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Investors Fund Solutions Rather Than Technology
December 6, 2011 /
Too many entrepreneurs develop a new product without regard to market demand, then build an entire strategy based on creating a need, rather than acting on an existing market need. Investors characterize this approach as a "solution looking for a problem." These don’t get funded.
The best startups find a way to drive the market with their technology, rather than push their new technology-driven ‘solution’ on the marketplace. An example of market-driven technology is the basic automobile, but combining a car with an airplane is technology looking for a market.
By Martin Zwilling
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Posted in: Funding and Building your Business