Source: Wikipedia
I was in Arlington Texas yesterday at a conference called the World's Best Technologies (WBT) Showcase. No I'm not kidding, that was really the name of the conference. The conference was targeted at University commercialization folks and start-ups derived from University research. I was asked to speak on the topic of Financing University Entrepreneurial Start-ups. We discussed all of the classic issues that plague University start-ups from licensing to getting "gap funds".
In the afternoon, I attended a session called, 2008 Hot Investment Markets and Sizzling Sectors. The Panel was moderated by Bill Reichert of Garage Technology Ventures. Bill asked the panelists what trends they saw and technologies would be the next big thing. Bill did a great job encouraging them to talk about pain points and solutions in plain English, so everyone could understand. Bill then opened the mic to audience and it was a complete disaster. Speaker after speaker spoke in techno-babble such that you had no idea what the company was doing. You'd hear stuff like
"our technology allows you to effeciently generate ultraspecific molecular signatures for the identification of target genomes in the presences of background genomes" or
"we have identificed a previously unrecognized physical phenomenon and patented a device that enables the compay to see checmical reactions, biological reactions and radioactivity based on their specific and unique electromagnetic radiation characteristics"
Over and over again, Bill tried to ask, so what is the problem and what is the solution?
It reminded me, that no matter how complex the technology, you MUST be able to describe it and its benefits in plain english to the average Joe.
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