"In the beginning it is important to get and extract the essential information of your business case"

1.    How and why did you launch your startup?
The fundamental research for the sensing technology we are using, was established in the research group where we are doing our PhD. The inventor of this technology approached us with regard to commercialization. From the very first moment we were inspired by the idea of transferring a technology into a marketable product that fulfills the requirements of the customers. That is why we started this endeavor in October 2013.

2.    What is the meaning of your company name?
Our key compound contains the element Cobalt, so we simply merged the words Cobalt and Analytics which lead to Cobalytics.

3.    What stage of its development is your startup today? What are the next steps?
Currently we are miniaturizing the sensing technology in order to end up with a fully automated device which requires only a drop of blood from a finger prick. Afterwards we plan to develop the final product in cooperation with a production partner and then start the regulatory approval process.

4.    How is your startup positioned regards to your competitors (on the market)?
So far there is no quicktest available to determine the concentration of fire smoke toxins in blood, especially not for the most toxic component: cyanide. Even though we do not expect competition on the short run, time to market is a crucial factor because various research groups are working on this topic. A strong IP on the miniaturized technology and in the future reliable industrial partners should further strengthen our competitive advantage over competitors.

5.    Why did you apply for venture kick?
When we started this project, we immediately participated at the venturelab course. It was there, we heard for the first time about venture kick. To us it sounded like a unique opportunity to get access to first funds that are necessary to exploit the marketability and market potential of the technology/idea.

6.    Explain how the venture kick program helped you?
The venture kick program helped in various aspects. One of these aspects was the funding of essential business activities, such as e.g. visiting potential customers and production partners. Moreover, the kickers camp, as part of venture kick, is a great opportunity to uncover critical issues which have to be tackled in the business development. It is also important to mention that the people involved with venture kick have a large network which can be very helpful.

7.    How did you convince the jury?
We think we convinced the jury with the fact that we established a clearly defined case: We showed how our business has evolved, what specific advances we have made and how we plan to address problems in the future. Apart from this we gave a solid presentation and were able to answer the Q&A section proficiently.

8.    What kind of advice would you give to another young entrepreneur?
In the beginning it is important to get and extract the essential information of your business case: What is your unique selling proposition? Where does your product address a real customer problem? You have to build a crystal clear business case around this information and need to define a strategy which can be realistically pursued. This in combination with the right people on board (maybe one of the most important points) is definitely a good starting point.

9.    Why would you recommend the venture kick program to other startups?
Venture kick provides initial funding, a great network and longstanding experience in the Swiss startup scene. The application to this program, which is not a contest in its actual meaning, is easy and quite rewarding since you have a 50% chance of winning at each of the three stages.

10.  What do you think is the impact of the venture kick program on the Swiss startup industry?
The venture kick program has an immense impact on the Swiss startup industry which is mirrored in the fact that almost all startups in Switzerland are participating in this program. The network of venture kick connects a variety of very successful and yet to be successful Swiss startups amongst each other. This guarantees for an active exchange of knowledge and improves the overall quality of Swiss startups.