Sustainable investments – flexible response
- Cedric Lehmann, Felix C. H. Maduakor
MLCrypt helps companies to implement blockchain projects and realises its own projects in this field. The start-up’s largest blockchain project is the Social Impact Network. Its purpose is to make impact investment more tradable and transparent. To date, investors in clean energy products such as solar plants have been tied to their investment for the long term; thanks to blockchain technology, they can trade it at any time.
What do you think are the advantages of a start-up?
We consider independence and flexibility to be the greatest advantages of starting your own business. You are independent, can follow your own convictions in making decisions and can implement them quickly. By founding the company, we were able to turn our hobby into a profession. At that time, the blockchain sector was still quite small and it would have been difficult to find a job there.
What were the main hurdles?
The most difficult thing was the transition from a funded project at the university to self-employment. This was the first time that anything entrepreneurial came our way – from bookkeeping to management. The main hurdle was financing. Fortunately, we found the right funding and were able to start our business.
Do you have any tips for you fellow founders?
We tend to plan and work everything out meticulously. While this can make a lot of sense in the preparation phase, in the operational business and in product development it is important to put practice first. This is perhaps one of the biggest obstacles, especially for teams from a university background.
- Innovation award 2017 from Gesellschaft für Innovation und Technologie at RUB
- winner of the funding competition “Start-up-Hochschul-Ausgründungen NRW”
- participation in the European accelerator “DLT4EU”
- winner of the BMBF funding competition “Gesellschaft der Ideen”