News Archives

Monkee and Biome Diagnostics Shine in Top Startup Ranking

Staying at the forefront of venture capital requires an eye for groundbreaking opportunities. Venionaire Capital and Venionaire Ventures S.à r.l., manager of the EXF Alpha S.C.S fund for the European Super Angels Club (ESAC), are excited to see two of the fund’s standout portfolio companies, Monkee and Biome Diagnostics, recognized as top Austrian startups for their innovation. Both were featured in the recent issue of trend, one of Austria’s leading business publications, showcasing their contributions to their respective fields.

Monkee and Biome Diagnostics: Leading in Innovation

Monkee, ranked 4th, is transforming personal finance with its “Save Now, Buy Later” platform that promotes healthy saving habits without relying on credit. Meanwhile, Biome Diagnostics, ranked 10th, is advancing personalized medicine with products like myBioma for gut health analysis and BiomeOne for predicting immunotherapy responses. Both startups exemplify impactful innovation in their respective markets and demonstrate the effectiveness of Venionaire Capital’s strategic investment approach.

Insight into the Evaluation Process

The list of the 150 most innovative companies in Austria represents a redefined view of the national business scene. Compiled by trend. in partnership with the German market research firm Statista, the process involved over 25,000 individual assessments. Moreover, the ranking featured the top 10 ATX companies, the 20 best international firms with Austrian subsidiaries, the 20 leading startups, and 100 other innovative businesses led by Alpla.

Patents were an important criterion, but the assessment extended beyond that. The process included surveys of 9,000 employees and consultation with 400 innovation experts.

The Final Scores

A 40-member expert jury, comprised of seasoned business consultants, patent attorneys, and startup specialists, played a crucial role. Their evaluations held significant weight in the final scores. This jury provided invaluable insights into product and process innovation, as well as innovation culture, offering a comprehensive view beyond standard metrics.

Venionaire Capital’s Focus on Growth and Innovation

Venionaire Capital is dedicated to nurturing forward-thinking startups through the EXF Alpha S.C.S fund managed by Venionaire Ventures S.à r.l. The recognition of Monkee and Biome Diagnostics highlights the effectiveness of this strategy. Supporting companies that push boundaries reinforces Venionaire’s commitment to fostering progress in various industries.

Acknowledgments like these emphasize the dedication of portfolio companies and the strategic acumen of Venionaire Capital. The firm looks forward to enabling more innovative solutions and creating value for its investors.

“Mom, are we there yet?” Bitcoin’s Journey Beyond the Election Cycle

11/04/2024/in Crypto, News /by Venionaire

Author: Igor Hadziahmetovic | Investment Director & Web3 Tech Lead at Venionaire Web3

In the short term, it doesn’t really matter who wins the US elections. The bitcoin price is poised to appreciate further. The reasons for this optimism are manifold; some of the key factors revolve around bitcoin being an accepted hedge against economic turbulence and uncertainty:

Ever-increasing US national debt and money printing
Increased weakening of the USD as the world’s reserve currency
De-dollarization by central banks and rising sovereign debt as demand driver for bitcoin and gold reserves
Centrals banks, governments, and corporates increasingly include bitcoin along with gold in their reserves and balance sheets
Financial institutions are increasing their BTC adoption and crypto-industry involvement
US ETF inflows are increasing, with other countries following suit

On Tuesday, 29-Oct, bitcoin approached its all-time high (ATH) at around $73.6k before quickly retracing. Depending on the trading venue, some prices did breach new highs, as seen with bitcoin CME futures reaching a new ATH at $74,485. The last week of October brought exceptional price performance, with bitcoin closing the month up 10.9%. Currently, we’re seeing price retracements across the board. When bitcoin experiences even minor corrections, altcoins typically face more significant declines due to their higher beta.

Weekend price action, notorious for lower liquidity and reduced trader participation, often allows for wider price swings before Monday’s open. The last weekly close left a large upper wick reaching into the ATH price range, before retracing to close +1.18% higher than its opening price. However, on monthly, weekly, and daily timeframes, bitcoin maintains its bullish stance as long as it holds the $65-66k level. Even a retracement from $74k to $65k, representing a 12.5% decrease, would not disrupt bitcoin’s bullish market structure.

