Sebastian Spitzer: Empowering the Future through Tech Investing and Intrapreneurship
I had the pleasure of interviewing Sebastian Spitzer. Sebastian led Innovation Management in 3 verticals before becoming a corporate intrapreneur in the automotive industry in 2017, where he created numerous in-house startups, going through ideation to scale-up stages. Currently, he is a venture specialist for emerging technologies at Schaeffler and manages start-up ecosystems for partnering and investments.
Since 2018, he is investing with an emerging tech VC focused on web3 and managing early-stage deal flow. To support the startup community, he mentors young entrepreneurs in deep tech and automotive and has helped two web3 companies grow from inception to 200m+ market caps. Currently he is mentoring founders at Santa Clara University and the Blockchain Founders Group on fundraising, go-to-market and scaling strategies.
How did you break into entrepreneurship and tech investing?
I have always liked creative work (and numbers, which is sort of contradictory) and after a short stint in marketing, I became an Innovation Manager. My journey into start-up ecosystems commenced with scouting bleeding edge technologies in the automotive industry back in 2016/2017. Once you follow down the rabbit hole, it is hard to go back, as it is incredibly inspiring and humbling to work with the brightest and most progressive young leaders.
I started educating myself about investing back in 2016 and joined a VC in the web3 vertical to manage deal flow from sourcing to deploying. Today, I work with the Schaeffler investment team on sourcing and due diligence of startup partnerships and investments in the automotive space.
What is it that excites you about investing?
The most exciting part is shaping the future by supporting great founders. I love the challenge of creating your own thesis of how the world looks in 5–10 years and which products or technologies will shape it. As technology evolves, so does your vision.
For me it is the ideal combination of being creative (innovation) and analytical (business metrics) while constantly questioning the status quo and depicting a future version of the world.
What has been your biggest challenge when it comes to finding the “right startups”?
Time! It is inevitable to miss out on opportunities due to time constraints. According to a report by the Global Entrepreneurship Monitor, an estimated 400 million new businesses are created worldwide each year. I am unsure how accurate that number is, but it shows the dynamics of the space.
I usually prefer to meet in person as body language, and gestures give great insights into people. Ultimately, you invest in people, especially in early stages. Global exposure, different time zones, and digital first approaches make that challenging, but at the end, it is about finding the right compromise when making a decision since “the perfect deal” hardly exists.
What major trends do you expect to see in technology innovation over the next 5 years that excites you?
AI AI AI . Not sure if I mentioned AI.
The current pace of disruption and technological advancement is incredible. It will be interesting to see what happens when the hype for AI fizzles off. Is the hype warranted? Absolutely, because the technology transcends all verticals. Is it overhyped? Absolutely, when all everyday conversations hover around buzzwords, we are closer to a top than a trough.
Some of the pre-product, pre-revenue valuations right now will inevitably lead to disappointment, latest when founders and investors realize that solutions can’t be delivered, are way too expensive to scale or are simply not needed.
That being said, we are looking at a new foundational layer to fuel the next industrial revolution, uplifting global productivity. Aside from that, one of the biggest trends on my watch is the convergence of technologies. I am monitoring developments in deep tech, 3D printing, enterprise software, mobility and sustainability and see more and more interdependencies and cross-linkages.
If you had to share, “words of wisdom,” with a Founder who’s about to start their own startup, what would they be?
Make sure you are doing something you love and can sustain doing for the next 5 or 10 years. Don’t be fooled by short-lived trends and hype cycles. Sure, playing into an “en vogue narrative” makes fund raising easier (see AI in 2023), but consider that you might be stuck with your idea for multiple years.
Get advice, feedback and mentored as soon as you can. There’s nothing worse than ivory tower developments. Don’t be too proud or stubborn to take help and accept direct feedback even if it means to pivot or pull the plug before burning (your) health and money. Investors won’t validate your solution and PMF for you, but they can give great pointers on how to do it.
How can our readers follow you on social media?
Happy to connect on LinkedIn:
https://www.linkedin.com/in/sebastian-s-253502159/
This was very insightful. Thank you so much for joining us!
