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Fraunhofer Venture
Newsletter
- Spin-off Questions and Answers
- Spin-off Profile
- News
- Trainings and Workshops
Interview with Reiner Dietsch, AXO DRESDEN GmbH
Financing and Growth - A Report by the Spin-off AXO Dresden
AXO DRESDEN GmbH was founded in 2002 as a spin-off of the Fraunhofer Institute for Material and Beam Technology in Dresden. More than 20 years of experience in high-precision deposition as well as in X-ray optics, ensure effective and customized solutions for various customers. With the support of Fraunhofer Venture, the young enterprise was able to establish itself on the global market over the past years.
Reiner Dietsch, managing director of AXO Dresden GmbH, talks about the company's development since its foundation.
How did you develop the idea to start up an enterprise?
The idea evolved based on our own development activities. In 1988, we had started the development of multi-layer X-ray optics and after reunification and with the transition into the Fraunhofer-Gesellschaft, we were able to continue our work in this area. In 1997 we were awarded the Fraunhofer prize for the development of a technology for producing beam-forming X-ray optics based on gradient layers. For this purpose, it was necessary to adapt high-precision depositioning to the requirements of X-ray optics and to establish pilot production. Due to a growing acceptance of this technology and its products on the market, together with Fraunhofer Venture we decided to start up an enterprise, which we did in 2002.
How did you acquire your first financial means and how did you use the money?
In the start-up phase, we used our own means to finance the company. The capital was of course primarily used to purchase equipment to get production started. Furthermore, in 2003 we already started to make first investments.
Was there a second financing round?
Of course we had to make larger-scale investments; by the end of 2004 for example we had invested approx. 1 million euro predominantly in new system technology. Obviously, we couldn't pay that out of the petty cash. Our bank and public programs finally ensured financing of this investment.
What is decisive at the growth stage?
For us it was decisive to establish a broad customer base at the growth stage. This requires innovative products that sell on the market.
We had to start up a sales team and at the same time the portfolio had to be extended permanently. These measures helped us turn into the international company we are today.
What needs to be considered for financing?
The company's liquidity is always a priority. That might sound like a commonplace, but it is an important aspect. We tried to keep our costs at a minimum and always had an eye on the balance key figures. As has been proved, companies with higher equity capital rates usually are granted lower interest rates by the banks.
How do you manage the cooperation with your international subsidiaries and how important are these cooperations for the growth process of your company?
Our international subsidiaries are partners in other countries who sell our products in the respective region. Our main products, multilayer X-ray optics and systems based on these products as well as the functional depositions are special niche products. So the market we serve is rather small. But it also means that we cannot concentrate on only one region. Our focus is the global market and therefore we are looking for suitable sales partners worldwide. At trade fairs, science events and through presentations we get to know new business contacts and increase the awareness of our company. By now, we have representations in the USA, Canada, Japan, Australia, China and India. As we do not sell standard products, the engineering consulting on site is of decisive importance for most of our unique system solutions. Production and development, however, still remain our part.
How did Fraunhofer Venture support you?
The Fraunhofer-Gesellschaft still is a minority shareholder. In particular at the start-up stage, Fraunhofer Venture supported us with all sorts of organizational issues. We were able to benefit a lot from the experiences Fraunhofer Venture made with other spin-offs when it came to developing the articles or a cooperation contract. The conditions for our company in the start-up phase were very fair. For example, we could have returned to our old job within the first 18 months at any time.
Mr. Dietsch, thank you very much for the interview!
Spin-off Profile
SURAGUS GmbH
"Being able to examine products by non-destructive testing is a must for many enterprises today when it comes to lasting quality assurance of their products. The innovation of SURAGUS GmbH consists in a high spatial resolution, a very broad frequency range, and comprehensive analysis options as well as in a comfortable use of the analysis software", explains Dipl.-Ing. Marcus Klein, founder of the company, the advantages of the SURAGUS GmbH products for the user. Seen from an economic perspective, this non-destructive and non-contact technology paves the way for a more efficient and thus more cost effective configuring of systems as well as for an increased quality and reliability.
The eddy current procedure utilizes local differences in conductivity of the test object for characterizing correlating quality properties such as layer thickness, conductivity, physical changes, or homogeneity or purity. The complex eddy current signal contains four different pieces of information about the test object, which may be separated in many cases using simple or complex algorithms. The eddy current test technology of SURAGUS GmbH is based on powerful electronics with a wide frequency range from 10 kHz to 100 MHz.
