Tunya Irkad’s story immediately caught my attention because it resonates with so many female entrepreneurs across Europe. As a bootstrapping founder myself, thriving through resource constraints and unwavering personal belief, her journey into venture capital feels refreshingly genuine. With a background that bridges engineering and entrepreneurship, Tunya’s transition from working on the ground in tech to becoming a Principal at e2vc, a VC fund managing a €70 million portfolio, offers lessons that go beyond just numbers.
Let’s unpack what makes her approach unique and invaluable, especially for those of us operating in the resource-scarce climes of Europe’s startup ecosystem.
Why Her Path Stands Out
Tunya bypassed conventional career steps by diving straight into venture capital from college. This is far from the norm in an industry that values operational experience and execution before taking on investment roles. What set her apart? Her technical foundation and her ability to anticipate what founders need even before they realize it themselves. She emphasizes building strong, trust-based relationships with founders, acting not just as an investor but as a sounding board during their highs and lows.
For founders, this type of partnership is gold. I’ve experienced firsthand how many investors focus solely on metrics, overlooking the qualitative aspects of entrepreneurship like mental resilience and emotional intelligence. Tunya’s approach rejects this detachment. Her advice to entrepreneurs remains simple but impactful: don’t chase investors who only show up for polished pitches. What matters more, she says, are investors ready to jump in during crises.
Funding “Insane Founders”: What Does It Mean?
When Tunya speaks about funding “insane founders,” she’s not referring to recklessness or impulsivity. It’s a mindset defined by grit, long-term focus, and the ability to navigate unpredictable challenges. This philosophy resonates with my own experience running CADChain, where every day calls for solutions to unpredictable hurdles.
Based on her assessments, these “insane” founders often share specific traits:
- Resourceful Thinking: They stretch limited capital while targeting global markets from day one.
- Deep Dedication: They approach ideas with a lens of personal responsibility and persistence, questioning everything to build durable products.
- Cultural Adaptability: Particularly in Central and Eastern Europe (CEE), where many startups operate in fragmented markets, the ability to adapt across cultural and regulatory lines is game-changing.
It’s also telling that e2vc invests heavily in diaspora founders, those with roots in CEE regions but who’ve gained experience abroad. These founders tend to balance global ambition with a grounded understanding of their home markets' gritty limitations.
Lessons for Female Entrepreneurs
As a founder who’s had to bootstrap multiple startups, the challenges of running a business in Europe are magnified when you add gender biases, lack of representation, and limited funding pools into the equation. Here’s what female entrepreneurs can glean from Tunya’s thoughts on grit, geographic focus, and VC partnerships.
1. Own Your Story
Tunya’s narrative underscores that a less traditional trajectory does not make you less capable. For many women, including myself, balancing various professional domains often seems chaotic. But this mosaic of skills is a strength. Show how your unique experiences, whether in linguistics or strategic management, inform the way you tackle business problems.
2. Seek Out Venture Partners, Not Just Capital
When fundraising, look for an investor ready to engage deeply. Tunya’s high-trust, high-context approach highlights how genuine partnerships stem from shared connections and mutual growth. VCs like her want to take the call when something fails, an approach we should prioritize over purely financial backing.
3. Play the Long Game
Ambition in Europe’s fragmented startup ecosystems requires long-term thinking. Tunya speaks highly of founders who aren’t blinded by shiny trends. Build something meaningful that fits your own values, not just what the market currently demands.
How-to Insights: Bridging Europe and Global Markets
One of the most eye-opening parts of Tunya’s work is how she facilitates cross-regional growth for startups in places like the Baltics and Turkey. She revealed her belief that startups in emerging markets should think globally from the outset, despite having fewer resources. This strategy aligns with many women-led businesses I’ve interacted with, where global markets are the end goal even during a bootstrapping phase.
Practical Steps for Founders Thinking Globally:
- Travel to Learn: While funding obstacles loom large, visiting key ecosystems like San Francisco or Tel Aviv sparks inspiration and builds valuable networks.
- Find Diaspora Leaders: Diaspora connections often pave the way for cross-market success. Consider reaching out to leaders in your field who have roots in your region.
- Target Niche Audiences Abroad: Especially for products born in smaller markets, start small by targeting specific niches abroad before scaling.
