Every company was once a single person with an idea
innovationanarchy.com
innovationanarchy.com
That said, I would have liked to see some acknowledgement that the original idea is rarely the one that generates value. The "single person with an idea" by itself places too much emphasis on the value of the idea versus the dogged persistence and willingness to throw that idea out the window as needed.
Roger. The individual with dogged persistence is where the value comes from. More so from persistence of potentially rewarding ideas rather than pursuing fickle sources of capital.
Nicely motivational and it looks like an advertisement to attract midwestern entrepreneurs, too bad this particular group is not about to even consider an individual or even a small team unless they have already attracted overwhelming interest beforehand:
"iSelect identifies and invests in promising early-stage, private companies with more than just an idea. Our companies have already raised at least $250,000 through the “friends and family” round or received significant non-dilutive financing through grants or other sources. The entrepreneurs we work with are moving beyond concept to commercialization, but require more capital for further development."
Then again they are not about to show interest unless the "single person with an idea" has already attracted interest from even more elusive capitalists whom they can ride the coattails of:
"iSelect does not lead transactions. We only co-invest alongside sophisticated investors such as venture funds, reputable angel groups or family offices with domain experience. Prospective companies must already have, or be in discussions with, a sophisticated lead investor willing to set the price and terms of the round."
Looks like they have the perfect formula to exclude individuals like Jobs, Zuckerberg, Ford, or especially Edison unless the individual has already gotten the momentum to devote more effort to fundraising than actual development of their winning ideas.
Typical.
I manage iSelect. I too have to get money from others. Those investors have a certain risk profile. iSelect works to find companies that fit their needs. We close a gap with iSelect, not all gaps. We have funded many companies that otherwise would not have been funded. Those companies are growing.
The gap between an idea and funding creates other challenges. Success comes from execution and listening to customers, not an idea. It is not just about funding.
I have spent a long part of my career working on the early stage gap. Succeeding and failing. In time I will close that gap. If others wish to help, please join the effort.
Thanks for your comments.
I did get the idea from this article exactly that you would like to have the option to invest in promising individuals to enable one of their cherished ideas to bloom from an almost blank page.
That's what made me look at your website, and was disappointed that the firm as a whole can not realistically do that any more so than the average VC's. You've got to have similar guidelines that avoid the extra risk that would entail if you want to swim with the sharks without running out of air.
I expect you realize better than most that these limitations have kept your group from getting in closer to the ground floor on some of the very companies that you have successfully capitalized.
I guess to me I expect superior execution ability and customer satisfaction technique to be part of a winning idea.
First thing that happens is a chatbot pops up wanting god knows what with an annoying notification sound. I find its quasi-transparent X close button and click it, only to have a huge popup show up literally a second later, asking me to fill in my email for god knows what other reason.
I left the site. Fuck this.
Even most inspirational companies were started more or less along these lines.
Extremely few companies were started with a highly aspirational 'world changing' premise. Even the most aspirational brands we recognized, early on - they had no idea they would be as big as it they are.