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Engineers and Entrepreneurship

Engineers and Entrepreneurship - Erik Sander EGN6640 1...

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1 1 Erik Sander: EGN6640 Most tech. start ups fail in the first 5 years 80% of failures due to under capitalization, marketing & management not the technology Poor timing, fundraising, choice of expenditures Overestimating market demand; Underestimating costs Focus on tech. rather than business/market development Each technology development stage costs 2 10 times as much as previous stage Financing (General Stats) First 1M scraped together; Next $1 20M from sales/investments Less than 1/5th of companies with 40%+ annual growth haveVC Of 100 business plans reviewed by aVC 1 2 will get a call Of 10 presentations 1 will get financing Of 10 financed – 1 2 hit, 3 5 living dead, the rest fail 2 Erik Sander: EGN6640
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