Perhaps the most common reason for technical entrepreneur funding failure is that they will develop a new technology, because they love it, without regards to the market demand. They will then build an entire strategy based on creating a need, rather than acting on an existing market need. Investors characterize this approach as a solution looking for a problem. These don't get funded because they usually fail as a business.
The best technical startups find a way to drive the market with their technology, rather than push their new technology-driven "solution" on the marketplace. An example of market-driven technology is the basic automobile, but combining a car with an airplane is technology looking for a market.
New technology really doesn't have any value until it is integrated into a market-driven solution. Here are a few thoughts on a process that will keep you on the right track:
Get real customer input first: Temper your product with actual...