As a side note: Election days typically see heightened risk premiums, with many traders and investors looking to reduce their exposure. bitcoin experienced similar price retracements a few days before the 2016 and 2020 elections, dropping approximately 7% and 10% respectively. Notably, these pre-election lows were never retested after the elections concluded.

Let’s zoom out a bit.

The short-term impact of the US presidential elections on bitcoin’s price appears to be already priced in, suggesting a potential sell-the-news event. I’m not sure if this holds true for Ether, though. It is interesting to see what historical data shows for the post-elections period of bitcoin’s performance (BTC Index). It can help us to understand what might lie ahead:

Year of elections	30d performance	90d performance	180d performance
2012	24.15%	92.02%	937.91%
2016	9.88%	49.55%	135.95%
2020	41.75%	161.89%	321.88%
Average	25.26%	101.15%	465.24%

The regulatory landscape for bitcoin is improving globally, not just in the US. This trend is expected to continue under the new president, whoever that may be. bitcoin became one of key topics in the US election campaign, which underscores its importance in the political landscape and its role in national interests. I guess bitcoin has indeed come a long way from being ignored and later fiercely opposed as a ‘currency for criminals.’

But, beside bitcoin, there are thousands of other coins and tokens out there that haven’t really profited from positive regulatory development. Yet.

I find this point far more interesting for the post-elections period, potentially providing quality altcoins with strong tailwinds and boosting their adoption. Verticals and sectors like Payments (CFS), zk-Tech, DePIN, SocialFi, DeFi, Abstractions, xVM, and others could experience enormous growth. Currently, many technically sound and battle-tested projects face constraints in reaching their target audience and achieving greater adoption due to regulatory risks, uncertainty, red tape, and selective crackdowns.

US politicians have communicated their ambition for the country to become the world’s leading crypto industry hub, which fuels my optimism for a positive shift in regulatory stance towards quality altcoins. As we know, the crypto industry is much, much more than just bitcoin.

In case of delayed election results (e.g., recounting, contesting, etc.), the short-term volatility period may be prolonged, potentially distorting investors’ long-term perspective. This could drag on into January — the official inauguration is set for January 20th. Reacting to short-term, election-driven market changes might shake out some investors. In other words: if you hold bitcoin and quality altcoins, don’t let occasional price retracements disturb you if your investment horizon is 6-12 months or longer. Similarly, it’s good to keep some capital aside for accumulation opportunities.

The Future of Climate Summit Vol II: A Landmark Event for Sustainable Innovation

09/03/2024/in Corporate News, News /by Venionaire

The world is at a critical juncture in the fight against climate change. According to the Intergovernmental Panel on Climate Change (IPCC), climate change could become irreversible by 2030. With just seven years left to create meaningful change, the urgency to act has never been greater. In response, the PDIE (Purpose Driven Innovation Ecosystem) Group and Venionaire Capital are hosting “The Future of Climate Summit Vol II.” This event will unite influential voices and leaders to address the global climate crisis.

A Pivotal Moment in the Climate Movement

Scheduled for September 20, 2024, “The Future of Climate Summit Vol II” will take place at Dentons Law Firm’s head office in New York Midtown. This summit promises to be a significant step toward a sustainable future. It will provide a platform for experts, visionaries, and changemakers to exchange ideas and present innovative solutions to the climate crisis.

Organized in collaboration with The Earthshot Prize, this event underscores its importance and potential to drive real change.

Exploring “Positive Futures Enabled by AI”

The summit’s theme, “Positive Futures Enabled by AI,” focuses on critical topics. These include energy transition, the future of sustainable cities, decarbonization, food and agriculture, and natural capital and biodiversity. These discussions aim to encourage collaboration and generate actionable strategies to address climate challenges.

Moreover, the summit features an impressive lineup of speakers, including:

– Xiye Bastida: Youth activist who rallied 30,000 followers for Fridays for Future in New York.

– Augusto Lopez-Claros: Chairman of the Global Governance Forum.

– Hindou Oumarou Ibrahim: Earthshot Prize Council member and advocate for Indigenous peoples’ rights.

– Daniel Blackman: Senior Advisor for STEM Recruitment and Diversity at the United States Environmental Protection Agency.

