At sTARTUp Pitching, a highlight of sTARTUp Day, early-stage startups compete for funding, visibility, and support from investors. This year, the EstBAN-led syndicate is offering an investment of up to €200,000 to the most promising startup. With her extensive experience in startup ecosystems and investment decision-making, Jana shares her insights into what makes a startup stand out, the key lessons she has learned as an investor, and the attributes she looks for in founders seeking funding.

What is your background and journey as an investor? How did you became the EstBAN syndicate lead investor?

My background is strongly tied to technology, innovation, and entrepreneurship development. I have been involved in the startup ecosystem for years—as a program organizer and facilitator, mentor, and investor—which has given me a solid understanding of both entrepreneurship and the investment process.

My greatest passion is creating opportunities for new ideas. The role of lead investor is an exciting challenge and a great vote of trust from the members of EstBAN. Reaching this position has been a natural part of my journey, as my goal within startup support organizations has always been to help companies grow strategically and sustainably while developing their international potential.

What has been your most memorable investment experience so far? Is there a startup whose growth has particularly surprised or inspired you?

The most memorable experiences in startup development come when an ambitious team exceeds initial expectations and breaks into new markets. I particularly remember the initially quieter founders who have true grit and persistently move toward their goals without hesitation. Entrepreneurship, like innovation, is full of uncertainty, and innovative entrepreneurship—startups—doubles that uncertainty, where the only certainty is that everything is uncertain.

Early-stage investors always evaluate the founder and trust the groundwork they have done—whether they have researched the market, validated customers, etc. Every investor's portfolio includes losses as well, and one lesson I’ve learned is that you should never "fall in love" with a startup—especially if it’s in a super-trendy sector with a charismatic founder that everyone seems to want to back. In such cases, it's difficult to assess risks objectively.

What qualities and potential do you look for most in startups when investing? Is there something in a pitch that immediately convinces you or, conversely, raises doubts?

Both the pitch and the accompanying documents—such as the deck and application—reflect the team's understanding of what they are doing, as well as their discipline and resilience under pressure. A pitch reveals whether there is a clear focus and a well-rounded understanding of the problem, the solution being built, and the target market. In essence, it comes down to whether the team has done its homework. Often, it boils down to a simple question: does the founder have enough motivation, strength, and confidence to build the company?

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Read more about the TOP 31 startups at sTARTUp Pitching finals from here.