How to build an AI startup according to Esther Bisschop

November 12 is the big day: the finalists of the AI Pitch Competition will take the stage at the Evoluon in Eindhoven. During the intermission, Esther Bisschop, founding director of the AI hub The Stack, will speak. She knows better than anyone how nerve-wracking such a stage can be for young founders. As a tech entrepreneur, she herself regularly stood in front of investors and clients to pitch her company. Her most important advice to the finalists is simple but effective.

The AI Pitch Competition is all about young AI companies with big ambitions. But no matter how big the ambition, every startup starts small. That means pitching your idea to investors time and time again, finding talent in a tight market, building a product while the technology is constantly changing, and trying to retain customers along the way. In short, young AI startups have their work cut out for them.

If anyone knows what it’s like to be in that position, it’s Esther Bisschop. She co-founded the tech company Th3rd, which was acquired in 2022 by Snap, Snapchat’s parent company. She’s now embarking on a new chapter: The Stack, a home for the builders of startups and scaleups that focus entirely on AI. It’s no surprise that she’s the one taking the stage to give a presentation during the AI Pitch Competition.

Spotlight on AI companies

When asked if initiatives like the AI Pitch Competition excite her, Bisschop replies unequivocally: “Absolutely. The whole reason we started The Stack is because innovative AI companies need more attention.” This is especially true given the explosive growth of the technology. AI has long been intertwined with our daily lives. According to Bisschop, that role is only growing. “We used to talk about internet companies and non-internet companies. Ultimately, of course, everything became internet-based. I can imagine that in five or ten years, there won’t be any companies left that don’t work with AI.”

The next phase of AI

According to her, the most interesting developments aren’t limited to Large Language Models (LLMs). She cites Cradle as an example—a company that uses AI to discover new molecules and proteins. According to Bisschop, a significant part of the future also lies in combining AI with deep tech. “That’s an area where the Netherlands is already very strong. Think of AI applications in robots, cars, and industrial systems.”

The Stack: people with the same DNA

More and more AI startups are emerging in Europe, but according to Bisschop, they need to be able to develop faster than they currently are. “Because Europe is lagging behind in the field of AI, we feel a great sense of urgency to get it off the ground quickly.” The Stack is meant to help with that. Bisschop compares the hub to initiatives like Station F in Paris and Merantix in Berlin: places where people with the same DNA come together. “We want to attract builders, investors, and talent, and ensure that talent can innovate and grow much faster than has been the case so far.”

The Stack is still young, but it’s growing fast. “I started last summer. We’ve since opened the first floor.” In the coming months, a new floor is set to open every month. As a result, The Stack will expand to 4,500 square meters in the first phase, accommodating about 30 to 40 companies. Eventually, the hub is set to grow to 12,000 square meters.

A European AI hub

Ultimately, The Stack aims to attract not only Dutch AI companies but also startups and scaleups from Europe and perhaps even beyond. This international perspective aligns with Bisschop’s vision, for whom the world has always been bigger than the Netherlands. As a result, The Stack also functions as a national AI hub.

Travel has always been an important part of her life. “I have a strong connection to Latin America. I lived in Mexico while I was in college.” She speaks Spanish and, in 2017, took a long road trip through the region with her then-husband and their young children. There, too, she sees AI rapidly gaining ground. As an example, she cites the Brazilian CEO of Prosus, who, in her view, is applying AI in an impressive way within the Netherlands-based company.

A tip for young AI startups

From Latin America back to Eindhoven. Bisschop is looking forward to the finals on November 12. She already has a few tips for the finalists who will be on stage that day. “Practice, practice, practice. You’ll see: the more you do it, the better you’ll get. Speak often, know your story well, and record yourself to review it critically.” She finds one thing particularly valuable in this regard: make sure the first few sentences are perfectly memorized. “Because when you say those first few sentences, that’s when you’re the most nervous. Once you get past that, the rest comes naturally.”

Pitching is one thing. Growing a business is something else entirely. Does Bisschop have any advice for that phase as well? “Together with the team around me, I’ve built a business from the ground up on several occasions. By now I know that when you’re dealing with momentum and things need to happen right now, it’s less important that everything is perfectly thought out. The team needs to make sure something is up and running, and then you build on that foundation.

In other words: not everything has to be perfect right away. Just get started!