Karol Szubstarski

Silicon Meets Steel: Investing at the Crossroads of Semiconductors, Robotics and Manufacturing

Semiconductors, robotics and advanced manufacturing are among the hottest areas in deep tech, and they are increasingly converging. Chips power the robots that are reshaping factories, while new manufacturing capabilities decide who can produce the chips Europe needs. In this panel, a deep tech founder and leading investors debate which of these forces is shaping the market most today, where the real investment opportunities lie, and what it will take for CEE to build global hardware champions.

• Panel

• Igor DeryłoPolish Photonics Technology PlatformIgor DeryłoDyrektor PPTF i Klastra microEPC, Polish Photonics Technology PlatformIgor Deryło is Director of Operations at the Polish Technological Platform on Photonics (PPTF) and coordinator of microEPC, the Cluster of Microelectronics, Electronics and Photonics. He is also a photonics expert at the Industry Contact Point Industry 4.0. Holding an MSc in Photonic Engineering, he has over 15 years of experience in international market entry, startup advisory and deep-tech ecosystem development across photonics, semiconductors, microelectronics and quantum technologies. His work focuses on connecting technology innovators, industry and research organisations to accelerate technology commercialisation and industrial collaboration.Read full bio →
• Jana BudkovskajaBSV VenturesJana BudkovskajaPartner, BSV VenturesJana Budkovskaja is an Estonian innovation leader, angel investor and ecosystem builder working at the intersection of entrepreneurship, impact and early-stage investment. Recently, she joined BSV Ventures, to support ambitious founders building scalable technology companies based on scientific breakthroughs. She is also a member of the management board of the Estonian Business Angels Network, EstBAN, where she is actively involved in syndicate investing, investor collaboration and the development of the Baltic early-stage investment ecosystem. Jana path into investing is deliberately interdisciplinary. Jana began with an academic background in physics and environmental research before moving into sustainability, innovation and startup ecosystem development. Her early work included municipal sustainability projects, including initiatives that helped an Estonian municipality transition fully to renewable energy. That experience continues to shape her investment perspective: Jana looks for founders building practical, scalable solutions to real-world challenges. Jana is also committed to improving access to capital for women founders. She has initiated and led several business angel syndicates designed to channel investment, strategic support and investor attention toward women-led startups.Read full bio →
• Marek KotelnickiVIGO VenturesMarek KotelnickiManaging Partner, VIGO VenturesI chose to invest in photonics not because it is easy, but because it's hard...ware! For over 15 years I have financed and commercialised European deep tech, including 8+ years as Managing Partner of VIGO Ventures, a venture capital fund focused on photonics. I have screened more than 1,000 early-stage companies across Europe, Asia and North America. Our portfolio spans five EU countries and Canada; those companies have raised over EUR 100 million, with 8 of 10 securing follow-on rounds from institutional and corporate investors. Today I am building Photonics Catalyst, an angel & expert network and ecosystem platform that gives investors and corporates early, curated access to photonics companies sourced globally, before they circulate widely. Photonics sits on the critical path of European competitiveness and strategic autonomy: AI infrastructure, sensing, energy, security and defence. The best companies of this transition are being founded now, and my work is making sure the right capital sees them first. I invest personally as well: deep tech companies, from photonic quantum computing to fabless semiconductors, with board and observer seats along the way. I serve on private and public boards of deep tech companies, and as an expert and jury member for European innovation instruments including the European Innovation Council, PhotonHub Europe or Tech Tour. I also share what I've learned as a speaker (Laser World of Photonics, VivaTech, CERN Venture Connect, OPTICA, EPIC and Future of Computing events) and since 2012 mentor to deep tech founders through, amongst others: Creative Destruction Lab, Tech Tour, PhotonHub Scaling Club, EIC Scaling Club, EuroCDP.Read full bio →
• Michał NejbauerFluence TechnologyMichał NejbauerCo-founder and CEO, Fluence TechnologyMichał Nejbauer, PhD, is Co-founder and CEO of Fluence Technology, a Polish company developing and manufacturing femtosecond fiber lasers for industrial applications. Combining a background in physics and optics with experience in commercialising advanced photonics, he has helped take Fluence from academic research to international markets. He brings a founder’s perspective on scaling deep-tech hardware, translating scientific innovation into manufacturing solutions, and building a globally competitive technology business.Read full bio →
• Karol SzubstarskiOTB VenturesKarol SzubstarskiPartner, OTB VenturesKarol is a Partner at OTB Ventures. He boasts over a decade of expertise in the deep tech sector, pursuing opportunities across three continents in traditional and corporate VC firms. Karol specializes in emerging technologies, including fintech infrastructure, data & analytics, and semiconductors. He joined OTB Ventures at its very inception, and prior to that was part of Intel Capital, the Corporate VC arm of Intel where he was focused on investment opportunities in Central and Eastern Europe, Russia, Africa, and the Middle East.Read full bio →

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