Michael Faath, PhD student at the University of Applied Sciences Augsburg, Benjamin Wöhrl and Christoph Keller, both alumni of the university, receive the EXIST business startup grant of 129.000 Euro in total. This grant is supported by the Federal Ministry for Economic Affairs and Energy and the European Social Fund. The three founders get this support to develop a product to simplify and optimize the support process for Internet Service Providers and their customers in case of technical problems. With this grant, they can work twelve months on this project, develop a business plan and prepare the establishment of a company.
The idea for this startup formed as the three were working in a research project of the Networking Group, which concerns itself with computer network technologies and applications, of the University of Applied Sciences Augsburg. The project’s main topic was “Measuring the Internet”. To build a product on basis of their research results, the founders gathered ideas, drafted sketches and wrote multiple documents, which finally led to the application for the EXIST business startup grant.
“The upcoming twelve months are going to be very exciting for the founders”, says Rolf Winter, Professor for data communications and mentor of the project. “The product they are going to develop is relevant for a very competitive market. It is important now to work on competitive advantages before releasing the product.”.