Introducing Movopack
Q: What is your company about?
A: Movopack is all about creating a more sustainable and convenient experience for e-commerce businesses and their customers. Our big idea comes down to two main innovations. The first is our catalog of reusable packaging products. We’ve designed these packages to be used repeatedly, not just once, then tossed.
Secondly, we’ve put together a slick retro logistics system, making it as easy to return the packaging as it is to send a postcard. Seriously, each product folds into a small envelope and comes with a prepaid shipping label. All the customer has to do is drop it in any mailbox in Europe, and it makes its way back to us.
We’re already up and running across Europe and looking to break into the U.S. market in the coming months. The returned packages are sent back to the e-commerce businesses to be used again, closing the loop in a really neat way. We’re not tied to any one production plant; we source the best materials and designs from all over the globe to bring this vision to life.
Why Techstars?
Q: Why did you decide to apply to Techstars?
A: For us, joining Techstars was all about three key things. First up, we were super keen on the fundraising opportunities. Who wouldn’t want access to a vast network of VCs and angel investors, right? That was the initial hook for us.
The second reason was all about expanding our business. We started off in Italy and recently launched in the UK. With Techstars, we’re talking about growing in other European markets like France and Germany. Their support is like jet fuel for our commercial expansion plans.
The last reason was about fine-tuning our operations and user experience. Techstars connected us with mentors with the know-how to help us optimize these areas. So it was fundraising, market expansion, and operational improvement—those were the big wins we were after, and Techstars delivered.
Techstars Application Process
Q: Can you walk us through the application process?
A: The Techstars Sustainability Accelerator had us talking to three different people. First, we had a couple of calls, and the final step was meeting face-to-face in Paris. They asked what any VC or accelerator would typically ask you.
If I could give some pointers to other founders, the first thing Techstars is really into is your team. They want to know roles, responsibilities, and why each person is the right fit for what they’re doing. You’ve got to treat this like a job application. Show off your experience and skills, and make them shine.
The second big thing they look for is proof of market interest. Whether it’s active clients or just positive market responses, they want to see that you’ve got more than just a good idea—you’ve got to show it’s working out in the real world.
Overall, the whole process was pretty smooth for us. I’d say it took less than a month from the first call to getting the green light.
Life Into Techstars
Q: What does the Techstars program look like?
A: We were in a hybrid program, so it’s not like you’ve got to be there in person all the time. We had two in-person weeks—the first and last weeks of 13 weeks. You’re all in during those weeks—no time for anything else but the program. During the weeks we had to work remotely, about half our day was taken up by Techstars activities—calls, listening to successful founders spill the beans, and connecting with folks in the network. It was demanding but also flexible.
That format was a lifesaver for us. It meant we could still keep the wheels turning at Movopack. My big worry was putting everything on hold for three months to focus solely on Techstars stuff, like shaping the company and fundraising. But the way they set it up, we could keep juggling our daily operations while soaking in all the Techstars goodness. It was intense, but it let us keep the ball rolling, which was crucial.
Q: Did you also have access to mentors?
A: Mentorship is huge in Techstars. There’s “Mentor Madness,” which is like speed dating but with potential mentors. You’re talking two full weeks, just meeting people back-to-back. For us, that was 96 potential mentors in just a few days. You pitch, you ask questions, and you gauge if there’s a long-term connection. After that, you get to cherry-pick. Five mentors helped us in everything, from marketing and sales to people management.
But it doesn’t stop there. Those relationships keep going, and Techstars keeps delivering value. In the last month, you prepared for pitch day. You work on condensing your whole startup journey into a 3 to 5-minute pitch aimed at potential investors.
Then, to cap it all off, there’s this massive networking day. Startups are the stars of the show. You meet everyone: investors, other mentors, and even potential clients. It’s a networking bonanza, making the whole experience worth it. The program’s as good as what you make of it, all the way to the end.
Q: Did you get funding through the program?
A: Techstars was a game-changer for us financially. We were right in the middle of a fundraising campaign during the program. We closed a pre-seed round while we were in Techstars. It was huge for us.
Unlocking Value Beyond the Dollar Signs in Techstars
Q: What are the biggest benefits that you get from the program beyond money?
A: Money’s big, no doubt, but it’s just the tip of the iceberg. For us, the mentors were invaluable in helping shape our sales and marketing strategy. To be honest, we had some weak spots there. But thanks to the guidance we got, our sales have seen a major uptick since May. Sure, it’s not all thanks to Techstars, but they definitely played a significant role in that growth.
Q: Did you have any aha moments during the program?
A: We were already out there in the market with some traction when we joined, so I can’t point to a single “aha moment” for us specifically. But what got me was watching other founders who were maybe a step or two behind us. The transformation they went through in just 10 weeks was mind-blowing. They got a massive boost in the right direction from Techstars, completely reshaping their businesses. That’s like saving months or even years of trial and error. Just seeing those changes unfold right in front of me was super inspiring. So, while it’s not a single story, that collective shift was pretty darn interesting.
Current Focus and Future Plans for Movopack
Q: What’s the status of the company today?
A: Right now, we’re all about growth. Our eyes are set on ramping up sales and expanding, especially looking to make a strong entrance into the French and German markets in 2024 and the US market in 2025. The game plan for the next 6 to 9 months, is to gunning for consistent revenue growth.
We have been approached by a number of companies looking for circular packaging solutions in many untouched verticals of application, such as physical events, Consumer-to-business logistics, or physical retail stores and we are building ad-hoc solutions for each one of them. It’s clear to us that we are working in a space with almost unlimited growth potential.
Q: Have you tried any growth channels yet?
A: We’re a B2B company, so direct email has been our bread and butter. It’s been working wonders for us. We’ve onboarded more than 60 brands, and most of them came through direct contact through email or Linkedin. We’re also super excited about a new collaboration with Italy’s leader in the retail of swimsuits and lingerie. But, we’re not stopping there, and we have kicked off a LinkedIn strategy to pull in more clients. Even though we’re still young, we’re constantly trying out new avenues for growth.
Final Tips
Q: Do you have any final tips for founders considering applying to Techstars?
A: If you’re considering applying, don’t just show up half-heartedly. Show that you’re all in. It’s not about looking interested; it’s about showing them that this is what you need and are willing to fight for. Come in with confidence and conviction, and make it clear you’re there to get what you came for.