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In my (limited) experience, running an early stage startup is less about innovation and more about drive to get things done. Then again, I work with people who are good at what they do and fully invested in the project. Nobody is getting a salary (and probably won't for at least a year), so that tends to weed out the mediocre players.

We're early phase, and I realized recently that if I could hire any developer that I've worked with in the past that all of my top 3 (one of whom we recently hired) were college drop outs, and in general, I'd actually bias my decisions slightly towards those who had completed degrees. This surprised me a little.

i guess being stoned all semester is outside the box