Munich Startup: What motivated you to found the company?
Friderike Bruchmann: The impetus for founding the company was a personal experience with side effects after taking a medication. After intensive internet research, I realized that the information available often made people feel more insecure than helpful. This motivated me to create a platform that gives patients access to reliable information, enables them to exchange information confidentially with other patients and provides the opportunity to give feedback.
Indispensable: Resilience and a clear focus on the “business model-market fit”
Munich Startup: What do you wish you had known before you founded your first company?
Friderike Bruchmann: I would have liked to know how crucial market maturity is for a successful financing round with VCs. It’s a long way until an idea becomes a market-ready and scalable product that convinces customers and investors. Resilience and a clear focus on the “business model-market fit” are essential here.
Munich Startup: How has your company been financed so far?
Friderike Bruchmann: We are financed by various business angels, family offices and VCs. 80 percent of them are from the healthcare sector, the others are from the software sector. Among them: Grazia Equity, Bayern Kapital and Isartal Ventures.
Munich Startup: When and where do you get the best ideas?
Friderike Bruchmann: It sounds very clichéd, but I actually get the best ideas in the shower. Also on business trips, for example on a plane. They offer a break from the daily routine at my desk and let my mind wander. The distance helps you to see the big picture.
Munich Startup: What are your 3 favorite work tools?
Friderike Bruchmann: The “Reminders” app on my cell phone is definitely at the top of the list. There are so many things, big and small, that you would otherwise lose track of. I also use the “Notes” app for the obvious – I write down all my thoughts here. That way I don’t forget anything and keep a clear head at the same time. Tool number 3 would be the same in analog: Pen and paper. Because taking notes by hand is good and liberating from time to time.
“The golden times between 2018 and 2021 are over”
Munich Startup: Your top tip for pitching?
Friderike Bruchmann: I always memorized the first four sentences, because once you get started, it usually goes on more smoothly. Learning everything by heart is of course counterproductive, as it’s simply not authentic. For the rest of the pitch: practise a lot. This gives you routine and self-confidence.
Munich Startup: Does it seem like a good time to start a company right now? Why?
Friderike Bruchmann: To be honest, not so much. The golden times between 2018 and 2021 are over. We are living in difficult economic and geopolitical times, there is less access to capital and confidence in startups has fallen for various reasons. In addition, there are the well-known reasons such as Trump’s election and the end of the traffic light coalition in Germany and, on the other hand, the failure of large startups such as Babylon, Gorillas and Lilium.
That doesn’t mean that I would advise against starting a business. If someone has a great idea and wants to put it into practice, or wants to start a business in general, they should of course do it anyway. But everyone has to make a conscious decision for themselves about how much they can spare for this, both financially and privately, and how challenging and exhausting the path is.
Positive impact in the health or education sector very high
Munich Startup: Which technology or industry would you focus on for your next startup?
Friderike Bruchmann: I would always go back to the health or education sector because the positive impact is very high here. I would also focus on the use and application of AI and the metaverse. The latter has lost some of its “hype”, but I am convinced that there will be an upswing here again.
Munich Startup: What do you think could be improved in Munich as a startup location?
Friderike Bruchmann: The offer in Munich is already very good. TUM in particular is doing a lot to make Munich a strong location for startups – it’s not the number one startup university in Germany for nothing. But many parties have contributed to a great startup ecosystem here in recent years.
Munich Startup: Which founder would you like to meet in person? And what would you ask him or her?
Friderike Bruchmann: I would love to meet Mark Zuckerberg. He is one of the most important tech founders ever. I would ask him about his vision for Meta and the Metaverse.
