Unicorn – this term has emerged for a startup company with a valuation of over 1 billion dollars. Companies like Spotify, Airbnb and Uber – their success stories inspire a generation of entrepreneurs. They are eager to develop new products and services that disrupt established industries - and in doing so, turn their small startup into the next unicorn. The availability of cheap computing power and the relative ease of access to financing is fueling this trend further.
So when the startup conference Bits & Pretzels opened its doors, it came as no surprise that over 3,600 entrepreneurs, venture capitalists and other people from the start-up eco system flocked to Munich’s trade fair center to listen to industry thought leaders and exchange their ideas. Among them: several Allianz representatives. A well-established global insurance company with 125-year long history and some 147,000 employees at a start-up conference – how does that make sense?