The Best German Entrepreneurs
Germany is an attractive option for entrepreneurs due to its robust economy and workforce, as well as the support provided by government initiatives and policies for business activities.
Iyad Slik of 2hearts is one such entrepreneur. After arriving from Syria, she established her confectionery company in Berlin – as her immigration background inspired her to establish this startup that assists newcomers navigate Europe’s tech economy.
Rapp Motorenwerke
BMW is one of the world’s best-known car brands, exemplifying perseverance and innovation as an effective combination. Established in 1913 as Rapp Motorenwerke before evolving into Bayerische Motoren Werke (Bavarian Motor Works), today they produce motorcycles, cars, engines and the BMW Rapp Concept two-seater roadster with forward slanting grille and ventilated front fenders which pays homage to its founder.
Karl Friedrich Rapp was an engineer who founded BMW in Munich to manufacture aero-engines. Austro-Daimler contracted Rapp’s company to supply V12 engines during World War I; initially successful, technical issues caused lost orders and financial problems for Austro-Daimler; eventually this resulted in financial turmoil for Rapp and his firm.
By 1917, BMW was expanding too quickly and required additional funding. They turned to two Austrians named Franz Josef Popp and Max Friz for assistance; these men took over management of the business, restructuring it further before renaming it Bayerische Flugzeugwerke GmbH (BMW).
At this crucial juncture for BMW’s history, they shifted focus from aircraft production to producing vehicles instead. After World War I ended, production expanded into motorcycle manufacturing as well as automobile production; by 1923 BMW introduced its first motorcycle for production; by 1930s BMW had become one of the leading producers worldwide.
BMW is widely celebrated for its advanced engineering and sleek designs, but the company’s legacy of innovation also extends into space explorations and solar observation. BMW stands alone among companies worldwide in having an observatory for solar observation; such a move speaks volumes of BMW’s capacity for thinking outside the box and exploring different fields of interest.
Vivid Money
Vivid Money, based in Berlin, provides users with a comprehensive digital financial service. Their banking app features all-in-one features to allow for earning interest on deposits, investing in stocks or crypto assets and making cashback payments. Users can create shared pockets to manage finances with family and friends as well as withdraw and deposit funds at ATMs across the world for free while being protected up to EUR100k by German Deposit Guarantee Scheme.
Vivid Money app can be downloaded onto any smartphone or tablet for use, with its goal being to reinvent banking experience by offering personalized digital finance solutions. As an alternative to banks and credit unions, Vivid Money offers features such as cash withdrawals/transfers free of charge; instant top-ups with cards/Apple Pay; secure biometric login; track spending reports monthly financial reports as well as biometric login to secure login.
Vivid Money has made waves in European banking with their innovative neobanking solution, featuring mobile-first bank accounts that can be opened quickly via their app and come equipped with metal Visa debit cards. Furthermore, they have already raised over EUR15 million through a series A funding round which will allow them to expand their product offering further.
Vivid Money has achieved much, yet still faces several formidable challenges. Chief among these is competing with neobanks such as Revolut that offer similar products and features, and attracting enough users for growth of its business. Vivid Money has managed to overcome both obstacles by taking advantage of Solarisbank’s banking infrastructure allowing it to quickly scale operations while passporting banking services across EEA countries allowing it to go live quickly in France, Italy and Spain within months after German launch.
Deevio
Deevio, based out of Berlin, automates visual inspection processes in production with its artificial intelligence technology, augmenting human decision-making and helping solve complex quality control issues that cannot be managed using simple rule-based image processing alone. Deevio operates offices both in Germany and the US; among its competitors is Covision Quality; they belong to appliedAI program comprising 400 startups that utilize machine learning for productivity enhancement in different industries.
Deevio has experienced remarkable growth over the last several years. Not only has the startup earned numerous awards, but also secured significant investment capital – its most recent round led by Digital+ Partners with participation from eCAPITAL, HV Holtzbrinck Ventures, Lakestar and UVC as part of a collective investment pool.
Tettnang-based wenglor sensoric group acquired deevio GmbH late 2017, as part of Viessmann Group incubator wattx, to increase their expertise in AI and data science as well as Machine Vision innovations. Development teams will work to incorporate deevio’s technology into univision software environment of wenglor; eventually making this technology available to its customers; Christian Vollrath will take charge of deevio.
