Wulf Glatz, CEO of greenTeg, Gives Advice to Entrepreneurs During COVID-19

31.03.2020 10:14, Guillaume Tinsel

As the coronavirus (Covid-19) pandemic spreads, in Switzerland and elsewhere, remote work is getting a norm. More than ever, there is a growing need to inform, connect and debate about best decisions to be taken. To continue supporting founders and entrepreneurs in this challenging period, Venturelab launched a "Corona Survival Startup Interview Series" and online webinars to enable exchanges and inspire new alternatives.

The third interview portraits Wulf Glatz, CEO and founder of greenTEG, enabling predictive diagnostics, personalized health care, and enhanced sports performance. The company offers the world’s first sensor for non-invasive and continuous core body temperature (CBT) measurements for wearable and med-tech applications. Back in 2009, greenTeg won Venture Kick stage 3 and participated in the Venture Leaders roadshow in China 2014 and in Barcelona in 2019. The startup also made it several times to the TOP 100 Swiss Startup Award, from 2011 till 2013. Wulf Glatz explains how their fever tracking solutions could help healthcare workers to track symptoms of COVID-19.



What is the impact of the Corona Crisis on your business?
Twofold. One the one hand we see a decrease and cancellation in orders from our existing photonics and building customers.  On the other hand, we are seeing a substantial increase of interest in our unique wearable non-invasively Core Body Temperature and Fever Monitoring solution. The interest is from both our existing customers who now have an urgency to complete their products and from many new viable leads.
Additionally, we have implemented everything to continue operations while complying with the rules of the Bundesrat.

What measures have you taken to make your startup survive?
Fortunately, we have a cash buffer from our revenues and a credit line backed via a federal loan guarantee program through Technologiefonds. Hence, for the time being, we are able to continue our Core Body Temperature and Fever monitoring product and business development efforts. We needed to put some projects on hold and redirected resources and set our focus on our Core Body Temperature and Fever monitor solution for medical and worker safety applications.  We see this as an important word because this can contribute to better contain or manage the current and future pandemics. I feel extremely fortunate that we have such a solution in our portfolio and we are working hard to accelerate and make this available via our partners as quickly as possible. We understand that many other startups that are less fortunate and are hit much harder at the moment. 

What is your advice for your other startup entrepreneurs?
I think my fellow startup entrepreneurs know their business much better than I and will judge the situation with all their experience. They will be supported by their partners, advisors and hopefully investors and customers. I don’t want to give this as advice but for the first time in my startup career, I don’t feel the pressure to justify our diverse business because it might save our company and more importantly we have this opportunity that we will contribute to a positive impact for society.