Founder of the month: Charge Circle
What does your company stand for?
Long-term charging partnerships for the shared use of privately operated lorry charging infrastructure.
Where and how did you come up with the idea to set up the company?
We had initially focused on V2G, but during a visit to a customer it became clear to us that the market does not currently need this, or is not yet ready for it; rather, the lack of charging infrastructure is currently the biggest hurdle to the electrification of their fleet. Likewise, the lack of predictability and reliability when charging electric lorries is a major problem, which is primarily due to the lack of infrastructure; public charging is also a significant cost factor. It felt as though the solution was right there in front of us on a silver platter: booking and reserving charging slots, ideally at private depots, which would then also receive payment for the unused capacity of their own infrastructure.
Where do you see any significant hurdles in the startup process?
The first hurdle is finding the right co-founders. Every co-founder needs a clearly defined area of responsibility where they can make good use of their own strengths and where they are actually ‘needed’. The second challenge is commitment: every co-founder must be prepared to go the extra mile to drive the business forward.
This can mean late nights, financial investment, but also a willingness to adapt quickly, independently and flexibly. The third hurdle is the startup process itself; here, you need to think carefully about when to launch the business and in what form. For example, we had to postpone our launch to take part in a funding program, but if you’re looking for a VC, for instance, a specific legal structure is often required. You have to decide on a case-by-case basis what suits you best. Last but not least, you naturally need to think about the distribution of shares in the company – do you want to bring someone else on board? What percentage will they receive in return?
Where did you seek support?
We’re receiving funding through the exist program until the end of June; for this and other funding programs, we’ve received support from KIT-Gründerschmiede. We also have a mentor at KIT – a professor who’s helping us with optimisation. We’re also working with a sales consultant, independently of KIT.
What were the biggest challenges during your startup phase?
Above all, putting the team together and constantly adapting our product to the needs of the market and our customers kept us busy. As we’re still due to formally incorporate in Q3 this year, the changes that come with that will also be exciting for us. We’ll also be looking into seed investment in the autumn; we’re hoping to secure angel investment at that stage.
In your view, what qualities should a founder have?
Flexibility, a love of the unknown and a thirst for new things, high motivation, emotional stability and patience 😉
Do you have any practical tips for other young entrepreneurs?
Don’t be too hard on yourselves. Have the courage to take the plunge. Start out on your own first and look for co-founders you really need and with whom you’re on the same wavelength. A tip from our CEO: do things that don’t scale!