Navigating Startup Ecosystems

While I support pro-European initiatives like Project Europe, Europe does not need more seed capital or more young entrepreneurs. Only 4% of European startups reach 1M€ in ARR, with a significantly higher failure rate for people under 30. A major issue for startups scaling past 10M€ ARR in Europe is market size. The European market is fragmented, with tons of country-specific solutions offering similar feature sets that are never consolidating because no-one can afford to buy the others. Look how many companies based in different countries are solving the exact same problem right now in Spend Management, Procurement, Billing, Treasury, SMB payments... In a VC's mind, increasing the number of companies increases the likelihood of betting on the right one, especially if you capture them early like pre-seed stage funds do. But all it does in reality is creating a gap between offer and demand by artificially increasing offer while demand stays flat. It drives prices low for everyone and makes it hard to find sustained, long-term growth in an already small market. The same happens with quality, I started in tech at 19 and didn't have a good enough understanding of the actual issues to build a good enough product. I've seen it with Spendesk, Pleo, Payhawk, Soldo and others fighting for the same bone while Ramp grew unbothered on a significantly bigger market. Not everyone should be an entrepreneur, we need engineers, designers, sales and marketers for our companies to succeed. If everyone is offered the perspective to become the next Cursor (spoiler, it doesn't happen that often), especially at an age where you're supposed to start getting trained at your job, it removes an incredible pool of talented employees from the market. I actually think Europe needs less, higher quality companies that can cover the whole continent and get big enough to compete with US players. Europeans need to start buying products made in Europe when they're on par with American or Indian ones. European VCs need to understand it takes a long time to build a 100M€ ARR business when you need to expand in 27 different markets. The reason Europe doesn't build companies is unfortunately not that we lack seed stage funding, it's way deeper.

Networking changed my life. I made friends I wouldn't have met otherwise, built business partnerships that bring us millions, and landed book deals I never imagined. Here’s my 5-step system to network better: Step 1: Make Two Strategic Lists List 1: People you already know who you want to deepen relationships with: • Friends of friends you'd like to know better • The VIP in your office you see at holiday parties • That colleague you want to move from professional to friendship List 2: People you want to meet (can be specific names or types) • "The sales director at X company" • "Someone in renewable energy" • "A startup founder in my city" Being specific makes it infinitely easier to take action.  ____ 2. Schedule a “Connection Hour.” Every week, I block one hour just for relationships. For me, it’s Tuesday happy hour. I fill that time slot with: • A new contact • A coffee catch-up • A LinkedIn message to someone on my list Without time on the calendar, connection never happens. ____ Step 3: Ask Goal-Oriented Questions Stop asking "How's work?". Start asking questions that spark deeper conversations: • "What gets you up in the morning?" • "What goals are you working on this year?" • "What's the biggest project you're excited about?" These questions make people think deeper, give you something memorable to follow up on, and transform small talk into real connection. ____ Step 4: Adopt the "Offer Mentality" Flip the script from "What can I get?" to "What can I offer?". Simple ways to help: • Write a LinkedIn recommendation • Share a relevant article or opportunity • Introduce them to someone in their target industry • Send vacation recommendations if they're planning a trip The more I give, the more trust I build - and the more people want to stay connected. ____ Step 5: Follow Up Like Your Grandmother Remember when grandmothers used to mail newspaper clippings they thought you'd find interesting? Do the digital version. Powerful follow-up strategies: • Send relevant articles • Forward interesting links • Send birthday messages • Write LinkedIn recommendations • Share opportunities you think they'd love I’ve shared these 5 steps with hundreds of people, and they’ve seen real results. Now it’s your turn.

Excited to share a new article explaining the #US-#EU gap in technological #innovation, coming out in Northwestern University Law Review this coming fall. In this piece, I challenge the common view that the #EU's stringent #tech #regulations have an adverse effect on innovation and thus hold European tech companies back. Instead, there are more foundational features of the American legal and technological ecosystem that have paved the way for US tech companies’ rise to global prominence—features that the EU has not been able to replicate to date. In particular, I highlight (1) the fragmented digital #singlemarket that prevents the scaling of innovations within the EU, (2) under-developed #capitalmarkets that limit tech companies’ ability to grow in the EU, (3) Europe’s punitive #bankruptcy laws that deter risk-taking, and (4) the absence of a proactive #immigration policy that would allow the EU to harness foreign tech talent. At the same time, these same factors are inherent strengths of the US’s legal regime and tech ecosystem, directly contributing to the success of US tech companies. Thus, there is much that Europe is not getting right in terms of nurturing innovation and cultivating leading tech companies. But choosing to regulate the tech industry in the name of safeguarding individual rights and societal freedoms is not where the problem lies. You can read the full article here: https://lnkd.in/e-ZFbjX6

