Revolution of the Fashion Industry | Michael Hofmannrichter

The rollercoaster ride of founding

Theoretical knowledge must meet practical experience. While studying at the SIMC Master at WU Vienna, Michael co-founded his company with two close partners & friends. 6 months later, the team collected > € 450,000 in grants to finance their first prototype to fully automate the production of clothing. In January 2023, the first tank tops will be produced.

However, it took the team more than 2 years of prior development, bootstrapping, long hours & shared passion to reach their current stage. Constant ups-and-downs defined Michael’s entrepreneurial journey. 

Business Dev & Finance

Michael previously worked for the private equity holding B&C in Austria, where he was responsible for the sustainable fiber producer Lenzing AG. Previously, he worked in the mobility sector at Porsche AG (E-Performance Management) and ÖBB (Business Development). Michael brings a broad knowledge and network across the entire value chain of textile processing. At silana he takes care of all business matters, reaching from strategic development to financial modelling.

Early-Stage Funding & Full Transparency

Michael knows about the challenges of being a founder. With the students from the MBA Entrepreneurship & Innovation program he shares his unembellished experience of founding his first company. Money is always an issue, which is why he shares his tips & tricks to benefit from Austria’s outstanding grant system.

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