The EddyCus® product series of the company is suitable for layer characterizations starting at a layer thickness of five nanometers. That way, the universal eddy current test site EddyCus® MPECS (Multi Parameter Eddy Current Scanner) was developed to quickly and easily create high-resolution conductivity maps of structured and unstructured layers and layer systems.
"This versatile procedure is suitable for quality evaluation in many different industries and research establishments, as altered quality characteristics often result in a change of local conductivity, which is easy and quick to map with the EddyCus® MPECS."
The demand for non-destructive and non-contact test technology continuously increases. "We are able to monitor a particular increasing demand from the renewable energies industry. Here, the products' efficiency and quality has to increase continuously. And this is exactly where our products come in, because we are able to test and map in particular the electric characteristics with a high resolution.", says Mr. Klein.
The three founders Dipl.-Ing. Marcus Klein, Dr.-Ing habil. Thomas Herzog and Dr. Henning Heuer used to work for the sensor systems division of Fraunhofer IZFP in Dresden. With SURAGUS GmbH founded in 2010, the team of founders wants to take the chances the market has to offer and solve in particular test tasks relating to renewable energies and energy-efficient systems.
News
Fraunhofer Networkshop in Berlin from May 11-13, 2011
"Exchanging experiences, meeting interesting people and hearing experts" is the motto of the 8th Fraunhofer Venture Networkshop in Berlin. The aim is to bring together people with founding ambitions as well as experience for an informal exchange of experiences. In addition, the event will also cover different special fields.
One of the special treats this year is the presentation of the best ideas submitted to the Fraunhofer World of Ideas competition. Titled "Fraunhofer Venture is looking for inspiration", the competition encouraged Fraunhofer employees to turn in their exciting, creative, and extraordinary ideas to Fraunhofer Venture by March 31, 2011. The aim was to gather ideas for innovations, company foundations, products, or services throughout the Fraunhofer world.
The ten best ideas will now be presented to a jury on May 12. Attractive prizes will be awarded to the top three ideas. The winner team can even look forward to a trip to the USA.
Contact
Info Event "Self-employed into the Future - Venture with Research" in Stuttgart on May 17, 2011
Founding your own enterprise is an attractive option for realizing research ideas. The free info event at the University of Stuttgart in cooperation with the Technologie Transfer Initiative (TTI), Fraunhofer Venture and the Max-Planck Innovation GmbH shows different possibilities where to get support for science-based start-ups.
The event addresses scientific assistants and alumni, university and research establishment members interested in founding an enterprise as well as founders and start-up entrepreneurs who want to use the presentations and discussions offered throughout this event to learn about examples of successful technology transfer and appropriate possibilities where to get support.
Presenters include among others Matthias Keckl of Fraunhofer Venture Munich as well as Dr. Florian Kirschenhofer, start-up manager of the Max-Planck-Innovation GmbH in Munich.
Registration deadline is May 09, 2011.
bwcon: High-Tech Gründerfonds Consultation in Stuttgart on May 17, 2011
In cooperation with Fraunhofer Venture, the Max-Planck-Innovation GmbH and the Technologie Transfer Initiative GmbH (TTI), the bwcon offers High-Tech Gründerfonds consultations in combination with the info event "Self-employed into the Future - Venture with Research" at the University of Stuttgart. Investment managers of High-Tech Gründerfonds (HTGF) will be at the disposal of founders and project teams of research establishments and universities for personal consultations.
The aim is to assess business models and start-up projects and to check their suitability for financing by High-Tech Gründerfonds. Target groups include start-up teams looking for seed financing as well as start-up and research teams in the pre-start-up stage. High-Tech Gründerfonds has by now developed into an important financing alternative for innovative start-up projects in the seed phase. It provides seed capital to growth-ambitious high-tech start-ups in the seed phase thus ensuring the start-up's financial means until it is ready for financing through other investors.
Registration deadline is May 03, 2011.
High-Tech Gründerfond Fund-Raising Campaign for Japan
The catastrophe in Japan gives reason to High-Tech Gründerfonds, its partners and the German start-up landscape to raise funds for the earthquake, tsunami and nuclear victims in Japan.
The initiative cooperates with Aktion Deutschland Hilft e. V., an association coordinating the support for Japan for numerous renowned aid organizations.
If you want to support the initiative, either make a direct donation or establish your own website for donations.
bwcon: Business Angel Matching "First-class Ideas Find Investors" in Karlsruhe on July 7, 2011
In particular when it comes to new, innovative business ideas with a high-tech background, banks often dread the risk of an investment. Here, Business Angels take action. These are private investors who support your enterprise with venture capital, know-how, and the right contacts.
