Brussels, Belgium. Europe’s long-term competitiveness will depend less on the amount of money available to startups and more on the strength of the ecosystems supporting them, entrepreneur, policy advisor and angel investor Ana Barjasic said. Speaking on the sidelines of the 2026 European Innovation Council Summit in Brussels, she said innovation debates too often focus on funding while overlooking the foundations needed to build sustainable companies and retain talent in Europe.
Focus beyond funding
Barjasic, founder of Connectology and Global Advisor at the Global Entrepreneurship Network, said discussions about innovation frequently place too much emphasis on finance and not enough on the broader conditions required for startup growth.
She said those conditions are essential for creating sustainable companies and ensuring that talent remains in Europe.
Advice for early-stage founders
Barjasic said one of the biggest mistakes made by early-stage founders is assuming that attracting investors should be their first objective.
Instead, she said entrepreneurs should begin by validating whether there is a genuine market for the product or service they are building.
“The most important thing is to validate whether there is a need for whatever solution or service they are building,” Barjasic said.
Testing real demand
She said many founders ask potential customers whether they like an idea, but the positive answers they receive often reveal little about actual demand.
“The right question is whether you are willing to pay for something, and how much,” she said.
According to Barjasic, customer traction opens doors to investors and other opportunities more effectively than a pitch deck alone.
Rethinking fundraising
Barjasic added that founders often fail to think strategically about fundraising. She said many entrepreneurs have absorbed the idea that starting a company should automatically be followed by searching for investors.
She also said that not every business requires external capital.