Our German subsidiary is making now its first step. We will be participating in the CeBIT fair in Hannover, and you can meet me at stand H17 in hall 6, from 10th – 14th of March. Also, I will present our solutions at a short seminar.
One interesting point is the finance of our start in Germany.
I have been running my business in Russia for 15 years. All of those years I worked in the investment industry, and the most advertised part of that industry is government supported venture capital and small business support. I know many key people in this market niche and I am an expert about how it works. Without surprise, I tried to get some investment and support for my business. However, every time I found that it was cheaper for me to earn money than to break through the red tape and get the support.
Now we have got support for our project, but from German government.
The German system of support for new businesses and foreign investors has impressed me by its contrast with the Russian one. We met people that listened to us, were open and clear in their offers, helped us at all stages of the process and eventually gave us the resources we needed to feel more comfortable in the beginning of our project.
We opened the office in Hannover, and the agency that is helping us is a municipal company HannoverImpuls. They provide us with one year rent-free office room and some money to cover services and equipment acquisitions for the office. Earlier they also gave some money for the legal procedures and led us to the necessary contacts for our marketing events. All in all, it was not much money. They covered about 5-6 thousand Euro of our expenses. Still, together with the contacts and their guidance, it was enough to make the entrance to the market less risky and to remove all doubt about the decision to start business in Germany.
So we are here now, and the second part of my big plan has started: Oxford and Germany. Let’s see what we can get of them.