Investment & Fund Management
backed by the European Investment
Full Credential Description
Sven Purns, an engineer from Austria, faced the challenge of financing his innovative toy business, Ainstein, which he started by creating unique building blocks for children. The initial success of his product, which featured colorful cubes and prisms with a special magnet design that prevents them from repelling each other, led to a rapid increase in demand. Within the first few months, he sold 50,000 building blocks primarily in Austria, but he recognized the potential for growth in larger markets like Germany.
To support his expanding business, Sven sought financial assistance. The Austrian Wirtschaftsservice Gesellschaft (aws) provided a guarantee for the financing he needed, backed by the European Investment Fund (EIF). This support enabled him to invest in essential machinery, such as ultrasonic welding equipment, and secure working capital to stabilize his operations. As a result, Ainstein now produces approximately 1,000 pieces per day and has plans to launch a new line of building blocks in various colors for Easter 2017. With one employee and a growing business model, Sven is also considering expanding his product line to include round building blocks, inspired by his family life and the needs of his children.