RECAP: STEP NYC Program in partnership with GACCNY, March 2020
VentureOut Team | March 2020
From March 2nd through 5th of 2020, the VentureOut team worked with the German American Chamber of Commerce in New York (GACCNY) to power our German STEP NYC program! In the German tech one-week US market expansion program, startups learned how to launch and raise capital in the US and got connected with some of the top tech influencers and investors in NYC.
AMALYZE AG helps sellers and vendors to maximize their sales on Amazon. They gather large quantities of data and provide that information to customers. Starting in 2017 they became the global provider of Amazon data in Germany and are now extending their business to the U.S. AMALYZE is aiming to be the world’s leading provider of an all-in-one-toolbox for Amazon sellers and vendors, helping them to grow and maximize their Amazon business. Since 2017 AMALYZE is also a certified partner agency for Amazon’s DSP.
BillFront operates a proprietary FinTech Lending & Factoring platform through which it provides working capital financing solutions to Technology and Media Companies worldwide. By providing faster access to their global receivables, BillFront fuels the growth of its B2B clients. Their self-developed, cloud-based and API-enabled platform connects with its customers’ accounting systems, media campaign dashboards and bank accounts. These features, combined with its deep industry know-how, allow for computer-aided credit scoring, liquidity and covenant monitoring, as well as the real-time tracking of collateral.
A new space company which is the product of a twenty year long development of innovative ceramic high performance rocket thrust chamber technology. The technology was based initially on transpiration cooled high enthalpy CMC (Ceramic Matrix Composites) space structures.
A new addressable context advertising channel for businesses, through connecting screen audiences with brands. Locations such as co-working spaces, hotels, gyms, cafes can connect their smart TVs to FRAMEN to make digital revenues with advertisements. Brands can book on FRAMEN screen time to get access to their target groups such as startups, managers, health and lifestyle-oriented audiences.
We develop innovative and holistic solutions for the operation, management and protection of IT-components in OT-infrastructures. Driven by our creativity and business mindset we constantly deliver solutions that perfectly tie into their OT environment. On the way forward, we are ready and willing to break boundaries. We combine state-of-the-art technologies with best in class people in order meet the highest quality standards. This is what we stand for – Industrial IT made in Germany.
Outsmart.ai offers AI-powered software robots, so-called AI Workers, that automate repetitive office tasks for corporate clients and learn through human-AI teamwork. AI Workers can take over back-office processes such as automatically processing incoming orders, routing and responding to customer service requests or any other task involving unstructured data (e.g., emails, paper forms or PDFs) by using cognitive intelligence.
Kim Kardashians' Shapewear brand SKIMS achieved 2 million USD in turnover on the first day. Our vision is to make shape me the number 1 brand for Shapewear in Europe. In order to achieve this goal and to continue the positive development at the same pace as last year, shape me will be the number one brand for Shapewear in Europe.
We are a global engineering consultancy that specialises in energy, resources sectors and environment. Through our interdisciplinary background, spacing from chemistry to fluid mechanics, across thermodynamics and continuum mechanics, we can handle uniquely our clients operations challenges. In addition to our technical consultancy services, we have in-house engineering capabilities that enable us to deliver high-quality virtual prototypes.
The world's first wristband that allows you to quickly and easily protect yourself from drink spiking. Almost everyone knows someone who has had experience with date rape drugs! They are no longer a big city phenomenon, but rather widespread. With the Xantus bracelet you can finally protect yourself or your children, siblings and friends!
The German American Chamber of Commerce® (GACC™) New York fosters the economic ties between Germany and America. Founded in 1947 the GACC New York offers a wide range of services to the Northeastern and Western states. The GACCNY founded the STEP NYC (Startup Entrepreneurship Program) in 2014 in partnership with VentureOut, which brings 40-50 of the best German startups to the US each year to support their US expansion.
VentureOut is proud to have had the opportunity to organize German programs on behalf of our partner. Our Incredible and longstanding partnership partnership with the GACC is what makes our German programs possible.
A One-week hyper accelerator Program:
Our one-week hyper-accelerator was an opportunity for the most promising early-stage tech companies from Germany to become immersed in the tech communities of New York, meeting with leading U.S. startups, corporations, and venture investors. We empower our international entrepreneurs with the education, resources, and connections needed to successfully raise capital to launch their business in the U.S. market.
Education and Mentoring are the backbones of any VentureOut program. By partnering with thought leaders in key areas, we give our startups an unfair advantage by arming them with best practices used to scale the most successful companies in Silicon Valley.
Investor Office Visits & Company INSIGHTS
We gave our startups an opportunity to sit down in a fireside chat setting with some of the top investors and entrepreneurs in the tech space in NYC.
U.S. Expansion Strategy
For any foreign startup, expanding to a new country means dealing with accounting, legal and immigration challenges. Our startups got to hear from a panel of lawyers and accountants that run some of the most active venture tech practices in NYC as well as representatives of the French institutions helping startups in their international expansion.
Pictured below: some of the highlights of the program.
Our start-ups settling in for their first workshop, “The dynamics of Venture Capital in the US”
Christoph Bene from Brock Capital explaining the differences between US and German investors.
Not many offices around the world have a view like this!
Our CEO Brian Frumberg outlining the fundamentals of raising capital in NYC.
Having a laugh with Kevin Urrutia, Founder and CEO of Voy Media.
Joe Daniels from McCarter & English laying down the literal law of doing business in the US.
Looking to sell in the US? Haithem Elembaby, senior vice-president at Harbinger Strategy telling us how.
The Pitch Night
The pitch night is the capstone of the STEP NYC program. We started with networking, cocktails, and hors-d’oeuvres. Following a round of introductions, then each startup pitched for 2 minutes and received feedback from each investor on the panel. The night was capped off with more networking and refreshments.
Heather has strong expertise in content strategy and Acquisition that she developed during her time at CBS, Verizon and throughout her life. Heather is currently working cross-functionally across Verizon’s business team in product, operations NBA innovation and marketing to drive content implementation and general strategy.
Experienced Chief Investment Officer and builder of large and successful asset management businesses. Demonstrated record of thought leadership, innovation, and forging teams to serve high net-worth, retail, and large institutional clients. Angel Investor, Advisor and Mentor for early stage companies which apply Artificial Intelligence, Machine/Deep Learning, Big Data, and other enabling technologies to solve real problems. Passionate about engineering better outcomes for investors by combining a strategic vision about what’s possible with a pragmatic understanding of what’s feasible.
With great pride borne over 45 years as a regional law firm, Chiesa Shahinian & Giantomasi, formerly Wolff & Samson, continues to advance our client’s legal and business success through in-depth insight and creative solutions. As respected legal and business advisors, our attorneys play an integral role working closely with clients from a diverse range of industries on matters big and small, on a local, regional and national basis.
McCarter & English is a law firm of over 400 lawyers in 9 offices throughout North America with a global practice. McCarter’s Venture Capital & Emerging Companies Group, of which partner Joe Daniels is co-chair, focuses on the formation, financing, growth and exit of fast-growth technology, life sciences and consumer companies for both founders and investors.
Rent24 is a co-working community and venture incubator dedicated to digital start-up companies in NYC. They help tech entrepreneurs develop their business in the US or Europe by leveraging their space and support infrastructure.
