The Most Important Trait For Startups #shorts

So what's the most important trait you look at for a startup before investing?

Well, the most important trait for any startup are the people. But before we meet the people at Draper Associates, we evaluate 80,000 entrepreneurs a year. We have to filter through all those opportunities and come to the ones where the technology is unique as it applies to a market that needs transforming to wedge into markets that are currently covered by incumbents. And those incumbents are providing generally bad service at a high cost. So right now, who are the incumbents that you think of? And I think immediately big pharma comes to mind, big insurance comes to mind, big banks come to mind, big accounting comes to mind. Those are the industries I'm looking at transforming, and I do it by funding entrepreneurs that are going into those industries with a really interesting new approach and a new technology that provides better service for their customers.