Antler brings day zero investing to Munich

We’re thrilled to bring day zero investing to Munich as we open the doors of our new office and host our first founder residency in September 2023. After having been in the DACH ecosystem since 2021, it was clear that adding an office in Munich would only be a question of "when"-not "if". Antler's new Munich office will plug right into this dynamic ecosystem and be well-positioned to support the next generation of entrepreneurs in Central Europe. We look forward to seeing what exciting new ventures emerge from this city!

Antler brings day zero investing to Munich

Antler brings Day Zero Investing to Munich

We’re thrilled to bring day zero investing to Munich as we open the doors of our new office and host our first founder residency this September.

Here’s why we are excited to expand to Munich:

  • Entrepreneurial ecosystem. Venture capital firms such as HV Capital, Picus Capital, and UVC Partners, and university initiatives such as UnternehmerTUM and the Center for Digital Technology Management are all based in Munich. Impressively, CDTM alumni raised $1.178 billion in funding in 2022, representing 11% of the total VC funding flowing into German startups in that year. In 2022, 215 startups were founded in Munich, ranking the city first in Germany in terms of density. The results are equally impressive: breakout companies like Personio, Celonis, or IsarAerospace were all founded in Munich.
  • Universities and research institutes. Munich is home to two of the best and most prestigious universities in Germany—TUM and LMU—with over 100,000 students between them. TUM has a strong focus on engineering, technology, and natural sciences with over 38,000 students in these fields, making it an excellent source of entrepreneurial talent. Renowned scientific institutions such as Helmholtz Institute, Fraunhofer Institute, Max Planck Institute, and Leibniz Institute, call Munich their home. Nearly 20% of Munich's startups collaborate with scientific institutions.
  • Big tech and public actors working hand in hand. Munich has always been Germany’s foothold for international technology companies: Microsoft, Google, Apple, and Amazon all have their HQs in the city. Apple recently announced that it will invest one billion euros over the next six years to build three more R&D facilities in Munich. German corporations such as BMW, Munich Re, and Allianz are here as well, providing a great talent pool and opportunities to partner. Further, the city's public initiatives—including a 3.5 billion investment by Bavaria to support talent acquisition and new technologies such as AI and greentech— have made Munich an excellent location for startups.

All of these factors, as well as the amazing quality of life make it a great place to build. Austria and Switzerland are close by, mountains and lakes are also near, and of course Munich is the home of the world-famous Oktoberfest, a not-to-be-missed cultural experience.

Antler's new Munich office will plug right into this dynamic ecosystem and be well-positioned to support the next generation of entrepreneurs in Central Europe. We look forward to seeing what exciting new ventures emerge from this city!

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There are tons of different frameworks on what makes a good business idea. However, there is one point in particular that is tough to crack: “What if [Google] does it?”—i.e., if the big incumbent that is playing in the same or an adjacent market uses their vast resources to copy you, what chance do you even have? This is what in German we call a Totschlagargument, which in our loving and peaceful language translates roughly into “the argument with which you can beat anything to death”. And it is easy to dismiss the question because in so many cases startups have prevailed against much larger incumbents. But I believe a more nuanced view is needed. In reality, these incumbents pose a legitimate threat in many cases and they have ended countless hopeful startups. I discuss this topic frequently—both with founders considering whether to dedicate a decade of their life to something, and with colleagues when we’re thinking about being the first investor—but haven't found a great framework. Here are the key questions that help me wrap my head around this:

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