Advice for Start-Ups #MIS2015

At the Cleveland Clinic Medical Innovations conference

Charlie Lougheed – Chief Strategy Officer at Explorys, acquired by IBM and part of the Watson cloud solution has some great advice for start ups

  • You have to be able to build a team, yes incentives, stock options are important – but there needs to a great mission that they believe in.  They need to believe in you, the CEO
  • Pay attention to companies doing well in the market, what can you learn from them?  And don’t trash them – they may end up acquiring you!
  • Have a support infrastructure available.  Cleveland Clinic were a great support for Explorys and even introduced them to customers
  • Have a good idea, a good one is good enough! Great ideas are usually overrated and distracting
  • On being acquired – is the acquiring company aligned with your mission and a good fit?  If not do your best to keep going and raise more funding
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