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What factors will increase the likelihood of success in raising capital in today's choppy markets?
In a nutshell, a good idea must be accompanied by the following: a strong management team; proof of concept (beta testing is a minimum requirement); pre-institutional financing support in place; laser like focus on customers (branded, referenceable accounts are extremely helpful); revenue traction; clear path to profitability; strategic partner; scaleable business model; industry recognized board of directors; first mover advantage or a space that is not overcrowded and undifferentiated; and a necktie (according to one venture capital player).
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