Founder of the month: LIFTWISE
15.11.2024
Aline Kinzie
Founder of the month
What will gyms look like in 50 years? If it's up to the founders of LIFTWISE, it will definitely be smartly equipped. The KIT startup has developed a system that can measure and coach strength training - with the help of a minimalist wristband and NFC tags on the weights. Instead of having to track your values yourself, LIFTWISE does it automatically and also provides feedback on the correct execution of the exercises. The digital workout partner: Our startup of the month for November!
What does your company stand for?
Liftwise makes recording your entire strength training routine easier than ever, providing motivation and assistance anytime and individually – just like a personal coach. The only difference is that a personal coach costs €100 per hour, while Liftwise costs €15 per month.
Where and how did you come up with the brilliant idea to found the company?
The idea started in the gym after I had been training seriously for a while and regularly entered my training progress by hand into a mediocre app. I was convinced that there had to be a better, even automated solution to make my progress visible.
How did the founding team come together?
My co-founder Moritz and I met at the Student Innovation Lab (SIL). After our first meeting, we sat down together that evening over a beer and philosophized about various ideas and business models. After half a year in the SIL, it was clear to us that a startup could arise from Liftwise – and that’s exactly what happened. When we later applied for the EXIST start-up grant and had more than enough work packages on the table, we decided to bring a third person on board. After all, the EXIST grant supports up to three founders. Our search at co-founder dating events was unsuccessful, but we finally met Madita through a contact at the She Codes university group. Her communication skills and motivation, as well as her qualifications as a medical IT specialist, were a perfect match.
Where do you see the hurdles in the founding process?
There is a lack of mentoring by successful founders/ex-founders. Basically, no one explains how to strategically and quickly check and hopefully find a product-market fit, but at the latest after enough pivots. This should be the ultimate goal. In this context, in my opinion, you shouldn’t get lost in side quests and appear at every publicity or pitch event.
Where did you get support?
You can’t replace good lawyers, however much you might want to sometimes. We received support with our EXIST application from the Gründerschmiede. We are also very grateful that Prof. Dr. Hohmann from the Student Innovation Lab was always willing to lend an ear when we needed support. That’s how we got our office, for example. The name KIT can open doors for many things. But you still have to build the network yourself.
What was the biggest challenge during your founding phase?
It is always the challenge at hand.
Has anything changed for you since the formal founding?
Founding a company usually involves financial matters such as raising money, selling shares or sales cycles. This is associated with obligations, including legal ones. The pressure on a founder certainly increases immensely. Kindergarten is over, dear friends! But that’s a good thing! We look forward to this challenge a little because we firmly believe that market pressure is essential to being successful in the market.
What are your next big milestones in the next 12 months?
In a year, we want to be represented in at least three gyms.
What qualities do you think a founder should have?
Proactivity is irreplaceable. A good attitude towards mistakes and an unconditional willingness to learn.
From today’s perspective, what would you do differently?
Fewer side quests, but more hypothesis testing and sales attempts.
Thank you for answering our questions!
PODCAST
Listen in to the podcast episode with Titus, one of the founding team. Daniela talks to him about the founding story, plans for the startup and the fitness studio of the future.