– Dr. Luke Haverhals: Founder and CEO of NFW, a company dedicated to creating sustainable materials.

These speakers bring diverse perspectives and innovative ideas to ensure the summit is enlightening and impactful.

A Call to Action for a Sustainable Future

Christian Schmitz, founder and CEO of PDIE Group and Associate Partner at Venionaire Capital, emphasizes the importance of this event. He states, “We believe that by bringing together outstanding solution providers, investors, and global leaders, we can accelerate progress toward a sustainable and resilient future. Through engaging discussions, impactful collaborations, and visionary ideas, we aim to create a community committed to solving our climate crisis and making a lasting impact.”

Berthold Baurek-Karlic, CEO and founder of Venionaire Capital, shares this sentiment. He says, “At the Future of Climate Summit, I expect groundbreaking innovations to address our planet’s most pressing challenges. This summit will bring together a dynamic mix of innovators, thought leaders, and investors. It will create a powerful platform for collaboration and progress. I am confident that the synergies formed here will drive impactful solutions and pave the way for a sustainable future.”

Secure Your Spot at This Landmark Event

With limited seats available, “The Future of Climate Summit Vol II” encourages individuals and organizations to secure their participation. This is more than just an event—it is a crucial gathering of minds dedicated to ensuring a sustainable future for generations to come.

Spot Reservation: https://pdiegroup.com/future-of-climate-summit

Revolutionizing Workplace Nutrition: The Launch of Linde Digital’s Social Snack Bar

09/02/2024/in Corporate News, News /by Venionaire

In today’s fast-paced work environment, maintaining a healthy diet and fostering social responsibility is challenging. Recognizing this, Linde Digital has launched the Social Snack Bar. It was developed in close strategic partnership with Venionaire Capital, who proudly holds a stake in Linde Digital. This innovative app simplifies employee access to snacks and meals at work while promoting healthy eating and social responsibility.

What is the Social Snack Bar?

The Social Snack Bar allows companies to create a virtual snack store for their employees. Employers simply upload photos and descriptions of available snacks, transforming the workplace into a convenient digital marketplace. Employees can browse the selection, check available quantities, add desired snacks to a cart, and complete their purchase—all within the app. Moreover, the Social Snack Bar isn’t just a digital vending machine. It empowers companies to promote healthier lifestyles and demonstrate a commitment to social causes.

A Win-Win for Employers and Employees

One standout feature is its seamless integration with existing company systems. Employers can set up meal vouchers or subsidies directly in the app. This allows employees to see their current balance and make informed purchases. This feature is particularly beneficial for companies encouraging healthier eating habits.

Furthermore, the app’s backend automates several processes. It generates a list of consumed snacks and forwards it to payroll. This ensures that snack costs are accurately reflected in salary calculations without manual effort. Additionally, the app manages inventory by automatically creating a shopping list based on real-time data, simplifying the restocking process. Best of all, companies can access these benefits for just 1 Euro per user, with a flexible monthly contract.

A New Level of Social Responsibility

The Social Snack Bar also offers a unique way to engage in corporate social responsibility. Employers can assign tags to individual products, setting lower prices for healthier snacks. They can also add a small donation to a charitable organization for every healthy snack purchased. “The key to this approach is that employers can assign tags to individual products,” explains Benjamin Jentzsch, Managing Director of Linde Digital and Linde Verlag. “For example, the price of healthy snacks can be set lower, and the company can also add a small donation to a charitable organization. This creates an extra incentive to promote healthy eating, social responsibility, and the well-being of the workforce. The accumulated donation amount is displayed in the app.”

A Partnership for Innovation

Since 2022, Linde Digital GmbH, a subsidiary of Linde Verlag, has been developing new digital business models. The Social Snack Bar is one of their latest innovations. It was developed in close strategic partnership with Venionaire Capital. Together, we create tools that address business needs and contribute to a healthier, more socially responsible work culture.

Looking Ahead

As companies explore ways to enhance employee well-being and promote social responsibility, the Social Snack Bar stands out. It’s more than just providing snacks—it fosters a healthier, more connected, and socially responsible workplace. The Social Snack Bar’s launch marks an exciting step forward in workplace innovation. We look forward to seeing its positive impact on companies and their employees.

