Park Here: TUM success story plans on expanding

Park Here, a young start-up company kickstarted by the Technical University of Munich (TUM), has been quietly gaining traction in the field of automated parking systems and the founders of the company plan on taking their idea to new heights.

The company’s advanced electronic parking system bases itself on sensors deployed underneath roads or parking spaces that register if or when vehicles are parked over them. These sensors are self-powered by kinetic energy generated by the pressure of vehicles on top of it, meaning that they don’t need to be charged or otherwise accessed for an indefinite amount of time, the information gathered by the sensors is then sent wirelessly to servers where it is processed and used to inform users and manage parking in the area.
According to Park Here, 30% of traffic is generated by drivers cruising for parking, by using the company’s system, drivers can know in advance which parking spots are free and reduce their cruising time considerably.

Park Here has seen incredibly growth since its inception in 2015 and its earnings as of 2017 are already on seven-digit amounts. The company has some very prestigious clients, including Porsche and BMW which purchase licenses from the company and allow it to manage parking at their locations.

The founders of the start-up have big plans for the future, constantly looking for investors and expanding both their employee team and their ability to deploy parking solutions more efficiently as well as developing new products.

The founders Felix Harteneck, who studied Management & Technology at TUM School of Management, Jakob Sturm and Clemens Techmer received intensive support from TUM, for example of the start-up consultation and UnternehmerTUM. Moreover, with Entrepreneurship Researcher Prof. Holger Patzelt they had an experienced mentor.

The post Park Here: TUM success story plans on expanding appeared first on Technical University of Munich – School of Management.

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