Foundation of the month: qinu

How did the founding team come together?
We three founders met in the research group of Wolfgang and know each other now for many years. Since in the research group the systems were already used and manufactured in a previous version, we all had a lot of practical experience with manufacturing, but also with the procurement of the individual parts, etc., before the foundation.

Where do you see the hurdles in the founding process? Where did you get support?
To commercially realize a product from research and bring it to market, there are many questions and uncertainties at the beginning. What was the first big hurdle for us in this sense, was the information procurement. It was important for us to understand exactly what research transfer options are available and what advantages and disadvantages they have. Once it was clear that we wanted to do this independently via a startup, it was important to clarify how to start a company in the first place, what financing methods are available, and more. Here we have taken support, where we could only. Advisory centers in the KIT environment were helpful, but the various chambers of industry and commerce also provided a good basis for information and advice. Especially helpful for us were meetings and discussions with young founders themselves.

What was one of your greatest challenges during the start-up phase?
Our products are complex technical systems with an average delivery time of 6-7 months. Accordingly, manufacturing management and production planning was and still is very challenging for us. From the establishment of a stable supply chain to the transfer of manufacturing knowledge from the founders to the first employees, there are many small challenges in the process, especially in the days of Corona. We have made great progress here over time, but we still see potential for optimization after one year.

Do you have any practical tips for other young entrepreneurs?.
Get in touch with other founders as early as possible and ask as many questions as you can. For example, we have written directly to other founders*innen before the founding and asked if you could meet for lunch or coffee. This not only gives you insights into details, but also anecdotes about challenges the founders had to solve. Learning firsthand that others also had to overcome many challenges initially is very reassuring.

What would you perhaps do differently from today’s perspective/ approach?
On the whole, we are very satisfied with the individual decisions. A big factor is and was with us always the time. Here we could certainly have put more focus on greater efficiency and effectiveness; some priorities we could certainly have set differently. In addition, a larger team is of course always helpful in distributing tasks better. At this point, we could have looked for new employees earlier and with more commitment.

What are your plans for the future? What are your next big milestones?
Our current focus is on building the company. In addition to optimizing manufacturing are looking for new employees, both for the actual manufacturing, but also for administration or sales. In addition, we are currently still delocalized in the office and manufacturing space, which is why we are looking for a suitable production building in Karlsruhe and surrounding area. Currently, we are focusing on the European market due to the high demand and the lower complexity. A next big step will surely be the development of new markets, preferably the US market.

Thank you very much for answering the questions! ☺.

PODCAST.

Listen in to our Podcast episode Foundation of the Month: qinu.