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Lawyers, Corporations, Capitalists Talk RFID IP
Venture Capitalists are looking for more than a hot new technology
Wednesday, June 1 2005
Wanted: innovators who anticipate the complexity of future RFID networks
By Steve Smith
You know that line chart projecting billions of revenue for the RFID market by 2008? Leave it out of your next pitch to venture capitalists.
“Everybody’s got the hockey stick chart,” says Aaron Cheatham, principal at Mobius Venture Capital.
Claiming that your company will ride the same wave of RFID revenue as everyone else is among the most common mistakes RFID startups make when trying to woo VCs. And too many companies regurgitate the same IDC tech research when they cultivate investors.
Pitches like that tell VCs that you have no unique market insights to share. Half of being a VC is determining where general industry knowledge is wrong, says Cheatham.
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