● Make sure you have an addressable market.
● The idea must be something that others can't easily do/copy.
● When seeking funding you must have more than just an idea. You should have developed sophisticated algorithms.
● Is there a barrier to entry? You need to have patents filed for your product/idea to discourage others from copying you.
● Make sure your presentation isn't feeble. Coming in with 142 slides wont work. I wouldn't even look at them. You need to convey your concept in no more than ten slides.
● Know your competition.
● Prove your credentials, ie: Are you a repeat entrepreneur? Have you don't this before? Often the person is just as important as the idea, if not more so.
Dr Ed Mlavsky is the founding partner and chairman emeritus of Gemini Israel Funds and is widely recognised as one of the founding fathers of Israeli high-tech and venture capital. He is chairman of the MIT Enterprise Forum of Israel.