The panelists at the event discussed the current state of high tech entrepreneurship. One panelist mentioned that if one had a vision for a business, he/she should just go out and do it, especially if the individual was able to code on his/her own. One who knew coding would be able to start a business with few costs. If someone studied an idea too long, it was easy to come up with many reasons why the idea would not work so that is the reason for going out and starting the business right away.
Another panelist interjected that one had to consider the competition and ensure that the idea was thoughtful. The first round of capital was the most difficult round raised. The investor would look for commitment. It was rare to see a startup that was a mere business plan on a piece of paper. The entrepreneur should consider writing the code for the technology and convincing customers to use the product in order to show that the idea was something that could become a business. Traction developed when an idea was already tested in the market. An idea would become a business when customers buy the product.
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