Germany lacks chemical start-ups.
ChemVote offers a platform for chemical start-up to present their ideas to a wide audiance,
which values the ideas and assigns together with experts governmental funding.
Publicity encourages growth of start-up scene.
Our stakeholder Johanna Bell works at the Federal Ministry of Economics and Energy. Johanna is responsible for topics such as early stage start-up funding and decides which start-up should get what amount of funding.
The stakeholder faces one major challenge: There is a lack of start-ups in the chemical industry. Reasons for that include that students usually consider an academic career or a career in an established company after their graduation. Furthermore, in Germany investors see a big risk in funding chemical start-ups. Failing business has a rather negative connotation in Germany as opposed to other countries (e.g. USA). If start-ups and failure of start-ups find a broader public acceptance, more start-ups will be established. This is Johanna’s major goal.
How can our service help her?
Our service ChemVote invites young start-ups to apply for public funding. The most promising ones are selected by Johanna and her team. They will pitch their idea on TV in front of an audience composed of „ordinary people“, the tax-payers. In order to guarantee high quality and entertainment we will provide pitch training. Also, an expert jury will comment on the ideas to broaden the audience’s horizon. Questions from the audience will directly be answered. The pitches will be recorded and can be viewed on our website. After the pitches, the audience will vote for their favorite proposals online. They can decide upon how much of the designated funding will flow into which start-up. On our website, the audience will also be provided with a one-page summary of each pitch. In order to avoid double votes verification (e.g. tax identification, pass port identification) is implemented. According to the votes the start-ups will be provided. The audience will from time to time be updated on the progress of the funded start-ups.
As a result, our service helps the public to better understand the importance of the chemistry start-up scene. In this way, Johanna can justify that she needs further money to fund start-up projects. At the same time, more young chemists are shown the opportunities of founding their own start-up and more start-ups will promote the “Chemiewende”.