Monika Vrbková: By 2030, we want to have 10 globally successful companies

JIC is also building a very good reputation and establishing a strong brand among investors. “Some even reach out to us on their own,” says Monika Vrbková, who leads the business financing support team. Read more in the interview about how JIC is building relationships with international investors.

How long has JIC been collaborating with foreign partners and investors?

We’ve always been focused on supporting international expansion and connecting with foreign investors, but since last year, we’ve been striving for a more systematic approach. With the help of foreign partners, we’re prioritizing the regions we want to focus on. This is also reflected in our strategy through 2030. Our aim is to support the creation of another 10 globally successful companies. And to facilitate investments totalling 50 million euros for companies in our portfolio.

What does JIC’s current collaboration with foreign investors and organizations look like?

In the area of international expansion, we are establishing partnerships with organizations that provide support primarily in the form of soft landing services. They offer either financial support or coworking space and related services—connections to mentors, experts, and investors. Our long-term partner in this area is the Vienna Business Agency, which is our companion for expansion into the DACH region. This agency also provides its own program, Vienna Startup Package, which offers even funding to the startups so they can spend several weeks in Vienna. The program is open to companies from all over the world, so you will meet interesting people there.

Do you also collaborate with anyone outside of Europe?

We’re developing partnerships in the United States. In San Francisco, our partner is the European Startup Embassy. This project has existed since last October and is backed by successful companies such as Keboola, Appify, and ValkaAI, as well as investors like Rockaway Ventures. Given the founders’ expertise, it is designed for B2B SaaS companies. Its main added value lies in targeted matchmaking, networking, and support from the founders of companies that have already successfully expanded. However, it also offers a soft landing in the form of a coworking space or housing and allows organising events for up to 80 people. We would like at least five companies to go there with JIC’s support—we will offer them preferential terms to use these services.

Are there any other international projects you’re in contact with?

Yes, in the U.S., we also collaborate with a Czech Business Incubator in Atlanta, backed by Monika Vintrlíková, Honorary Consul of the Czech Republic, and the Regional Chamber of Commerce. We’re also developing partnerships in Singapore to expand into Asia. In addition, we’ve identified five events this year that we want to take a group of JIC companies to. For example, there’s the South by Southwest festival in Austin, where 11 companies traveled with us. We also want to go to Vienna for the largest startup festival, ViennaUP. Our partnership with the Vienna Business Agency will help us there. Then we’re planning to attend Vivatech in Paris, Tech Week in London, and the Smart City Expo in Barcelona this fall.

How did the idea to connect JIC with foreign investors actually come about?

This initiative came from the ground up. We have several companies with foreign investment, including Whalebone. Its founder, Richard Malovič, suggested that he’d be happy to share his investor contacts with us. So they could learn about JIC, the entire region, and the interesting companies here. Another reason why collaborating with foreign investors makes sense is that while startups raise their initial funding locally, subsequent investment rounds tend to take place abroad.

Connections, preparation & global ambitions

What if you want to approach an investor yourself—do your current partnerships and contacts help you?

Yes, when we organize events in Brno, the Vienna Business Agency helps us identify relevant investors. And similar cooperation is with the European Startup Embassy. But the easiest way to reach investors is through our clients who have already received foreign investment.

Is there anything specific about working with foreign investors compared to Czech ones?

Foreign investors look at companies at a completely different stage. They seek high-growth startups that are generating revenue. The target isn’t early-stage companies, but those raising their second or third rounds of investment.

How does connecting companies with foreign investors work in practice?

Typically, we give the investor an overview of the region, JIC, the broader context, and our portfolio, which currently includes roughly 400 companies. If the investor focuses on a specific sector, we tailor the presentation to it. Then we identify relevant companies, send their profiles to the investor, and if the investor is interested, we connect them. 

And what is the process from the startups’ perspective? What happens when they approach you, asking for help in finding a foreign investor?

First and foremost, we verify whether the company is truly ready for investment. In this process we use the experience of people at JIC, such as Jirka Tobola or Miloš Sochor, who work with our clients on investment readiness. Then we facilitate contact with an investor who is interested in connecting. They schedule a call, and after that the investor decides whether to continue negotiations.

Do you also help startups to prepare for contact with investors?

We work with companies on an ongoing basis. Before contacting an investor, we usually help them fine-tune their pitch deck, and we continue our collaboration even after the investment.

How does the pitch deck for foreign investors differ from the one for czech investors?

The pitch deck changes significantly with each investment round, both in emphasis and in data. In the first round, investors primarily trust in the vision and the team, in subsequent rounds, they seek hard evidence of growth and scalability. This is reflected in a greater emphasis on the company’s business potential. Investors are primarily interested in how the investment will be used—what specific steps it will fund and what growth leverage it will bring to the company. It’s not a different type of pitch deck, but a different dimension of the presentation. If you’re approaching a foreign investor, you must prove the ambition to build a globally successful company.

One of biggest JICs’ advantages? A strong brand

What is better for a startup—to connect with an investor directly, or to have JIC arrange the meeting?

It can be difficult for the company itself to establish contact with a foreign investor. From the investor’s perspective, there is a difference between being approached directly by a specific startup and having the contact arranged by an organization like JIC, which has the status of an independent authority. We can offer investors a curated overview of the best startups in the region. We also verify which companies investors are targeting—what sectors they invest in, what companies they have in their portfolio, or how large their typical investment tickets are. Based on this, we identify relevant startups. Some investors even prefer receiving informations from JIC, rather than from individual companies. One example is the Nato Innovation Fund. They were asking us which startups from our portfolio were currently preparing for another investment round. After that, they conducted their own research on them, and then did they ask for a connection.

How difficult was it to gain the trust of foreign investors? Did the fact that JIC is an independent institution help you?

I think that played a major role. It was also important that we have an interesting portfolio of clients—including those who have already secured foreign investment. That’s a very strong argument. It also helps that many companies operating in our region have already achieved successful exits. Investors are also interested in the, such as region's strong industries such as cybersecurity—everyone knows AVG Technologies. It’s similar with electron microscopy. Very strong arguments for the investors is that roughly one-third of all electron microscopes in the world come from Brno.

And how does communication with investors work? Are you in constant contact?

Yes, we try to keep them engaged on an ongoing basis. In addition to follow-up communication, we also invite them to events we attend. For example, when we go to the South by Southwest festival in Austin, we invite them to the Czech House. We also invite them to Brno for Startup Money or the Velvet Innovation conference. We also send them a regular newsletter summarizing important news and introducing companies from our portfolio that are currently preparing for another funding round. This way, we maintain continuous contact with them. Another advantage is JIC’s strong brand—thanks to it, investors often reach out to us on their own.