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August 17, 2006
Pasta and fish - Part 2
The long and winding road
The initial idea was to build a company around an Open Source product for the mobile industry. An idea that had originated in discussions with a couple of US Open Source visionaries was deemed viable to be adopted by our two friends. The idea seemed sound and initial talks with potential funders and conspirators on both sides of the Atlantic suggested potential. Our two caped heroes wrote and revised business plans and pitches. Many times. No, really, many times. Meetings were organized with VCs and possible customers - even a prototype was built. Many lessons were learned - but in the end nobody was prepared to take heart in our team of would-be entrepreneurs. So, after eight months work, the idea was shelved. It was Christmas in Germany and not only the weather was miserable.
Luckily, the two had a Plan B.
- To be continued.
Posted by Matthew at August 17, 2006 09:17 PM
Comments
Re-reading the fine notes about 'lessons', I wonder whether they aren't proof that VC money is tainted right from the beginning. Whether it's through selling or an IPO, their long-term strategy is one of exit. And the beauty of open source-based business might just as well be that you're finally able to start a business without VC.
Posted by: Steven Noels at August 18, 2006 12:47 AM