Avoid These Common Mistakes
Speaking directly to fellow entrepreneurs, there are traps we can evade while navigating the daunting task of building scalable businesses. Based on Tunya’s advice and my own learning curve:
-
Ignoring Who You’re Accepting Capital From
It’s tempting to take funds from anyone offering a term sheet. Don’t. These partnerships last as long as marriages, and bad VC dynamics will complicate your startup’s future. -
Overestimating Trends
Tunya herself avoids investments rooted in fleeting AI or tech trends. The sustainability of your product matters more than its buzz factor. -
Neglecting Culture
When scaling to international markets, founders in Europe need more than frameworks, they need cultural fluency. Thinking like your customers and reaching out personally to user communities gives you an edge over competitors chasing generic growth.
The Bigger Picture: Women Entrepreneurs in the Spotlight
Tunya also brings a sharp focus to funding diverse voices in entrepreneurship, though she admits there’s a long road ahead. Her approach reflects the growing calls for equity across the VC industry, yet she recognizes this transformation requires time. As a female founder myself, I find her candidness encouraging. We need more women investors advocating for sustainability, empathy, and creativity in business.
Many of us have already faced skepticism that's different from our male peers, whether in networking events or investment negotiations. Tunya’s success challenges perceptions of who belongs in VC and makes me hopeful for more representation in nontraditional paths.
Learn More
For an in-depth look into Tunya’s approach and the startups she backs, view her interview on Tunya Irkad’s VC Journey. You can also connect with her insights about diaspora founders and e2vc’s strategy on the future of emerging markets in tech.
Closing Notes
Female entrepreneurship in Europe isn’t easy. Between navigating outdated norms and underfunded ecosystems, we fight to be taken seriously while juggling complex roles. Stories like Tunya’s show that the grit we use to build is not an exception, but an advantage. With the right mindset and hybrid partnerships, we can add much-needed diversity to entrepreneurship, whether as VC partners or founders. Let’s focus on building relationships that go beyond transactions and start asking for partnerships that support resilience, empathy, and long-term vision.
FAQ
1. Who is Tunya Irkad, and what is her role at e2vc?
Tunya Irkad is a Principal at e2vc, a venture capital fund managing a €70 million portfolio. She entered VC directly after college, which is uncommon in the field, and has a background in engineering and entrepreneurship. Read more about Tunya Irkad's VC journey
2. What makes Tunya Irkad’s approach to venture capital unique?
Tunya’s approach emphasizes high-trust, high-context relationships with founders. She focuses on being a true partner, supporting founders during both successes and crises, which helps build genuine partnerships. Learn more about her investment philosophy
3. What is meant by “insane founders,” and why does e2vc fund them?
“Insane founders” exhibit resilience, resourcefulness, and dedication to solving tough challenges. Tunya believes these traits are pivotal for startups navigating fragmented markets like Central and Eastern Europe. Discover why Tunya seeks "insane" founders
4. What regions does e2vc focus on for investments?
e2vc focuses on Central and Eastern Europe, Turkey, and the Baltics, often bridging these markets with Silicon Valley for global growth opportunities. Explore e2vc's regional focus
5. How does e2vc support founders in global market expansion?
e2vc provides mentorship and diaspora support, helping founders connect to international networks, access U.S. markets, and grow their startups with global ambitions. Learn about e2vc's cross-market strategy
6. Why is bridging Europe and Silicon Valley critical for emerging market founders?
Tunya stresses that visiting ecosystems like Silicon Valley rewires founders' perspectives and builds drive and ambition essential for scaling global businesses. Read more about Silicon Valley's influence
7. What sectors does e2vc target for investment opportunities?
e2vc focuses on sectors like AI infrastructure, robotics, workflow platforms, and technically complex verticals that require long-term commitment and expertise.
8. What lessons can female entrepreneurs learn from Tunya’s experience?
Tunya advises women founders to embrace their unique career paths, seek venture partners beyond capital, and play the long game by building meaningful and durable businesses. Get inspiration from Tunya's approach
9. How does e2vc view cultural adaptability in founders?
Cultural adaptability is crucial, especially for founders in fragmented markets like Central and Eastern Europe, where understanding regulatory and cultural differences is key to scaling.
10. What mistake should founders avoid when accepting investment?
Tunya advises against taking capital from investors who lack alignment or offer little value beyond funds, as these relationships shape the long-term future of startups. Check out Tunya's advice for founders
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
