New venture kick jury member Michael Schmitt: «You've got to get the Elevator Pitch right»
10.07.2012
Michael Schmitt can look back on an eleven year long career at Google, most recently as Engineering Director in Zürich. Today, in addition to being with the Early Investor GO BEYOND, he is the newest venture kick jury member. If you want to know more about his life story and why his kids keep him on his toes, then continue reading this interview.
 Michael Schmitt with an other kind of investment – his children.
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«You spent a considerable portion of your professional life at Google, first during several years at the Headquarters in Silicon Valley and then as one of the masterminds behind the Zürich office. What prompted you to leave Google?»
Michael Schmitt: «The thing that I really appreciated at Google was the startup-culture that the company was able to maintain for such a long time. Understandably, this isn't as pronounced as it used to be, hence my reorientation. Google however remains a great company and I continue to cultivate close ties.»
«What areas do you find particularly interesting as an investor?»
Michael Schmitt: «I'm interested in innovative web-services with a strong technological component. This is also the area in which I have the most expertise.»
«Berlin has done a great job by positioning itself as „Startup Valley“. London as well in this regard, seems to be beating Switzerland to the punch. Can Switzerland, which is already known as an innovation-cluster, continue to step up its game?»
Michael Schmitt: «Different locations have different advantages. Berlin obviously has a strong advantage in terms of costs per employee. Swiss locations however, distinguish themselves through excellent access to local capital and in some cases – especially in B2B – profit from very good starting positions.»
«Go Beyond is also present in Poland, Italy and France – how is the market developing itself over-there?»
Michael Schmitt: «The networking between different Angel Groups in Europe within Go Beyond has been very successful and has enabled us to have a higher deal flow then what one could expect otherwise. I especially see good ideas in France.»
«What are the main arguments that you consider when investing? What tips can you pass along for startups which are in the process of securing their financing?»
Michael Schmitt: «The thing which is important for me is a strong and comprehensible product-orientation. You've got to get the Elevator Pitch right. However, it doesn't end there. If you're able to convey a coherent overview of your project in five to ten minutes, than you'll already have achieved a lot.»
«You have just experienced the last two rounds at venture kick. What is your impression?»
Michael Schmitt: «It has really been fun so far. The quality of the presented business ideas was higher than expected. I'm looking forward to participate again in the future.»
«Investors usually love risk and have to keep their testosterone levels high. Is that something you also do outside of your business life or are you more of the „laid back“ type in private?»
Michael Schmitt: «I'm currently helping my wife to organize consecutive birthday parties for our son and daughter. While I don't need that much testosterone for that, I do get to see more than enough action...» (laughs)
«You are originally from Munich, which is known as one of the most beautiful German cities. Be honest – what, in your new home Zürich, which you know since 8 years, is even more beautiful?»
Michael Schmitt: «Clearly the lake. On the other hand, I do miss the beer-gardens here...»
«Dear Michael, thank you for answering our questions, we look forward to your next venture kick session!»
Michael Schmitt: «The thing that I really appreciated at Google was the startup-culture that the company was able to maintain for such a long time. Understandably, this isn't as pronounced as it used to be, hence my reorientation. Google however remains a great company and I continue to cultivate close ties.»
«What areas do you find particularly interesting as an investor?»
Michael Schmitt: «I'm interested in innovative web-services with a strong technological component. This is also the area in which I have the most expertise.»
«Berlin has done a great job by positioning itself as „Startup Valley“. London as well in this regard, seems to be beating Switzerland to the punch. Can Switzerland, which is already known as an innovation-cluster, continue to step up its game?»
Michael Schmitt: «Different locations have different advantages. Berlin obviously has a strong advantage in terms of costs per employee. Swiss locations however, distinguish themselves through excellent access to local capital and in some cases – especially in B2B – profit from very good starting positions.»
«Go Beyond is also present in Poland, Italy and France – how is the market developing itself over-there?»
Michael Schmitt: «The networking between different Angel Groups in Europe within Go Beyond has been very successful and has enabled us to have a higher deal flow then what one could expect otherwise. I especially see good ideas in France.»
«What are the main arguments that you consider when investing? What tips can you pass along for startups which are in the process of securing their financing?»
Michael Schmitt: «The thing which is important for me is a strong and comprehensible product-orientation. You've got to get the Elevator Pitch right. However, it doesn't end there. If you're able to convey a coherent overview of your project in five to ten minutes, than you'll already have achieved a lot.»
«You have just experienced the last two rounds at venture kick. What is your impression?»
Michael Schmitt: «It has really been fun so far. The quality of the presented business ideas was higher than expected. I'm looking forward to participate again in the future.»
«Investors usually love risk and have to keep their testosterone levels high. Is that something you also do outside of your business life or are you more of the „laid back“ type in private?»
Michael Schmitt: «I'm currently helping my wife to organize consecutive birthday parties for our son and daughter. While I don't need that much testosterone for that, I do get to see more than enough action...» (laughs)
«You are originally from Munich, which is known as one of the most beautiful German cities. Be honest – what, in your new home Zürich, which you know since 8 years, is even more beautiful?»
Michael Schmitt: «Clearly the lake. On the other hand, I do miss the beer-gardens here...»
«Dear Michael, thank you for answering our questions, we look forward to your next venture kick session!»