Upgrade for walking sticks: This is what came out of the DHDL deal with Steets – and Grandpa Heinz

RTL / Bernd-Michael Maurer

"Just like I tuned my moped back then, you can now tune your walking aid with Steets" – this is how the founding trio's pitch begins. Shortly before, Heinz Schlechtingen, the grandfather of founder Phil Janßen, had demonstrated an everyday problem with a brilliant acting performance: What do you do if your walking aid falls to the ground and you can't bend down to pick it up?

Janßen, the creative mind behind the three founders, recognized the problem back in 2013 based on situations he observed in everyday life among family members. In 2019, he began to solve it. The founding team, with Grandpa Heinz in tow, presented their self-developed parking aid on the Lion's Den.

What looks like a camera tripod with four legs can be mounted on any standard walking aid in under three minutes. This allows you to place the walking aid anywhere without the risk of it falling to the floor.

But the Lions' first question is for Heinz Schlechtingen: How do you stay so fit and clear-headed as you age? Schlechtingen's answer: "They can do anything they want. They can even drink. There's just one thing they're not allowed to do: die."

Schlechtingen has now celebrated his 99th birthday, as Gründerszene learns from founder Janßen: "Grandpa is doing great," says the Cologne native. He has the following to say about the day of filming itself: "Grandpa said he'll only come along if it helps us and he doesn't want to be the center of attention." Nevertheless, it was quite an adventure for him in his otherwise routine everyday life – and it was worth it.

Read here how Grandpa Heinz helped the three founders practice their pitch before their performance, what he said when he saw the episode for the first time – and, of course, what happened to the deal after the show.

The oldest contestant ever to appear on the show is dismissed with applause. The Lions' round begins with great praise. Later, however, the mood changes. Frank Thelen is enthusiastic: "This is one of the most elegant solutions I've ever seen, implemented spot-on. And yet it's actually such a trivial problem."

Battisti, Engel, and Janßen demand 300,000 euros and are willing to give up 15 percent in return. Janna Ensthaler shows interest and asks: "Your sales must be phenomenal if you're demanding 300,000 euros?" The answer sparks a debate and ultimately leads to all but one of the Lions dropping out.

Up until the time of recording, Steets had generated €60,000 in sales in six months. Williams therefore finds the six-figure valuation incomprehensible and doesn't see a market for herself. She's therefore out. Maschmeyer and Ensthaler agree. They also think the valuation is too high. Did the founders gamble too much?

Dümmel wants to "take a look at the part." And Thelen is also still in the running. He asks about the patent. It hasn't been granted yet, but the patent law firm is working on it, Janßen replies. The founders now justify the valuation and demand of €300,000 with a previous financing round in which the production partner already invested €550,000 in the startup. Thelen then sees the startup's independence at risk. According to him, a production manufacturer who is also involved never offers the best purchasing conditions.

The product costs €48.95 for end customers and €27.70 for rehabilitation clinics and medical supply stores. The cost of the support for the walking aid is €18 to produce, with the prospect of increasing to €12 with increased production.

Product king Dümmel is taking issue with the selling price. Although he believes in the product, he sees problems with its marketing. He, too, is leaving "with a heavy heart."

Thelen makes a counterproposal to the requested conditions: He wants equal rights alongside the existing investor and 100 percent transparency in production. Since he would help build the company and its marketing, he demands 25 percent for €300,000.

Battisti, Janßen, and Engel are withdrawing. They are trying to negotiate a 20 percent cut for €300,000, tied to milestones. But Thelen remains firm: "Sorry, I don't deal with milestones with you."

For a moment, the deal was on the brink, but then the three guys struck: 25 percent for 300,000 euros.

Currently, you can buy one parking aid for €48.95 and two for €84.90 on the Steets website. When asked whether a deal has been finalized, both parties responded: "They are in negotiations."

Janßen elaborates a little: "We are currently in the due diligence phase and in ongoing contract negotiations. Details remain confidential, but the exchange is constructive."

“The next steps for Steets are, on the one hand, to become better known throughout Germany and, at the same time, to drive forward internationalization,” says founder Janßen.

At the same time, Steets has made progress in the care process. "Our storage aid has received an aid number. Inclusion in the aid directory has been confirmed," Janßen explains. Experience has shown that visibility on the online portal takes time.

This means that the parking aid can be co-financed by statutory health insurance in the future. Steets' website states: "Usually with a doctor's prescription and after approval (a statutory co-payment of usually €5 to €10 is common)."

Jenßen also announces: “Let’s just say this much: We’re already thinking about the next smart everyday helpers.”

Janßen doubts whether his grandfather truly realized the significance of the pitch. However, he does want to emphasize one thing: When practicing, his grandfather had other priorities. "Two rehearsals are enough, right? I've baked you pancakes, they can't get cold!" he is said to have said.

And when he saw the episode for the first time, Grandpa Heinz's reaction was apparently positive. "He said, 'The main thing is that it helps people! Because it does; you've developed a truly great product!'" Janßen recounts. He only added: "Grandpa wasn't just a prototype tester from the very beginning, but he uses the parking aid every day and is probably our most popular salesperson."