BAVERTIS makes energy storage efficient, durable, fast and independent. To do so, they develop a software-driven battery ecosystem combined with their modular direct inverter to increase the battery life of electric vehicles by up to 80%. Their artificial intelligence uses highly accurate battery data generated from their microchip within the vehicle battery.
Bavertis had some challenges to find the right corporate partners. Additionally, a lot of back and forth communication was required regarding negotiations about IP in contracts with development partners. When it came to finding the right employees, they didn't assume that it takes quite some time as well as a lot of effort to find the right employees who have a matching skillset and a big enough passion for the product.
How the Venture Lab helped
The Ventures Lab helped in making new contacts especially to potential industry and project partners by either making direct introductions or giving the opportunity to pitch or be part of a panel discussion at different events within the UTUM ecosystem.
Advice for founders
- Have a complementary team (business & tech)
- Have responsibilities set
- Have the important topics settled before you start (e.g. distribution of company shares)