How to raise venture capital when you don’t have any investor connections! It took me 219 investor calls to get 29 Yes’s from investors for our $2.55m seed round! Every single investor on our cap table can be mapped back to a cold outreach. Here are some tips and tricks that I used to build my investor network as a first time, non-ivy league, non-tech, female immigrant founder: 💎Show up! When u’re a first time founder with absolutely no connections, you gotta start from scratch and get on people’s radars. Blasting mass emails isn’t gonna do that! For me what worked was joining virtual pitch competitions, twitter spaces & documenting my founder journey on twitter! Pick your social media platform (it looks like more investors are now on LinkedIn than twitter, unless u’re web3) and share your journey with authenticity, transparency & creativity! Grab every single opportunity you get to share your vision and be hungry to learn! Building in public is your best strategy! 🐐”Ask for money, and get advice, Ask for advice, get money twice" ~ Pitbull Building investor relations starts way before you formally start fundraising and continues after u’ve closed..So seek advice and invest in the relationship before u expect them to invest in ur startup. Also, Investors luv helping out, but u gotta help them help u! Do your research before the call, ask meaningful questions and be clear with ur ask! 🤛🏽Give First I try to find ways to add value to investors, they may be the ones writing the check but u can still offer value! E.g: summarize their recent blog as a twitter thread, share an intro that’s mutually beneficial, tell other founders if you found them helpful 🚫Understand a “No” is a “Not Now” - you will get a TON of Nos, it’s part of the journey. After every No, I would do the following: 1. Understand why it was a no, if there is a recurring reason, see if you can fix it 2. I would ask permission to add their email to our investor update ✅Send Investor Updates even when you have no investors - u don’t need investors on ur cap table to start sending updates, investors invest in lines not dots, give them proof of traction & watch those Nos —> Not Now —> Yes (Upcoming post: I’ll share 3 actual samples of our investor updates from 2021, 2022 & 2023) 🚝Accelerators/Incubators - I applied to accelerators of all sizes & shapes as long as they came with funding! Our first check of $25k came from 11 Tribes Ventures as part of the OCEAN Programs.. we used this funding to get our MVP built in less than 6 weeks and were able to leverage the momentum to raise funds Note: Watch out for the scammy ones, there are plenty! 🤩Leverage optionality - we used Republic ECF to complement our fundraising efforts, it’s a great way to raise funds, build community & show momentum! In fact we enjoyed ECF so much, we currently have a campaign open: https://lnkd.in/ef5-c6WN

This post details how we went from having zero contacts at large brands to sourcing partnerships with execs at PolicyGenius, Instacart, SoFi, hims/hers, Ramp, TD Bank and more. I spent the first 10 years of my career on the publisher side, so we had a slight head start there. But when it came to sourcing brand deals, we started from zero. Whether you’re a founder, an SDR, or just trying to invest in your network, these 5 steps will get you there: 1 - Start with what you have. Look through your network for people tangentially related to your target industry. Literally sift through every current contact you have on LinkedIn. Ask them for coffee. Pick their brain. I was learning about the PR industry in parallel with building my network - each meeting helped form our roadmap, while also building a network. People like helping people, but they don’t want to feel used. Be genuinely curious. Do this at least 10 times^. Step outside your comfort zone. If 100% of people say yes, you aren’t asking enough people for coffee. 2 - Parlay into more conversations. Every conversation should end with “who else should I meet with?” If you're charming and your goals are clear, this will lead to new conversations. Follow up (show them you listened), but don’t be a PITA. Networking is a long game, don’t bug them every 3 days. At this stage you are planting seeds, not picking flowers. 3 - Ask for feedback, not sales. No one wants to be sold, but everyone wants to feel like their opinion matters. Don’t lead with “wondering if they’d be interested in our product,” but instead “I want to get their feedback on what we’re doing.” This will make you 10x more likely to land meetings. 4 - Create Content. My posting on LinkedIn has directly led to over 20 deals for Stacker. But they did not come from people sliding into my dms with “hey can we work with you?” It was through connecting with interesting people in the space, them evangelizing what we do, and 2 months later introducing me to someone that they thought could be a client. If you plant enough seeds, some will turn into fruit. Editor’s note - do this yourself. People can tell when you’ve paid someone to write for you, and it’s turning into a huge turn off. I think if I paid an agency to write my content, I’d have twice as many followers, but half as many meaningful deals coming through. 5 - Nurture. Just because a conversation doesn’t end with “wow I should intro you to this potential client” doesn’t mean it won’t be valuable long term. People like to help people that they like. So cultivate relationships, put out into the world what you’re seeking, and trust that its a process. This post is about building a network that will reap deals over the mid to long term. These are not tips for how to close deals next week. Is it frustrating that this takes time? Sure. But I guarantee that if you start today, you’ll be in a much better place a year from now. Building a network is a snowball - gotta start somewhere.

