1. why did you participate in the Strascheg Award or why should one participate?
The prize money enabled us to master the bridging phase between our studies and the start of the Exist funding without serious financial bottlenecks. In addition, the presentation at the award ceremony was a great opportunity to draw attention to our foundation.
What were your highlights at the Strascheg Award?
On the one hand, it was super exciting to see what other founding teams and founding projects there are. On the other hand, we were of course totally euphoric that we landed on the first place - we had not expected that!
What was the significance of the participation for you and what did you take away from it?
For us, the participation and the award was significant on two levels. On the one hand, it is of course very encouraging to be honored by the Strascheg Award and it has encouraged us even more to invest in the foundation - especially in times when many things are difficult at the moment. On the other hand, the award was financially crucial for us. It took a few months longer than we had planned to get our follow-up financing. Since we were already working full time on Advogarde at that time, there would have been a significant funding gap. That's when we could have used the prize money from the Strascheg Award - even if it was only half a year after the award. 4) How has your idea developed since the Strascheg Award?
Our start-up project has developed a lot since then. We are now at the end of a completed pilot phase with several law firms, have been able to develop our SaaS software to the point of productive use, and have established promising collaborations to build our digital legal department for SMEs.
What would you say to interested award participants and what would they take with them?
Just try it! We definitely didn't expect to come in first place!
6 And finally - let's be honest: What did you do with the prize money?
Of the 5000 Euros, we invested about ¼ in project-related expenses (development and marketing), ¼ for living expenses for the founding team between studying and founding, and about 50% is earmarked for the UG foundation.
We thank "Advogarde" for the nice interview and wish the whole team continued success.
Apply now yourself for the award, which is endowed with a total prize money of 30.000€. All students, professors, employees and alumni of the Munich University of Applied Sciences can submit their business ideas until September 18. Apply now with an idea paper for one of the three categories: www.sce.de/strascheg-award.
Apply now!