The Business Angels acquire shares and through their investment strengthen the enterprise's equity capital base. The CyberForum is the chance for start-up enterprises to present themselves to Business Angels with a focus on Software/IT/Web/Mobile at one of the regular matching events. Selected enterprises introduce themselves and explain how they want to invest the required capital.
After the presentation, they have the opportunity to discuss their ideas with interested Business Angels.
vfn Investment Forum at Kriwan in Forchtenberg on July 20, 2011
Private or medium-sized investors who want to get to know innovative, technology-oriented entrepreneurs looking for venture capital are welcome to join the vfn investment forum.
Four to six interesting technology-oriented start-up companies looking for venture capital will have ten minutes each to present their ideas and/or company that day.
Registration deadline for founders is June 24, 2011, for investors July 13, 2011.
Trainings and Workshops
Netzwerk Nordbayern: Compact Training "Professional Business Plan Development" in Nuremberg on May 17, 2011
The business plan has turned into a necessary and unavoidable instrument for strategic corporate planning. Be it as a base for negotiating with investors, a base for founding an enterprise or as a detailed preparation for an expansion.
The training will address all components of a business plan from the business idea to financial planning - with real-life examples and in a compact manner. The trainer Alexander Becker is project manager and responsible for the organization and realization of the business plan competition Northern Bavaria and supports founders with optimizing their business plans.
Additionally, in the scope of technology scouting projects, he supports founders at universities with evaluating their business ideas and their successful spin-off.
munich network: "WakeUp! 'eCommerce - Do's and Dont's" in Munich on May 19, 2011
The topic "e-business - Growth for Your Business" will be presented by Josef Willkommer, graduate in business administration and managing director of the Rosenheim online agency TechDivision, with possible strategies, requirements, and implementation scenarios on the growth market of e-commerce.
Not only has e-commerce become a significant driver for trade, but also for manufacturers and service providers. Today, an attractive online shop and a clever e-commerce strategy are among the must haves. For everybody interested in e-commerce, the event represents an efficient possibility to acquire sound and practical basic knowledge.
WakeUp! is a network event of Munich Network. Each "WakeUp!" is dedicated to a specific topic. An expert will share his knowledge and personal experience with the participants in a 20 minutes presentation. All participants will introduce themselves and will also have the possibility to exchange their own experiences, ideas and perspectives with respect to the topic of the day.
1st mobile@all® in Munich on May 24, 2011
The conference will show new chances and possibilities for developing technologies, enhancing or achieving competences, creating partnerships, shaping new business models and leading them to success with an entrepreneurial spirit. It addresses entrepreneurs as well as scientists and developers interested in the market and investors.
Mobile communication and the connected changes to our communication behavior are in the focus of scientists and entrepreneurs of different lines of industry speaking at the event. Due to the possibilities offered by powerful mobile data communication and a high bandwidth in almost any area, a structural change emerges due to possible applications in many areas of life and industries, e. g. work, leisure, traffic and logistics, energy supply, buildings and infrastructure: mobile communication technologies and services change behaviors and satisfy new needs.
Furthermore, up to ten ambitious start-ups looking for capital or cooperation will have the opportunity to briefly present themselves in the start-up area. 3 of these 10 competitors will have the possibility to introduce themselves.
bwcon: "Cloud Computing - New Chances for Small and Medium-sized Enterprises?" in Stuttgart on July 7, 2011
Effective IT implementation is one of the central criteria for the economic success of small and medium-sized enterprises. In this context, the trend of cloud computing is of increasing relevance: infrastructure and software may be ordered and paid for as a "service" as required. But does this model really ensure more flexibility and efficiency for day-to-day business?
The event will discuss practical use cases and possibilities of cloud computing that are to help increase the dynamics of small and medium-sized enterprises. The prerequisites for a migration to the "cloud" are in the focus as well as possible cost advantages, innovative business operations or service level agreements. Controversial issues such as security and legal aspects of cloud computing will also not be spared.
Registration deadline is July 1, 2011.
5th Munich Cleantech Conference in Munich on July 14, 2011
The 5th Munich Cleantech Conference will address topics relating to innovation vs. price leadership and discuss innovations, business areas, and opportunities in the "Cleantech & IT" industry. The conference addresses cleantech enterprises, investors, scientists, and everybody else interested in cleantech.
Participants and presenters have the opportunity to inform themselves about current developments of the markets and technologies and exchange experiences. In addition, everybody interested may inform himself about ideas and perspectives for possibilities of new services and business models as well as new cooperations. The conference serves as a contact platform for entrepreneurs, industry representatives, start-ups, investors, and scientists as well as everybody interested in the topic.
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