Turning Innovation Into Enterprise

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Launching a Tech StartUp

June 6, 2012
Tom Aman and Guy Peduto discuss tech startup strategy at Teaming to Win 2012

When launching a new tech startup, success hinges as much or more on the person than the idea, and a common weakness is the lack of sound  market analysis.  These are two of the insights shared at a seminar hosted by TechConnectWV during the recent Teaming to Win conference in Morgantown.

Members of TechConnectWV’s board discussed the steps that tech entrepreneurs should take in launching a business, starting with developing a solid business plan; conducting due diligence on market analysis and finances, in particular; determining who is the best person to lead the company (and it may not be the inventor); and how to best utilize a board of advisers.

It takes a solid team to build a successful new venture, and entrepreneurs need to put the right people and leadership in place, or find a strategic partner who can perform this role.  Commercialization and tech transfer support, as well as help in identifying potential capital and other startup assistance, is available through several organizations and agencies in the state.  Check out our Resources section for more information.