Research and Innovations

Is starting a start-up an innovation? Looks like but not. Anyone can do a start-up with some money. Whether the start-up will grow into a proper company depends largely on the basis for starting it. Someone was once approached to be “CTO” by a student. He seemed very excited and said that he had something special and a wealthy investor would bring in one million for the start-up. This sounded like something interesting. A meeting was arranged for a discussion with his buddy in a restaurant. While he wanted the “CTO” to sign a non-disclosure document, he was asked whether the wealthy investor had pass him the money? The answer turned out to be a “no”. Further into the discussion, the “CTO” discovered that the invention was a piece of software that would run on mobile phone for searching names in a database. The important question was whether someone else had done it – a resounding yes. Is there technological barrier for the invention? Clearly no. So, it was clear why the investor was giving lips support. There goes the idea back to the drawing board. It is always good to dream and some dreams actually come true. Do not be dismay if one failed, get on your feet and move on.

This entry was posted on Wednesday, October 28th, 2009 at 3:10 am and is filed under Venture funding. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.