Adrian Migoń: Poland's problem with financing inventors. They find money abroad.

Why is it worth taking part in the "Young Inventor" competition organized by "Rzeczpospolita"?

The aim of the competition is to support entrepreneurship and innovation among young people. I think there's still a lack of initiatives in Poland that support young people in developing their businesses. "Young Inventor" is a great example of how businesses and various organizations can get involved to promote innovation. However, from the participants' perspective, it's worth applying to be able to showcase your company to the world. Building a business model, creating innovative projects, and unique solutions that help solve a problem in an original way are crucial to company development. But it's also important to showcase this solution to the world. Young people struggle to reach the media, various business accelerators, and investors, so that someone hears about their idea. That's why this initiative is great because it helps gain publicity. An innovative solution can be noticed by mentors, investors, and businesses. Maybe someone will be interested in a meeting. We're expanding our network of contacts and the visibility of our project. Maybe we'll meet someone, for example, in the jury, who will invite us to an acceleration fund and help further develop this initiative. This creates a whole host of potential conversations and contacts for the person who applies.

To what extent do you think the competition's goals were achieved in its first edition?

I think the effect is positive. Many young people applied, and interesting solutions were selected. I had the opportunity to meet several of the winners at subsequent conferences and startup events. Thanks to the competition, we're able to reach people who previously didn't know such innovative initiatives existed. And once they've "fallen into" the startup world, they show up at subsequent conferences and meetups. I've seen winners like Filip Budny from Watersense, and Kornelia Wieczorek with her RHIZOSPHERIC project – she recently presented her idea at the Carpathian Start-up Fest. This is valuable for facilitating innovators' development and giving them a boost.

How do you generally assess the current state of Polish innovation?

We have many wonderful inventors, scientists, and engineers, but as a country, we also face many challenges. On the one hand, we have a wealth of innovative inventions and solutions, such as the Polish blue laser graphene and several others. On the other, the system for supporting these innovations and assisting in their development is highly inefficient. As a result, these solutions often fail. In Japan, China, and the USA, both the public and private sectors are willing to invest in innovation. Here, this commitment is lacking. Funding is available, but the system doesn't function effectively. Excessive institutionalism and bureaucracy limit innovation. Sometimes, innovative companies receive subsidies, only to have their decisions regarding support reversed. This kills business and the trust of foreign investors. However, there are already ideas and patents on how to change this system.

Well, how?

We definitely need to simplify the formalities when it comes to investments, grants, and settlements. Young people today are often afraid to apply for this funding. Another issue is the need to unite the startup industry, introducing a "one-stop shop" where it's easy to obtain information about development programs and financing. The domestic startup sector is highly individualized. We lack cooperation, advisory bodies, and dialogue between accelerators, the public sector, and large companies. This is necessary to jointly develop further development policies and investments in innovation. Another important issue is greater involvement of Polish businesses – in investment and support for entrepreneurship. We need to include Polish SMEs in investing in young people, startups, and programs that develop entrepreneurship. Many innovators cannot find financing and end up finding it abroad. It is in our best interest to support aspiring entrepreneurs here in Poland, ensuring that capital and intellectual property remain in the country. We must build a strong ecosystem of startup support and invest in technology; otherwise, we risk stagnation and becoming an assembly plant for Western countries.

What do young inventors need to spread their wings?

I don't know if they're missing something. Perhaps experience, perhaps role models from those who have achieved success. Mentors who will guide and pass the baton on. We definitely need stronger systemic incentives for investors to make them more willing to support innovative solutions. It's clear that young people are still learning, but there are acceleration and incubation programs that mitigate the risk of such an investment. So, you can position yourself at the "end of the path," and once the solution is more tested, invest with less risk. I see enormous potential in the young generation, who are already growing up in a different reality. They are hungry for success, have no inhibitions, speak English fluently, and think globally. On June 13th, as Youth Business Poland, we organized the final Future Crunch Conference at Google Campus, summarizing the successes of young startupers. Some of them were 16 years old. Ten projects were presented, and what they managed to achieve during the four-month acceleration exceeded our expectations. The results of their development, presentation, and business understanding were in no way inferior to those of their seniors. I remember Sam Altman visiting Poland in 2024 and saying, "What you do and how you do it, you have the best engineers and talent in the world." I think this is a good summary of why we should invest in young people and talent to stay and build companies in Poland. This is also well illustrated by the example of a Polish unicorn (literally "unicorn" – editor's note), a startup valued at at least $1 million and not listed on a stock exchange. I'm talking about ElevenLabs, which achieved this valuation just two years after its founding.