Austrian Fund of Funds: Austrian Economics Minister Kocher proposes Fund for Startups

08/29/2024/in Market Pulse, News /by Venionaire

Economics Minister Martin Kocher has introduced a notable proposal: an Austrian Fund of Funds for Venture Capital. The idea follows the intention of ÖVP, to strengthen Austria’s position across all economic sectors. Berthold Baurek-Karlic, CEO of Venionaire Capital, sees potential positive developments for Austria as a business location in this proposal.

How would it work?

Institutional investors such as pension funds, banks, and insurance companies—holding a combined total of around 280 billion euros—are being encouraged to contribute to a fund supported by the government with favorable conditions. An initial capital allocation ranging from 500 million to 1 billion euros from institutional investors is being considered. The ministry suggests government guarantee elements, where the public sector would protect investors from a certain portion of potential losses. Minister Kocher also mentions potential tax incentives, which could make these investments appealing even for individuals through tax exemptions. These measures, according to the minister, pose minimal risk to the state but could greatly benefit young companies.

Insights from the CEO of Venionaire Capital

The idea is not new; it was introduced over 6 years ago. It is a project that the Austrian government has never delivered, while other countries in Europe successfully did. Moreover, the start-up scene has been calling for such a fund for years. “It took the government years to come up with FlexKap; a few changes to the Limited Liability Companies Act would have been enough. A fund of funds would have had a much greater economic benefit than a new company act. Why was it not implemented as planned?

The market would become more attractive for international funds (as they would likely open offices in Austria), which would make follow-up financing easier for domestic start-ups and fewer companies would move away,” says Berthold Baurek-Karlic, CEO of Venionaire Capital and Austrian Business Angel of the Year 2023. If these start-ups were kept in the country, there would be more new jobs and tax revenue for the state. “At the moment, we are just a great exporter of talent, it’s a crying shame,” says Baurek-Karlic.

Timing of the Proposal: Strategic Considerations

It’s likely no coincidence that Martin Kocher is revisiting this proposal now, with elections just a month away. While the start-up community generally welcomes the idea, there’s a clear sense of frustration. Back in 2020, then Minister of Economic Affairs Margarete Schramböck promised to launch a similar fund “within days.” The initiative was included in the government program, and politicians frequently praised the concept. Yet, as of late August 2024, the situation remains unchanged: another announcement, but no action.

Read the original article of DerStandard from Andreas Danzer in German here: https://www.derstandard.at/story/3000000234161/wirtschaftsminister-kocher-schlaegt-fonds-fuer-start-ups-vor-was-das-dem-staat-bringen-wuerde?ref=article

Startup Scaling Strategies Part 2: Trust Building and Customer Growth

08/26/2024/in Market Pulse, News /by Venionaire

In the previous discussion on startup challenges, we explored how entrepreneurial ventures often fail to become established firms. Many startups falter as they navigate the “valley of death,” struggling to scale operations and grow their customer base. Successfully overcoming these challenges is crucial for new ventures to reduce the risk of failure and ensure long-term survival. One essential strategy for navigating this transition is trust-building, which helps startups gain internal and external legitimacy and overcome the liability of newness.

The Liability of Newness

New organizations frequently face the liability of newness, as identified by Stinchcombe (2000). Founders encounter higher perceived risks because their ventures are often unknown and unproven. This challenge aligns with findings by Rao and Costigan (Costigan et al., 1998; Rao et al., 2008) that emphasize the importance of building trust among customers to ensure the survival of entrepreneurial ventures. Trust-building is crucial for overcoming this liability and establishing legitimacy (Spremann, 1988; Stinchcombe, 2000; Welter, 2012).

Strategies for Building Trust

Trust can be built through strategies such as branding activities, maintaining a consistent online presence, participating in events, and engaging in transparent communication. These efforts help ventures establish both collective and personal trust. Collective trust is where individuals trust the organization, and personal trust is where the founder’s personal brand bolsters the venture’s credibility (Welter, 2012). By reducing perceived risk through trust-building, startups can increase customers’ willingness to commit, confirming the Commitment-Trust Theory (Morgan & Hunt, 1994). This approach aligns with Aldrich’s (2005) view on the importance of trust for entrepreneurs introducing new products to the market.

