmental benefits. In addition to two Fraunhofer experts, also further cleantech experts have been invited.
Trainings and Workshops
Professional Business Plan Development: Compact and True-to-life in Nuremberg on February 14
Whether as a basis for founding a company, for negotiating with investors and banks, or as a detailed preparation for expanding business – the business plan is an indispensable and important instrument for strategic corporate planning.
The course "Professional Business Plan Development: Compact and True-to-life in Nuremberg on February 14" will address all components of a business plan from the business idea to financial planning – with real-life examples and in a compact manner.
Participation for founders and BPWN 2012 participants is free of charge. For all others, the fee amounts to 95 Euro excl. VAT per person
Venture Lounge "Hightech, Cleantech & Software" in Bonn on February 15
Under the motto "Hightech, Cleantech & Software" the Venture Lounge will take place in Bonn. On February 15, enterprises will present their exciting ideas. The Venture Lounge builds a bridge between young founders and venture capitalists who are keen on new ideas and want to give an impetus with their venture capital.
Selected investors, entrepreneurs, and consultants are invited to participate in the Venture Lounge. In the scope of this event, eight selected enterprises will have the opportunity to present their business case to investors on site. An eight-minute presentation is followed by a short Q&A session. Following the presentations, the participants may discuss their case with individual investors in a relaxed atmosphere. Of course, participation is also possible without a presentation. Expert presentations and a field report of a successful enterprise complete the program.
The entrepreneurs receive qualified feedback and the opportunity to convince the investors of subjecting their business case to further reaching assessment. In addition, the enterprise that presented its business case most convincingly will be determined and awarded in the scope of a small ceremony.
Participation is also possible without a presentation.
Protecting Ideas – With Marks, Models, and Patents in Nuremberg on March 01
Even before the actual start-up of a company, the question arises: Do I have to and is it useful for me to apply for a patent? From the application for patent to a registered design there are possibilities for protecting ideas and innovations and for securing sales by means of trademarks. Our experts will explain in detail and true-to-life how you have to proceed and what you need to consider when doing your research.
Among others, the following issues will be discussed:
- Patents, utility patents, design patents – Which property right is which?
- Register or keep secret – When does protection make sense?
- National and international protection of trademarks – Luxury or necessity?
The fee amounts to 95 Euro excl. VAT; BPWN 2012 participants and F.U.N. e.V. members receive a discount of 30 Euro. Registration deadline is February 02, 2012.
German.Venture.Day in Duisburg on March 08
This year, the "German.Venture.Day 2012" will take place in Duisburg on March 08 under the motto "High-tech innovations and their financing: a mere question of nerves..." A typical technology start-up requires perseverance and, thus, a lot of capital until the road has been taken from development into the market. In most cases, more time is required for the business model to really prove itself than originally planned – and this often puts entrepreneurs and investors to an extreme test. On the other hand it is not unusual that exactly this type of innovations decisively contributes to e. g. improving our health care system, solving our energy demands, or protecting our environment, thus, offering attractive opportunities for a return on investment for patient investors.
Therefore, the German.Venture.Day 2012 will present a cross-section of start-up as well as mature technology enterprises delivering exciting stories of strange innovations, of never-ending sales cycles, of repeated last financing rounds, of hope that springs eternal – but of course also of courageous entrepreneurs and persistent investors whose determination and tenacity sometimes also led to great success.
Not only is the German.Venture.Day 2012 guaranteed to provide useful tips, insights, and valuable contacts but also a good deal of entertainment with vivid field reports and pitches as well as the ceremony during which outstanding "great moments" of entrepreneurs and investors will be awarded the German.Venture.Award 2012.
7th Technology Day in Munich on March 28
The Technology Day is the leading conference in Germany about 'Financing of Innovations and Enterprises'. The Technology Day is a fixed institution – the German contact and network platform for entrepreneurs, investors, scientists, experts, and everybody else interested in technology.
Extraordinary national and international personalities of industry and science share their experiences, views, and knowledge with the participants. Innovative start-ups looking for capital or cooperation also have the opportunity to pitch.
Key topics 2012:
- Financial crisis, debt crisis, Euro crisis – What are the influences on the financing of innovations and enterprises?
- Shorter product cycles, convergent technologies, fiercer competition – Which models of cooperation lead to success of a 'collaborative innovation'? Investment? Incubation? Development cooperation?
- Current news about strategic investments and company transactions.
- Current views on and prospects of mezzanine financing, corporate venture and venture capital.
The fee for non-members is 370.00 Euro excl. 7.00% VAT. Munich Network members will be charged 270.00 Euro excl. 7.00% VAT.
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