[geeks] Discuss this quote...

[Geoffrey S. Mendelson]

On Mon, Aug 27, 2007 at 03:44:12PM -0400, Phil Stracchino wrote:
> If I ever became rich enough, I'd like to retire and then start
> sponsoring basic research into important areas that aren't getting
> enough attention now, either because there's no immediately evident
> profit to be made from them, or because they'd threaten some established
> industry's captive cash cow.

I have a friend who is writing a book on starting a startup, writing
a business plan and enterpeneurial finance because there is nothing
being taught here, and all the Hebrew books are translations of foreign
books which are not applicaple. 

He's writing it in English, but expects to have it translated into several
languages.

BTW, you don't need a heck of a lot of money to sponsor basic research.
There are lots of funds that will already if you can write a business
plan, do patent searches, etc. 

The paperwork can usually be done for under $10k. Software companies are
real cheap to start because all you need is a handfull of PC's an Internet
connection and some development software. The killer is wages and in the
U.S. medical insurance. 

If you keep your expenses down, you can go from idea to proof-of-concept
for about $100k. Once you get into filing patent applications, building
a real product, and supporting your customers, things get expensive. 

Here you can get that money from the office of the Chief Scientist, but
in order to get it you have to go through an incubator and they take
a large chunk of the equity. There are also many fake incubators which
are nothing but glorified office services for equity scams. 

If you really want to make a difference, go to night school and study how
to start a startup. If you do well, you will be able to retire, and
offer both angel funding and the advice the people need.

Geoff.

-- 
Geoffrey S. Mendelson, Jerusalem, Israel gsm at mendelson.com  N3OWJ/4X1GM
IL Voice: (07)-7424-1667 U.S. Voice: 1-215-821-1838 
Visit my 'blog at http://geoffstechno.livejournal.com/