When I first came to Charlotte, I didn’t know a single investor. Now I know most of the active ones in the Southeast. That didn’t happen overnight. And it definitely didn’t happen by accident. The biggest mistake founders make is waiting until they need money to start building investor relationships. If you want to raise on your terms, you need to start before you open the round. Here is what worked for me: - Made a target list of funds and angels that are actually actively deploying capital - Showed up at events even when I didn’t know a single person - Followed up with value, not a pitch - Sent updates even when I wasn’t raising - Built trust by showing progress, not just talking about vision This is how I went from “new in town” to “send it to Charlotte, she’ll know who’s right for it.” Fundraising is a relationship game. And the relationships that matter are built before you ask for a check. That is also why we built Capwave AI: to help founders build investor relationships the right way, starting early. Find the right matches, send the right signals, and stay top of mind without guessing. What is one thing that helped you grow your investor network? How early did you start building relationships before your last raise? And what’s something you wish you had done differently? This is a smile from last week during a panel where I had the privilege to share the stage with incredible Elizabeth & AI-expert Ben Gilman. If you are looking for one of the most supportive startup communities in the Southeast, check out The Hurt Hub@Davidson. If you are looking to build exceptional software without an in-house team, I always recommend Dualboot Partners. #fundraising #venturecapital #startups #founders #investorrelations

Struggling to turn networking into real, lasting connections? Here’s how you can start building powerful relationships in 7 simple steps! Most people network but fail to stay memorable. True connection isn’t just about exchanging business cards—it’s about creating mutual value. Strong networks open doors to new opportunities, partnerships, and friendships. We’ve all been there—attending an event, meeting great people, exchanging info, and then… silence. Days pass, and it feels awkward to reach out again. Sound familiar? I’ve used these 7 practical strategies throughout my 20+ year career in leadership, finance, and operations, and they’ve led to lasting, high-value relationships that have shaped my career. 7 Steps to Build Fruitful, Lasting Connections: 1. Ask Better Questions Forget small talk! Ask questions that show genuine interest. Instead of “What do you do?” try “What’s something exciting you’re working on right now?” 2. Find Ways to Add Value Immediately Did they mention a problem they’re trying to solve? Offer a helpful resource, introduction, or idea—without expecting anything in return. 3. Follow Up Within 24 Hours Send a quick, thoughtful follow-up message. Mention something specific from your conversation to stand out. Example: “I really enjoyed our chat about leadership development. Here’s the article I mentioned!” 4. Be Consistent Relationships fade without consistent communication. Reach out every few weeks with something valuable—a relevant article, an invite, or even just to check in. 5. Leverage Social Media Comment on their posts, share their work, and stay visible. People remember those who engage consistently. 6. Join Their Circle If they’re part of a group or community (in person or online), join in. Shared spaces strengthen relationships naturally. 7. Be Yourself Authenticity is key. People connect with real, relatable individuals, not perfect personas. Don’t be afraid to show your personality. According to a Harvard Business Review study, professionals with strong networks are 58% more likely to find new career opportunities and report 42% greater career satisfaction. Building lasting relationships takes time. Follow these steps consistently over 3-6 months, and you’ll notice a significant improvement in both the quality and depth of your network. I met a fellow executive at a leadership conference. Instead of just swapping LinkedIn profiles, I asked, “What’s one challenge you’re facing that keeps you up at night?” That question sparked a meaningful conversation, and I later sent a helpful resource. We stayed in touch, exchanged ideas, and, over time, became collaborators. Today, that connection is a trusted professional ally. Whether you’re in operations, finance, or leadership development, building a solid network is essential for long-term success. The right relationships don’t just help—they multiply your opportunities.