The Role of Branding

Branding emerged as a critical strategy. Personal branding is especially important in a startup’s early stages, as it fosters perceptions of seriousness, competence, and credibility. As ventures mature, corporate branding becomes increasingly important (Sichtmann, 2007). Founders can enhance their personal brand by demonstrating expertise, networking, speaking at events, and leveraging past experiences and relationships (Aldrich & Fiol, 1994; Stinchcombe, 2000; Picken, 2017). Social proof, such as positive feedback and public endorsements, significantly impacts perceived risk and credibility.

The Power of Communication

Consistent and transparent communication further strengthens customer trust (Wiesenberg et al., 2020b). Honest and professional communication aligned with the company’s values builds trust over time. Two-way communication, such as customer feedback and reviews, enhances customer satisfaction and trust, particularly in B2B contexts. However, excessive communication can breach trust, highlighting the need for balance (Petkova, 2012).

Building Strong Relationships

Strong relationships are vital for business success. Personal ties and high-quality customer service are crucial for growing and retaining a customer base, especially in B2B ventures (Berry, 1995; Geyskens et al., 1998; T. V. Nguyen & Rose, 2009). While referral marketing may not be essential initially, it becomes more relevant as the venture matures. Conversely, word-of-mouth (WOM) is a primary goal for many startups, as it is a cost-efficient and effective method for generating customer loyalty and acquisition (Buttle, 1998; Harisalo et al., 2005; Ngoma & Ntale, 2019).

Refining the Theorized Model

Revisiting the theorized model confirmed the importance of branding, communication, and relationship-building. However, the importance of referral marketing was downplayed in the early stages of the entrepreneurial lifecycle. This comprehensive approach to trust-building provides a robust foundation for new ventures to overcome the liability of newness and achieve sustained growth.

Introducing New Elements

Customer feedback, such as reviews and co-creation, was introduced to the model as its relevance for customer base growth emerged from the analysis. A key finding was the importance of showcasing the venture’s track record. Showcasing past successes leverages historic trust to build future trust. This practice helps retain customers by sharing success stories and attracting new customers drawn to the venture’s proven track record. WOM was discovered to be an overarching driver of customer base growth, enabled by the trust-building strategies and practices mentioned above.

Actionable Steps for Implementation

To facilitate the managerial implementation of these findings, five actionable steps have been developed:

1. Prioritize Trust-Building Strategies

Trust is essential to overcoming the liability of newness and ensuring customers commit to your venture.

Action: Implement personal and corporate branding activities, build a consistent online and offline presence, and engage in transparent communication.

2. Leverage the Founder’s Personal Brand

Showcasing credibility and expertise can help you be perceived as a domain expert. Leveraging the founder’s network helps gain from historical trust.

Action: Engage in public speaking, networking events, and utilize past experiences to enhance perception as a domain expert.

3. Focus on Relationship Building

Relationships are key to successfully growing the customer base, as they enable both customer acquisition and retention.

Action: Invest in relationship marketing and curate personal relationships offline. Implement personalized customer service and a CRM system. Regularly check in with clients, especially in the B2B realm.

4. Showcase Your Track Record

Ensure people know about your historic successes. Communicate your track record in your marketing and sales strategies to leverage past trust.

Action: Ask past and current clients for recommendations and statements on your work. Highlight your venture’s successes in your communication strategy.

5. Capitalize on WOM

Positive WOM is a powerful, cost-effective, and long-lasting marketing tool for customer acquisition and retention.

Action: Engage in the above-mentioned strategies, ensure high customer satisfaction, encourage two-way communication by introducing reviews and customer feedback (e.g., NPS scores), and share customer success stories.

Applying these five actionable points can contribute to the survival of the transition phase and customer base growth of scaling entrepreneurial ventures. By focusing on trust-building, branding, communication, and relationships, startups can successfully overcome the liability of newness and achieve sustained growth.

