A lesson from Axelera AI’s CEO: ‘Don’t have a plan B’

“If you know what is going to happen, you probably won't start a company”, says Fabrizio Del Maffeo during the start of this interview with IO+. That insider’s wisdom of Del Maffeo, CEO and co‑founder of Axelera AI, gets right to the heart of what entrepreneurship really feels like. Founded in 2021 in Eindhoven, Netherlands, Axelera AI has skyrocketed from a startup to a leading European AI processor designer in only a few years. Axelera AI builds fast, energy-efficient AI chips and software that let devices and companies run complex AI tasks. The company has recently raised hundreds of millions in funding. What entrepreneurial mindset drove this success? In this article, an important lesson from Del Maffeo.

What’s the most important lesson you’ve learned as an entrepreneur?

“Starting a business is going to be tough; tougher than expected. I started this company simply because I completely underestimated the effort. If you know what is going to happen, you probably won't start a company. As an entrepreneur, you need to be a little bit crazy. The lesson that I learned is that it’s absolutely essential to stay focused and never to have a plan B.”

Why is it important to never have a plan B?

"A lot of people make the mistake of thinking, 'If things go wrong, I’ll do X.' I think that’s wrong, because it means you’re already dividing your focus and energy. Many of us actually perform better under pressure — when we have everything to lose, we give our all to protect what we have. If you rely on a safety net, you won’t perform at your best, because part of you is already preparing for an alternative.” 

How did you learn this lesson?

"It took me one and a half years to start this company. We faced rejection again and again. I’ve been surrounded by people who doubted us, who rejected us, who thought we were crazy and would never make it — from the very beginning and throughout the journey. It’s a constant challenge. 

One of the toughest setbacks came during a funding round when a lead investor pulled out just as a term sheet was about to be signed, leaving the company with only a few weeks of cash. That kind of crisis — where firefighting becomes your daily job — is something founders face again and again. But I have learned to stay solid, be strong, and not take it personally. Never give up."

For many people, not taking things personally is easier said than done. How do you manage to stay detached in high-pressure situations?

"Many of us are scared of failure, especially in Europe. But what is failure, really? Are you going to die? No. When you step back, you realize that fear of failure is often personal — it’s your ego not wanting to admit defeat. Understanding that has helped me navigate difficult times. I think it’s wise to put your ego aside sometimes anyway. Entrepreneurship is never a one‑man show; the team is everything. Surround yourself with people who are smarter and better than you, because if you want to build something truly big, your success depends on the people around you."