FluxPort in the Cave of the Lion: On October 31, at 20:15, our pitch ran in front of the Lions on Vox. We, the Berlin start-up with the idea to create an infrastructure for charging the smartphone, look back and share our impressions.
How we applied
At FluxPort, we're working on building a nationwide network for wireless charging as quickly as possible. We are bootstrapped - the more resources we have, the bigger jumps we can make. In addition, wireless charging technology is not yet known to all, it could change. That drove us to participate in an open call of the "The Cave of the Lions" in the Berlin co-working space Mindspace in autumn 2016 . The FluxPort idea convinced the producers and at the beginning of 2017 we received the acceptance for the broadcast.
Prior to the show, we invested heavily in the development of the FluxPort Coins App and sought out discussions with financial experts and consultants to gather feedback on our pitch and make it as effective as possible. Unfortunately, the FluxPort idea is not a ready-made sauce that we mix in the pitch and then ask the lions if it tastes good or not. Because we have a complex business model - hardware, AI software, digital and analog advertising revenue - the pitch preparation process was not so easy. That was the biggest challenge.
The pitch and the harsh criticism of Frank Thelen
Yes, it hurts to see criticism of your own company on TV, with the feeling that you can not imagine or consider parts of our business model - such as the associated app, the use of artificial intelligence. And, of course, there is a lot of passion in such a project. As a founder you invest a lot of time and money in an idea, you put in a lot of requested and unsolicited feedback. To develop something out of nothing requires discipline, knowledge and the ability to motivate oneself. We've been involved in wireless charging for over three years, we're engineers and the lions are not the first investors to have listened to our model. If we meet Frank again at one of the many startup events, maybe we can smile about it together.
|Photo: MG RTL D / Bernd-Michael Maurer|
Why did you go on the air with such a high rating?
We have had our opinion checked in advance several times, by financial experts, by management consultants and also by investors with whom we have already been in talks. We can hardly blame them for not knowing each other. Yes, our rating was too high for the show, where the lions often halve the company's score during the pitch and then perhaps invest a few tens or even six-figure sums. We went straight to the program unadulterated. FluxPort has been around for three years, we are not a brand new start-up in the seed phase, we have a different financing need.
The verdict of the spectators
Der Auftritt bei der Höhle der Löwen war eine einzigartige Erfahrung für uns. Die Aufmerksamkeit freut uns natürlich und wenn sie FluxPort vielen Menschen näherbringt, ist das großartig. Wir waren einer der ersten Qi-Wireless-Charging-Anbieter auf dem Markt noch vor Ikea, noch vor den großen Smartphone- und Autoherstellern. Eine Infrastruktur aus Home-, Car-, Office- und Out-of-Home-Produkten bietet in der Form wie wir auch noch kein weiterer Anbieter an. Mit dem Launch des iPhone 8 Ende September, ca. drei Jahre, nachdem Samsung Qi einbaute, nimmt das Thema Wireless Charging richtig an Fahrt auf. Wir wollten es in der Höhle der Löwen auf eine weitere Bekanntheitsebene bringen.
Much more important than the show is to let users get in touch with FluxPort, providing them with a good customer experience, as well as convincing our partners with a good product and excellent service, with our performance and innovative technology. The whole team is working very hard on this development and that's the only way we can persuade our customers and partners. We have big plans - and go for it!