Author: Sylvie Steinegger, Msc

The Successful Exit of flovtec

08/23/2024/in Corporate News, News /by Venionaire

Venionaire Capital is pleased to announce the successful exit of flovtec, a Swiss-based market maker and portfolio company of the EXF Alpha S.C.S Fund, managed by Venionaire Ventures S.à r.l. flovtec has been acquired by STS Digital, a firm specializing in over-the-counter (OTC) trading and market making for digital assets. This acquisition marks a strategic milestone for both companies and advances the digital asset market-making sector.

Venionaire’s Role in the Deal

Venionaire Capital played a crucial role in advising on the deal. The EXF Alpha S.C.S Fund, the syndicate fund of the European Super Angels Club (ESAC), managed by Venionaire Ventures S.à r.l. based in Luxembourg, was directly involved. Berthold Baurek-Karlic, CEO @ Venionaire Capital, also served on flovtec’s Board of Directors and was instrumental in guiding the company through this acquisition process.

This exit underscores Venionaire Capital’s commitment to supporting innovative companies and delivering value to its investors. The successful acquisition of flovtec by STS Digital highlights the potential of the digital asset market. It also demonstrates the importance of strategic partnerships in driving technological innovation.

Looking ahead, Venionaire Capital remains dedicated to supporting groundbreaking companies within its portfolio and enabling more successful exits.

About flovtec and Its Market-Making Expertise

Since its founding in 2018, flovtec has established itself as a leader in liquidity solutions for digital assets. The company is known for its advanced algorithmic trading strategies and tailored liquidity management services. These innovative approaches have earned flovtec a strong reputation in the market, which paved the way for this successful and strong acquisition.

Deal Details

STS Digital’s acquisition of flovtec is a significant move that will greatly enhance its market-making services. flovtec’s clients, in fact, will benefit from increased liquidity and tighter spreads. Moreover, flovtec’s advanced trading infrastructure and proprietary algorithms will now power STS Digital’s platform. This integration strengthens STS Digital’s technological edge in the competitive digital asset market.

Additionally, flovtec’s strong presence in Switzerland, coupled with its regulatory compliance, will help STS Digital expand its reach across Europe. This aligns with STS Digital’s broader strategy to become a global leader in digital asset trading and market making. Furthermore, the combined expertise of STS Digital and flovtec will lead to improved customer service. Clients can expect regulated custody, cost-efficient trading strategies, and enhanced support.

A Significant Exit for the European Super Angels Club (ESAC)

The European Super Angels Club held an investment stake of approximately €1.5 million in flovtec. This exit represents a successful milestone for the club. Berthold Baurek-Karlic, President of ESAC and CEO of Venionaire Capital, expressed satisfaction with the outcome:

“The strong start of flovtec, marked by innovation and progress, led us at ESAC to invest in 2021. The merger with STS Digital, a leading trading firm for digital assets, is an excellent step forward in developing flovtec’s vision. STS Digital gains a wealth of expertise, experience, and innovative approaches from flovtec, which will ultimately benefit them. As the European Super Angels Club, we are proud to have supported this young and innovative company on their successful journey.”

Startup Scaling Strategies: Overcoming The Valley of Death

08/20/2024/in Market Pulse, News /by Venionaire

The Challenge of Startup Survival

Entrepreneurial ventures aim to bring novel ideas to life. Despite their brilliance, 90% of these ventures fail to become established companies (Krishna et al., 2016). As they grow, startups face different challenges at each stage of their life cycle. Successfully becoming an established firm is crucial to reducing the risk of failure (Picken, 2017; Rayport, 2022). The most dangerous phase is the “valley of death,” or the transition phase. During this phase, startups must prepare to scale and grow rapidly, often with limited resources (Graham, 2006). Successfully crossing this chasm is essential for a startup to expand operations and grow its customer base.

The Importance of Scaling the Customer Base

Early-stage startups often start with a small user base—typically their lead users. To become an established company, ventures need to scale both the firm and the customer base. Scaling often presents a significant risk, leading many startups to fail. They must address market risks and position themselves correctly (Picken, 2017). Research into strategies to overcome these challenges and the role of trust in this process is ongoing (Welter, 2012). Moreover, understanding the link between trust, entrepreneurship, and marketing practices to expand the customer base remains a key area of study.

