Matej Ftáčnik

FORGING STRENGTH. Matej Ftácnik’s journey as an entrepreneur is deeply rooted in resilience, shaped by his early years growing up in Slovakia during the post-socialist era. Born into a family of physicists, Matej was raised in a world where entrepreneurship was viewed with suspicion. “Entrepreneurship was a naughty word,” he recalls, reflecting on how his parents, who were dedicated researchers, initially saw business as something reserved for those who skirted the rules. Despite this, Matej found himself drawn to the possibilities that entrepreneurship offered, even if it meant stepping away from the path his parents had envisioned for him.

Matej’s resilience was tested early on, not just in his professional choices but also in his personal life. Coming out as gay in a conservative society was challenging, yet he found the courage to embrace his identity. “Coming out as a gay man was one thing, but coming out as an entrepreneur was another,” Matej shares. Surprisingly, his family, who had been wary of his entrepreneurial ambitions, were loving and supportive when he came out.

One of Matej’s first ventures, The Spot, was born from his belief in the power of community. Matej realized that Slovakia lacked a supportive environment for budding entrepreneurs. In response, he co-founded The Spot in 2011, the first co-working space in Bratislava. “We needed a physical space to support this vibrant community of entrepreneurs and investors,” he says. The Spot quickly became a hub for innovation, sparking a snowball effect that attracted venture capitalists and ignited the local startup scene.

Matej’s success with The Spot later led to the co-founding of Vacuumlabs in 2014, a company that has grown into a team of over 250 experts in product development and software engineering, particularly in the fintech sector. “We connected exceptional engineers and product people with outstanding founders from around the world,” Matej explains. Together with his co-founders, Vacuumlabs not only built state-of-the-art solutions but also fostered new ventures, including a financial institution for the LGBTQIA+ community in the United States—a groundbreaking project that underscored Matej’s commitment to creating inclusive, impactful businesses.

Today, Matej is channelling his experience and passion into his latest venture, Radish, a financial services company designed to provide affordable, needs-based loans to underserved communities. “Radish aims to make a real difference by offering financing solutions that are life-changing, not just transactional,” Matej says. The company is exploring partnerships with organizations that, for example, could assist gay couples with surrogacy, immigrants seeking re-accreditation, and elderly people needing mobility aids, among others. “It’s not about financing iPhones; it’s about doing something meaningful for people.”

MEANINGFUL IMPACT. Throughout his entrepreneurial journey, Matej has learned invaluable lessons that he carries with him into every new venture. “It’s all about the people,” he emphasizes, recognizing the critical importance of co-founders, hires, and partners in the success of any business. He also notes the necessity of flexibility: “The North Star seldom changes, but the path to it will. You have to be ready to pivot and adapt.” Matej also underscores the responsibility that comes with leadership: “As an entrepreneur, you’re the least independent person in the room; you’re serving everyone else. That mindset is key.”

For aspiring queer founders, Matej’s guidance is straightforward and empowering: “Forget about the LGBTQIA+ part. That’s part of your history, your DNA. Instead, focus on being the best entrepreneur in the room.”