This is a long article. First comments by Joe Hage on LinkedIn about a panel discussion at the recent IN3 conference in San Francisco. Then the full transcript at the bottom.
Got a $10-million idea? Who cares!
Joe Hage Medical Device Marketing Consultant, Medical Devices Group Leader, 10x Medical Device Conference HostTop Contributor
This may be a sobering post for entrepreneurs.
You may be working on the wrong project.
Go pick a bigger one.
That's essentially what a panel of experts told me this month at the IN3 conference in San Francisco. We were discussing financing options for medtech startups.
Read the entire transcript at http://medgroup.biz/startup-financing
I asked, "What about the guy who has the $10 or $20 million idea, where does he go?"
Serial entrepreneur Danny Sachs answered, "Pick another project," and continued, "I mean, you’re going to spend as much time and sweat on a $10 million idea as a $500 million idea."
Fellow entrepreneur Scott Wolf added, "We all basically agree with that. There's only one way to exit on an idea for investors or founders to make money on an idea: Sell to a big company.
Big companies aren't interested in $10 million ideas unless they fi...