Exploring the Role of Trust in Entrepreneurial Success

A qualitative study interviewed 32 experts in entrepreneurship, including founders, investors, professors, and growth leads. This study adds to the literature on the connection between entrepreneurship and trust. It focuses on how startups can acquire and retain customers by engaging in trust-building strategies. The research explores how these strategies can be used to scale the customer base. The study does not focus on any specific industry or geography.

Research Aims and Findings

The research explored the relationship between scaling a growing venture and achieving customer base growth through customer trust. The author theorized that building trust positively impacts customer base scaling during the transition phase. New ventures often face the liability of newness, where trust is crucial. Successful customer base growth is vital for reducing the risk of failure.

A Two-Staged Model for Building and Leveraging Trust

The study tested a two-staged model through expert interviews. In the first stage, new ventures build trust by adopting proven strategies from the literature. These strategies help organizations gain customer trust. In the second stage, ventures leverage this trust to grow their customer base through marketing practices. The author proposed strategies to enhance trust during both stages. This approach helps ventures scale by growing their customer base and successfully navigating the transition phase.

The Critical Role of Trust in Startup Success

The interviews showed that trust is crucial for startup survival. Building relationships with customers before, during, and after purchases is important. The trustworthiness of the founding team also plays a significant role. Being recognized as a domain expert enhances trust in the customer base. Transparent, simple, and consistent communication further builds trust.

Leveraging Trust to Drive Customer Growth

Consistent relationship-building, customer feedback, and focusing on satisfaction are key to leveraging trust. These practices lead to customer base growth and increased word-of-mouth (WOM) promotion. Building and leveraging customer trust positively impacts customer base growth. This approach enhances the survival chances during the transition phase for scaling ventures.

Author: Sylvie Steinegger, Msc

Navigating the Future of Web3: Insights from Berthold Baurek-Karlic, CEO of Venionaire

07/11/2024/in Market Pulse, News /by Venionaire

During the annual World Venture Forum in Kitzbühel, BTC Echo‘s Editor-in-Chief Sven Wagenknecht interviewed Berthold Baurek-Karlic, CEO of Venionaire about the World Venture Forum becoming a crypto hotspot on the first day, about timing when it comes to crypto and about today’s environment for M&A deals.

The Transformative Power of Blockchain

In Web3, timing investments is less important than the transformative power of blockchain technology itself. We’ve seen the World Venture Forum become a bustling hub for crypto innovation , now celebrating its tenth year. What started as a small golf tournament has grown into an annual event attracting global investors and thinkers eager to explore the future of digital economies.

The Serendipitous Beginnings of the World Venture Forum

Our journey with the World Venture Forum began unexpectedly· A casual chat with Kitzbühel’s mayor about bringing investors together sparked the idea to create a platform for pioneers in digital assets. Over the years, driven by growing interest in cryptocurrencies, especially during the rise of Web3 technologies, the World Venture Forum expanded into a week-long event. It became clear early on that Kitzbühel’s beautiful setting was perfect for discussions on decentralized computing, innovative blockchain applications, and the broader impacts of the Internet of Blockchains.

Venionaire Capital’s Strategic Investment Approach

Venionaire Capital’s investment strategy focuses on finding projects with strong business models in the Web3 sector. We manage a specialized Web3 fund, the first registered Alternative Investment Fund Manager (AIFM) in Austria authorized for crypto investments. Unlike traditional approaches based solely on market capitalizations, our strategy emphasizes deep community engagement and thorough due diligence. We seek out companies that not only use blockchain technology but also drive sustainable progress in digital networks.

Anticipating the Future of the Cryptocurrency Market

Looking ahead, we expect further development in the cryptocurrency market marked by clear market cycles. After a period of market ups and downs, known as the “Crypto Spring,” we foresee a phase of consolidation and maturity. Regulatory changes, along with the introduction of crypto ETFs, are set to improve market transparency and institutional acceptance. This transformative phase offers opportunities for forward-thinking firms like 21shares, which develop ETFs and contribute creatively to the Web3 ecosystem.

