The TEP Times | Fall 2014 11
The TEP Times | Fall 2014 11
# TEP2014
An Interview with an Entrepreneurial Transplant
Trusted support in the US : “ Our intention is a long-term relationship ”
Simon Lorenz and Simon Bolz co-founded Klara , an app that allows you to upload images of skin problems and receive consulting from a dermatologist .
Simon Lorenz is the co-founder of Klara ( formerly Goderma ), a digital health startup that began in Berlin . Lorenz moved to New York City in July .
Why are you in New York ? We were working on an iPhone app that lets you consult a board-certified dermatologist online by taking a picture of your skin problem and answering a medical questionnaire . I am in New York because our app has received tremendous interest from US customers . When we marketed it in the US , we became # 3 in the Apple App Store for medical apps in less than 2 weeks .
Where does Klara stand now ? Since our test a couple of months ago , we incorporated in the US , enhanced our product so that it is ready for the US market , and solved potential issues of medical malpractice . We scaled up our dermatologist team from 2 dermatologists to 11 . We also increased our product team in Germany , and our German business is growing in parallel with our US business . We launched our product in the beginning of July and since then have paying customers every day .
What advice would you give other companies ? If the US market is right for you , there are three important things to know :
One of the company founders needs to be here . It ’ s not enough to have a local team or a local manager .
Leverage the fact that Germans stand for quality . That is a clear advantage in the competitive market here .
Find strong and trusted local partners or partners that have local networks in the US . For instance , working with Deutsche Bank enabled us to start business here almost immediately .
What is next on your agenda ? We are laser-focused on showing that we have gained traction with patients , doctors , partners , and geographic reach in the US . The rest will follow .
Deutsche Bank AG helps startups to find a lifelong home , and it ’ s launched a special initiative to make startups feel welcome . While the bank certainly does a lot of business with much bigger corporations , it also has a specialized team to ensure great service for startups throughout the businesses ’ life cycle , says Antje Uhlig , Team Head of Startups @ Berlin at Deutsche Bank AG .
“ Our intention is to build a long-term mutual relationship ,” says Uhlig . “ This begins with the very first meeting , where bankers learn about the client ’ s business model , and may end when the founders sell their company or the company has its IPO .”
The goal is to provide a onestop shop for entrepreneurs to begin the financial aspects of their business , and then to help startups expand internationally .
To make that happen , Deutsche Bank has created a team called Startups @ Berlin . This branch of the multinational bank is staffed with people with many different skillsets and work backgrounds who have been working with entrepreneurs for over 5 years . The goal is to provide a one-stop shop for entrepreneurs to begin the financial aspects of their business , and then to help startups expand internationally .
The team starts working with startup founders on the very basics of business cash management : an operating account and a credit card . And as a business grows , Deutsche Bank is equipped to help it take the next steps , including
Antje Uhlig , Team Head of Startups @ Berlin at Deutsche Bank AG .
doing what is needed to help a business branch out internationally . The startup team at the bank is well versed in regulations and requirements in many different countries , easing transitions as companies grow and expand to other countries .
“ If our clients are making the leap into an attractive and growing market somewhere in the world , the chances are high that Deutsche Bank is already there ,” Uhlig says . “ Our global presence is a major benefit to these clients when it comes to cash management account structures , cross-border payments , currencies and accounts abroad .”
Currently , the bank is focusing on connecting with fast-growing internet startups in Berlin , which are international right from the beginning . Deutsche Bank ’ s startup team believes Berlin is a great place to set up such a collaboration , as there is so much going right in the city to foster and support startups .
“ Berlin offers superb infrastructure , including universities and other scientific institutions ; it attracts many young and qualified people , and even rental costs are still significantly lower than in any other major European city ,” Uhlig says .
Transatlantic Entrepreneur Partnership : An Outlook and Invitation by Ole Jani , Dietrich von Klaeden and Marc Lemcke
Transatlantic collaboration faces many well-known challenges . From the beginning we have tried to foster opportunities in working across the Atlantic by focusing on tangible results in an economic sector that is now critical to the world economy : entrepreneurship . There are probably few areas where collaboration and knowledge exchange make more sense than with entrepreneurialism , especially among cities in the US and Europe .
Cities like New York and Berlin , for example , face similar challenges and must be pragmatic in providing economic opportunities . With a “ design-do-iterate ” approach , we aim to bring people and institutions together to create concrete results that benefit both regions .
From the very beginning in 2010 , the
Panel discussion at the TEP 2013 conference , December 5th
American Council on Germany , the German Consul General in New York , and Union Square Ventures have supported the idea of the Transatlantic Entrepreneur Partnership initiative when nothing like this had ever existed and the benefits were
Photo credit : Tobias Everke
not yet tangible . Now , concrete initiatives are under way . For instance , the Berlin Senator for Economics , Research and Technology , Cornelia Yzer , and Brooklyn Borough President Eric L . Adams will sign an agreement enabling clean tech compa- nies to expand faster and cheaper in the US . Also , the German American Chamber of Commerce will launch a new on-boarding program for German companies coming to the US . More initiatives are in the works .
Where do we go from here ? True to our open and collaborative approach , we would like to invite interested people and institutions to work with us to foster more entrepreneurial cross-border collaboration that will benefit both sides of the Atlantic . What TEP has been able to do with the tremendous support of our partners has convinced us that small city project teams can generate significant results . We want to create a small project team that can accelerate existing projects and initiate new cross-border collaboration throughout the year . We would like to invite you to help take TEP to the next level .