BAFA-Invest: How ink&'s Rejection in the Second Round Became an Acceptance

ink&’s first application for the BAFA-Invest program was rejected. What was required was an innovation report reviewed by PwC, for which founder Felix had neither the time nor the experience. nxt milestone created the report, and on the second try, the startup was directly admitted to the program.

In an interview, Felix provides insights into the history of his company and the collaboration.

That’s ink&

ink& is the digital platform for tattoo artists. Designs from a wide variety of tattoo artists can be purchased as stickers, clothing, or art prints. This has successfully entered a conservative market, where even the established brand Edding has failed.

When and how did you come up with the founding idea, Felix? How does your business model work?

When the 1st lockdown began in the course of the Corona pandemic in 2020, tattoo artists in my circle of acquaintances were no longer allowed to work because it’s a personal service. So the question arose for me: How can we help these people? We came up with the idea for a print-on-demand shop. At the beginning, we were able to establish a cooperation with a printing company and achieved above-average revenue right from the start. In the meantime, we work with over 250 artists who support us through their reach on Instagram.

What was your biggest fuck-up?

Bureaucracy in Germany for various processes is a constant challenge. Just obtaining a VAT ID can take weeks and significantly delay company launch. Also, the image of entrepreneurship in the media is often too glorified. There is little discussion about how exhausting the entire process is and how much effort it requires. A good team at my side and focus on my own endeavor have always grounded me and made positive business development possible.

The Challenge

In startup life, every step counts, but ink&’s first application for the BAFA-Invest program was rejected. For the startup, this meant creating a complex innovation report, for which neither the necessary time nor the corresponding experience was available.

Our Solution

We took on the task and created the required innovation report. Through the convincing presentation of ink&’s innovative business model, we succeeded in successfully admitting the startup to the BAFA-Invest program on the second try.

“External support and consulting should not be underestimated. The collaboration opened new perspectives on our own business model, which we immediately incorporated into our pitches.”

How did nxt milestone help and support you?

External support and consulting should not be underestimated. Our application for the BAFA-Invest program was initially rejected, and the submission of an innovation report reviewed by PwC was required. Since we were very tied up with time and lacked the experience for the report, we approached nxt milestone. The collaboration opened new perspectives on our own business model, which we immediately incorporated into our pitches. Thanks to nxt milestone’s innovation report, we were directly admitted to the BAFA-Invest program on the second try.

The Impact

With admission to the BAFA-Invest program, ink& was able to further expand the digital platform and establish collaboration with over 250 artists.

What are you particularly proud of in retrospect? What were your biggest successes?

That’s not easy to say. For us, it’s a great success to build an idea in a difficult market environment and continue to develop it over a long period. Continuous work with partners and artists. We remained authentic and were able to develop personally and grow organically. The positive feedback from our environment gives us additional momentum and shows that we’ve done quite a few things right.