The Fluid Nature of Web3 Investments

When evaluating market trends, it is crucial to highlight the fluid nature of Web3 investments. Unlike traditional sectors where timing is critical, the Web3 universe thrives on ongoing innovation and adaptability. The early days of the internet provide a good comparison; while market sentiments may fluctuate, our dedication to understanding and shaping the future of blockchain technology remains steadfast. It’s not just about investments; it’s about nurturing an environment where digital natives and experienced investors can fully leverage the potential of the Internet of Blockchains together·

Beyond investments, Venionaire actively participates in M&A advisory to foster strategic growth opportunities for our portfolio companies. In a landscape characterized by dynamic changes and strategic consolidations, we navigate opportunities for organic growth and transformative acquisitions.

The original interview has been published in German and can be read here: https://www.btc-echo.de/news/venionaire-capital-ceo-im-web3-ist-es-egal-wann-man-investiert-187877/

The Startup Rollercoaster: How a new Netflix Series can lead to Explosive Growth!

04/30/2024/in Market Pulse, News /by Venionaire

In the world of startups and scaleups, every founder dreams of that one breakthrough moment, the unexpected event that sends their sales soaring. Startups usually run growth experiments for performance marketing and position themselves for the breakthrough moment. This can also come by surprise if the market winds start to blow towards the problem they are tackling. Is it luck or is it the fruit of hard work? Either one. It can happen to any startup, at any time and when lightning strikes, you’ve got to be ready to harness that energy and ride the wave. And sometimes a Netflix series called “Hack Your Health: The Secrets of Your Gut” is responsible for explosive growth.

Founder Advice 101: Ready, Set, Scale!

So, you’ve got a killer idea, a passionate team, and a burning desire to change the world. But here’s the harsh reality: success isn’t just about having a great product. It’s about being ready to scale when the opportunity arises – and that can happen out of the blue. That means you have to build a strong foundation, stay agile, and always be prepared to pivot when the winds of change start blowing. This is crucial for those who want to use their once in a lifetime chance.

A recent example of such a striking incident, increasing sales momentum 20 to 30 fold, happened to our portfolio company Biome Diagnostics, just this week. Let’s take a closer look into it and share some learnings with all founders and investors out there.

Unleashing the Microbiome Miracle: BiomeDX’s Netflix Moment

Picture this: a normal day at the BiomeDX headquarters, when suddenly, the internet explodes with chatter about gut health, all thanks to a Netflix series called “Hack Your Health: The Secrets of Your Gut“. Although the topic of gut health has been scientifically en vogue for years, publications on the subject, books have been written, etc., the topic has only now really reached the general public through Netflix. Infotainment has hit, now everyone wants to optimise their gut health and is looking for the right products and partners online. In a matter of days, the world is buzzing about the microbiome, and BiomeDX finds itself at the epicenter of the craze.

With their flagship product, “myBioma,” poised to revolutionize the way we understand gut health, BiomeDX sees sales skyrocket overnight. Now, imagine this: in the blink of an eye, BiomeDX finds themselves not just doubling or tripling their sales, but multiplying them by a staggering factor of thirty! Yes, you read that right—thirtyfold growth in the blink of an eye! It’s the kind of meteoric rise that most startups dream of, and yet, for BiomeDX, it’s become a reality. But here’s the twist: they were ready. Ready to scale, ready to innovate, and ready to seize the moment when opportunity came knocking. It’s a testament to their foresight, their resilience, and their unwavering commitment to seizing every opportunity that comes their way.

The Takeaway: Be Prepared, Be Proactive, Be BiomeDX

So, what’s the lesson here for all you aspiring founders out there? It’s simple: always be ready for the unexpected. Success isn’t just about having a great idea—it’s about being prepared to capitalize on opportunities when they arise. Whether it’s a viral Netflix series like Hack your Health or a chance encounter with a potential investor, you’ve got to be ready to pounce and ride that wave of momentum all the way to the top.

So, are you ready to unleash your startup’s potential? The time to act is now. Just remember: when opportunity knocks, don’t just open the door—kick it down and make it yours. And who knows? With a little luck and a lot of hustle, you just might be the next BiomeDX, riding the wave of success all the way to the top!

And if you’re itching to dive deeper into the fascinating world of your gut microbiome, then look no further! Head over to https://mybioma.com/ to get your hands on a test kit and unlock the secrets of your microbiome today. Don’t miss out on the opportunity to take control of your health and embark on a journey of discovery with BiomeDX. Your gut will thank you!