Recently, I've had 40+ conversations with founders, investors, and partners - here's what I learned about building a powerful network. I remember attending a national training at KPMG with thousands of professionals from across the U.S. They asked each team: "What's the most valuable thing you'll get out of this event?" We submitted "Networking will be the most valuable thing we get out of this event." I was shocked when they called out our answer as the winner across all teams. It took me years to really understand this. When I launched Mighty Digits, my first 2 customers came from within my network, giving me freedom to build while securing income. Some of my largest customers came from relationships with VC firms who trusted us with their portfolio companies. As the saying goes: "It's not what you know, it's who you know." To me, it's both - but if I had to choose one, it would be the people in my network. A good network naturally raises your IQ and yields 10x dividends. ➡️ IDENTIFY WHO YOU WANT TO NETWORK WITH Everyone wants to connect with their ideal customer, but don't stop there. Connect with other service providers who serve your target audience but aren't competitive - alternate services or same service in different regions. My favorite people to connect with are investors, since there's strong correlation between investing in a company and wanting confident financial records. Start by making a list of the most ideal people to network with and work backwards. Avoid focusing only on customers to sell to. ➡️ HOW TO CONNECT WITH YOUR TARGET AUDIENCE "Ask for money and get advice, ask for advice, get money twice." Your goal with networking is NOT to sell anything. Your goal is to provide value and establish relationships. Sales come naturally as relationships are nurtured. Four ways to connect: — Reach out for warm intros through mutual connections — Send targeted cold emails that are relevant and personalized — Host events that allow them to expand their network too — Attend events and approach people in groups or standing alone ➡️ THE FOLLOW-UP FRAMEWORK This is the most important part. After connecting: — Send follow-up email with thanks and conversation recap — Find ways to offer value first - referrals, advice, resources — Keep in touch quarterly to see how you can be of service — Treat your A-list players with appreciation - gifts, meals, personal thanks === Networking is a long-term play. Relationships take time to build, and many may not go anywhere. But for those that do, you can build an entire business on them. What's been your experience with networking? Do you have any tips for building powerful relationships? Share your thoughts below 👇

Here’s the best networking advice I’ve ever heard: Don’t wait until you need something to reach out. Networking shouldn’t feel like a business transaction. It’s about showing up for people —consistently and authentically. Relationships thrive on genuine, consistent effort. And I’ve seen these 7 strategies open doors I didn’t even know existed: 1️⃣ Be Real ↳ Show genuine curiosity. Approach with sincerity and a desire to help. People can sense authenticity a mile away, and it’s the key to meaningful connections. 2️⃣ Celebrate Their Wins ↳ Recognize their milestones: promotions, new ventures, even personal achievements. A simple "Congrats!" goes a long way and keeps you on their radar in a positive way. 3️⃣ Engage on Social Media ↳ Drop a comment or DM your contacts when you see their posts. Even better—send them posts or articles you think they'd appreciate. It's about showing you care. 4️⃣ Catch-Up Chats ↳ Every so often, suggest a casual coffee (virtual or in-person). No agenda needed. Just connect and strengthen that relationship over time. 5️⃣ Quick Notes ↳ Send a short, friendly check-in message. Mention a recent achievement they posted or something relevant you came across. Takes three minutes, tops. 6️⃣ Share Relevant Content ↳ Found something that could help or inspire them? Share it! (For example, “Hey, this AI tool reminded me of your project...”) 7️⃣ Track and Follow Up ↳ Use a system—spreadsheet, CRM, anything, to stay organized. Life gets busy, but connections matter. Overwhelmed? I get it. I felt that way too. So I started small, three quick interactions a week. It’s manageable and works wonders over time. The truth is, networking is not a "when you need it" thing. It's about being human and building trust. Try it and watch opportunities start showing up. P.S. What’s one way you’ve built meaningful connections in your professional life? Photo Credit: Colby Kultgen — If this resonates, give it a share. ♻ And follow Sandra Pellumbi for more. 🦉

Instead of asking investors for 30-minute calls, try this: After years on the investor side, I’ve seen countless ways founders try to connect with investors, and many fall flat. Not because they lack potential, but because they’re missing a clear, intentional strategy. Here are four practical ways to build genuine, value-driven relationships: 1️⃣ Add them on LinkedIn and build in public Let us see your journey! Share your wins, your learnings, what you're building. Give us a reason to care. When investors see consistent, tangible progress from afar, it creates a natural sense of interest,  that "I need to know more" feeling. 2️⃣ Send a message that sparks curiosity Whether it’s an email or a DM, lead with a compelling blurb that hints at your progress and how it connects to your goals. Investors are human, give us a reason to be genuinely curious about what you're building beyond a future ask. 3️⃣ Ask if you can add them to your investor update This is one of the most underrated tools. A brief, quarterly update (3-5 bullet points) on your key milestones keeps you on their radar without demanding a meeting. It builds a powerful narrative over time, showing consistent progress. (and if you don’t have an update yet... that’s something worth fixing first.) 4️⃣ If possible, meet them in person. Nothing beats face-to-face. Investor relationships grow faster at events, conferences, or even casual meet-ups. Show up prepared, be ready to share what you're building, and just be yourself. Real-world interaction makes a huge difference. Scheduling a call “just to keep them in the loop” can easily backfire, especially if you're not fundraising yet. Investors are people too, with full calendars and limited bandwidth. Empathy goes a long way! Want some extra tips on how to write truly compelling blurbs that get attention? DM me! #Fundraising #InvestorRelations #StartupStrategy