5. Benefits vs. Features

A venture capitalist has read about your technology and has shown interest in learning more about your startup. When he and his associate come to the lab, you show them the research you have carried out in the last year. With your 200-slide strong PowerPoint presentation, you explain the features of the different technologies. This includes how you have improved on them by doing X, Y, and Z; an extensive list of software you used; and why most of it is no good to measure data with the precision you need. You show the statistical data that proves with confidence that this and that ratio have changed. Data from other tests is still waiting for processing, but once it is available, you can work on improving this and that ratio by so and so many percent. The venture capitalist and his associate both nod and say they find your work very interesting. They promise to stay in touch, and they leave. Since that day, you have not heard from them, and your e-mails to them remain unanswered.