Start-ups looking up

The world has come a long way since Clayton Christensen coined the phrase ‘disruptive innovation’ to describe how startups with great ideas could take on the leading players by targeting parts of the market they’d overlooked, or by introducing simpler and cost-effective solutions. That was in 1997. By his reckoning some of those who took the leap in a year that saw the introduction of WiFi and an IBM computer beating world chess champion Garry Kasparov would by now have taken the market share of those leading players.

But whether they’re now enjoying world domination or simply holding their own in a competitive market, all of them, from Amazon to Zenefits, will agree that a great idea is just the start. Success lies in the execution. Appropriate funding, - often some decent guidance and a little luck with timing -all go into the mix. It was with this in mind that, in the run-up to ACHEMA 2024, DECHEMA, the Business Angels Frankfurt Rhein Main, along with the High-Tech Gründerfonds, announced the ACHEMA Startup Award to support the creators of tomorrow in paving the way for innovations in chemistry, process engineering and biotechnology.

Apart from the € 15,000 prize, the ten finalists will be able to showcase their solution at ACHEMA for one week to the international community and deliver their pitch in the ACHEMA Start-up Session on the Green Innovation Stage on Wednesday, June 12. Separately, this year the Frankfurt event will feature a new startup area, enabling companies under six years old to show how science and technology, coupled with ambition and perseverance, can be translated into new services, profitable products and the latest processes.

As one of the central anchors in the “Research and Innovation” exhibition group, the Start-up Area is the central meeting point for young companies and innovation leaders in search of synergies and collaborations, as well as for all participants interested in new trends.

Andreas Konert, Head of BD and Sales, described it as not only an exhibition and showcase area - but “a gathering place for pioneers, ground-breakers and super minds of tomorrow’s process industries” where they meet with investors, experts and decision-makers up to today’s C-suite. The ACHEMA participants are well known for their high expertise and being sticklers for detail. They will dive in deep with the start-ups, giving young enterprises priceless opportunities to earn their trust and build strong relationships for projects and business to come.

It comes amid a predicted upwave in the global startup world, one that has seen its share of highs and lows over recent years, particularly in terms of VC funding which, after a brief post-pandemic recovery, saw a 35 per cent decline in 2022, even though Series A activity in Europe bucked the trend by increasing.

As for this year, in Europe, biotech, particularly in drug discovery, is expected to see the sort of growth that climate tech did last year, all backed by an event calendar as packed as ever, from Viva Technology on Paris in May to Amsterdam’s June TNW Conference to the July Turing Fest in Edinburgh.