Is this Your Commuting Future?
It would be unfair to say the Greg Caws, the BC Innovation Council’s president and CEO, doesn’t believe in Kroll and his Solo. But, in Caws’ experience, he has several reasons investors might be wary. First, he explains, is the Early Adaptor Syndrome – an inventor’s belief that the initially enthusiastic few represent the cautious many. He mentions, as an example, the Segway personal scooter, once touted to be ubiquitous, as a classic case of over-sell. He underlines his concerns by explaining that venture capitalists, the ones who drop big money on IPOs, tend to be leery of relatively unknown startups. They’re looking for some serious return. And they know that every new product must face the assault of competition.
Says Caws of Kroll: “He’s in a David and Goliath situation. The large car companies will try to crush him. To succeed in innovation, you have to be a great future forecaster. You have to get it right. The only determinant of entrepreneurial success is tenacity.”
Read the entire article in The Tyee >>