Franz Wyss, when did you realise that you could not go on without investors?
As founders of Ticketino AG, Patrick Walgis and I have invested a great deal of time and money in developing the first self-service, 100% internet-based invitation and ticketing platform. After finding our first customers and realising projects, we spotted a great need in the market for an intelligent, cost-effective and highly automated “no frills” solution. Since we had decided to focus on the long tail that was mainly based, so far, on solutions that were not automated, we realised that it takes a certain amount of pressure and therefore money to generate broad interest.
How did you go about conducting your search?
We did the same thing with the acquisition of funds as with the search for customers; we contacted well-known investors in Switzerland and Germany. With desk research and a great many conversations, we tried to find out who among the potential investors would be a good fit and which institutions focus on early-stage or bridge investments. To do this, we wrote to the companies and institutions and sent a professional Proposal to Invest and Executive Summary. We then arranged appointments and introduced ourselves and our product to the interested parties in person.
What kind of experience did you have?
The experience was positive throughout. We met lots of interesting people from the venture sector, received useful advice and benefited from the various presentations to the institutions and investors.
How time-consuming and stressful was the whole process for you?
The search took some six months once we had prepared the business plan, executive summary and proposal to invest. Just like selling to customers, you generate leads and follow them up until the interests are congruent.
How did Technopark Luzern support you?
I still remember clearly the first contact with Technopark. Charles Keusch was pretty soon convinced of the product, the strategy and the team and opened the door to the Luzerner Kantonalbank (LUKB) investors for us.
How did the solution come about?
We presented ourselves and our platform www.ticketino.com at various meetings with Technopark and LUKB Wachstumskapital AG. We soon realised that people were interested in Ticketino as well as in the team. Finally, we presented ourselves to the LUKB’s Steering Committee and were awarded 50% of the planned investment. The other tranche was financed by ZKB, with whom we had arranged mezzanine financing, which was later converted into equity.
What would you do differently today if you were starting out again on a search for outside capital?
Of course, the process would take less time, as we have built up a degree of know-how and relationships with investors. In principle, though, we would do the same again. I think tracking down investors – as with so many things – is also down to hard work.
What tips would you give young entrepreneurs looking for capital?
Three things have to be right: a good product with a compelling strategy; high-quality, detailed plans and documents (business plan, management summary and proposal to invest); and a powerful, experienced team with complementary skills. And perseverance!
Ticketino is the invitation and ticketing platform of tomorrow. 100% internet-based and self-service. Organisers of business and public events benefit from unique advantages thanks to a wide range of services on terms that are transparent and incredible value for money. Cheaper for organisers, cheaper for customers. www.ticketino.com
