Nanotech is a hot area for venture capitalists, but many of the startups lack business experience.
Nanotech startups are great investments and have great technological potential, according to venture capitalists, but like a regrettable number of IT startups, many need to learn simple business rules such as delivering an actual product and producing revenue.
Speaking at the New York Venture Group's MasterClass Forum, a panel discussion for VCs and entrepreneurs in New York on Thursday, Edward Moran, director of product innovation for Deloitte & Touche, said that in the last two months he's seen a "real uptick" in the number of proposals for nanotech startups. About "10 companies a week coming forward with business plans," Moran said.
But not all the plans are worth pursuing. Many hopeful entrepreneurs are scientists and researchers armed with the technical knowledge to make nanotech work, but no business savvy. "There are a lot of companies deficient in how to bring a product to market," said J.P. Morgan Partners senior associate Jason Friedman. J.P. Morgan addressed that problem in February, he said, hiring Hewlett-Packard vet Alan Marty to serve as an "executive-in-residence." Marty's job is to work closely with potential entrepreneurs, helping them from concept to execution.
Glenn Falcao of Bessemer Venture Partners said properly guided startups should prove not only rewarding investments, but a major source of new technological breakthroughs. "If you look at the semiconductor industry, a lot of the innovations didn't happen at Intel, they happened at smaller companies. I think this is going to pan out the same way."
How Enterprises Are Attacking the IT Security EnterpriseTo learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Infographic: The State of DevOps in 2017Is DevOps helping organizations reduce costs and time-to-market for software releases? What's getting in the way of DevOps adoption? Find out in this InformationWeek and Interop ITX infographic on the state of DevOps in 2017.
IT Strategies to Conquer the CloudChances are your organization is adopting cloud computing in one way or another -- or in multiple ways. Understanding the skills you need and how cloud affects IT operations and networking will help you adapt.