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Austrian Maximilian Schnödl last came to attention in January 2020 when, according to the brutkasten, he sold the Springbrook Software company that he ran for a triple-digit amount to investor Accel-KKR in Silicon Valley.
Maximilian Schnödl is now returning to Austria, as Director and Authorized Signatory of ÖBAG, together with Christine Catasta, who was recently CEO of PwC Austria. In front of the brutkasten, he explains how Springbrook fared during the crisis, how his involvement with the Federal Computing Center and the Austrian Post worked, and what he is planning in his new position at ÖBAG.
We spoke last time shortly after the sale of the company. what’s new?
Maximilian Schnödl: Much and very little at the same time. On the one hand, Covid-19, of course, has caused enormous disruption, especially in the US The pandemic has shown how important it is to have well-functioning municipal and district administrations in the event that centralized crisis management fails. . The vital role of government technology (“GovTech”) is now universally recognized, for example when it comes to filling official online channels.
It seems that many things have changed. What has stayed the same?
Maximilian Schnödl: As a cloud software provider, we were able to turn our entire operational business into 100% virtual work routes overnight, which means that we have been completely focused on the home office since March and therefore no longer have to change our physical location. Each employee can now spend much more time with the family, but they have far fewer opportunities for team building and overall freedom of movement. And we do not know when this situation will ease in the United States, which is much more delicate than in Austria.
What did you learn as a GovTech company from the Corona crisis?
Maximilian Schnödl: In times of crisis it is extremely important to know what your priorities are and, from my point of view, these are clearly employees and customers, in that order. While many market participants have reduced costs, we have been able to come up with a detailed action plan that has allowed us to invest even more in 2020 than originally planned. Externally, our focus is on “customer success,” that is, supporting America’s cities with advice and action through the crisis. This happens, for example, through online training on current affairs and tailor-made coaching. Today, more than ever, we see ourselves as a partner that can selectively select the “best practices” from the market and pass them on to all our clients.
How did the corona pandemic affect your growth?
Maximilian Schnödl: We are in the fortunate position that in these difficult times we can not only add a little added value to society, but we can also continue to grow profitably. We support over 1000 US cities the size of Klosterneuburg, Villach or Feldkirch with our software. Obviously, it is much more difficult to find new partners at the moment, but today’s citizens trust our GovTech solutions more than ever. Transactions on our online payment platform, for example, grew by as much as 30% in 2020, mainly because due to the pandemic, people prefer to pay their bills through the app rather than in person or by mail.
When it comes to letters, have you been a member of the Austrian Post Supervisory Board since our last conversation?
Maximilian Schnödl: Yes, it was a great honor to have been elected by 99.9% of the shareholders at the Annual General Meeting in June. My goal now is, in addition to the perspectives on digital trends that I just mentioned, to bring the experience of my time at Deutsche Bank to contribute to the further expansion of bank99, which was created in 2020. I look forward to productive cooperation with the Supervisory Council and the Executive Council; Based on my last personal experience in the United States and Russia, it is clear that the Austrian Post is well positioned in an international comparison.
He was a longtime member of the Federal Computing Center’s oversight board. Is there any connection to the Swiss Post mandate?
Maximilian Schnödl: The connection is that both companies are strongly shaped by a dynamic digitization environment that presents challenges and creates opportunities at the same time. Having known the San Francisco Bay Area well for seven years and working intensively on digitizing public spaces, my experiences are relevant to both companies at the same time. The internal discussions at the BMF rumored in the media about possible closer cooperation between the two companies took place long before my appointment to the Post’s supervisory board. However, I announced in August that I would be retiring from the BRZ Supervisory Board after the end of the 2020 fiscal year after six demanding and satisfying years so that I can find more time for new challenges ahead.
After accepting the term of office, he also moved to the supervisory board in the US Are there any other steps planned?
Maximilian Schnödl: Yes, we successfully sought and appointed a new management team, and I have been Chairman Emeritus of the Supervisory Board since June. The personnel change was important because, on the one hand, I wanted to get properly acquainted with the new agendas at Austrian Post and, on the other hand, I wanted to prepare for my family’s move to Vienna, to make our long-term dream of living together in Vienna come true. the most livable city in the world. With continuously high coronavirus numbers in the US, it is currently unpredictable when we will actually be able to move, but our perspective and hope is that the move will be successful this year.
What is the career outlook in Austria?
Maximilian Schnödl: First of all, I want to bring that “Silicon Valley spirit” to Austria, which I have been able to experience here in recent years, and in my opinion it is about much more than digital business models. For me, “Silicon Valley Spirit” means an entrepreneurial approach and agility, a clear and measurable approach, the will to continuous improvement, high transparency, meritocracy and the possible flat hierarchical levels. For a long time I thought about how I could convey these concepts to as many Austrian decision makers as possible. In the end, I decided to continue working on the interface between the public and private sectors, and what would be more suitable here than a job at Österreichische Beteiligungs AG, which manages the largest federal investments?
What will your specific role be?
Maximilian Schnödl: In general, I would like to contribute my academic and practical experience in the field of active investment management: I still remember very well the “Risk capital Y Private capital“Conference I attended as part of my MBA course at Harvard Business School. In recent years, I have also been able to work closely with internationally leading active investment managers (such as Berkshire or more recently Accel-KKR). Together with the board of directors, my work as director and authorized signatory of ÖBAG will therefore focus very strongly on strategic issues and challenges, as well as on the direction of the company.
Could there be a greater focus on cooperation models with startups in the future?
Maximilian Schnödl: It is increasingly essential to our business location that established front-line companies, such as those represented in the ÖBAG portfolio, continually exchange ideas with new companies and thus benefit from their innovative strength. With network X Throttle Program, in 2020 a new cooperation format was created, in which, in addition to partners such as Stanford, companies from the ÖBAG portfolio also actively participate. After recently a “Innovation The camp was held, pilot programs with partner companies will start in the coming weeks. Depending on the success of this phase, the next steps will emerge, which can range from individual project partnerships to investments. Personally, I see ÖBAG’s role here in the future as (co) initiator and promoter of cross-portfolio innovation projects for further development of Austria as a business location.
ÖBAG has been in the headlines lately. An obstacle?
Maximilian Schnödl: An opportunity from my perspective, because there is much to do and I want to make my contribution. Although I cannot be in Vienna at the moment due to the crown, it was not difficult to convince myself that it would be advantageous to start sooner rather than later. And I myself, like many others, have been able to experience in recent months how easy remote teamwork can be.
What does success mean to you in the future?
Maximilian Schnödl: For me, success means working in a team to the highest standards to create tangible added value for the location that benefits everyone in Austria.
