The two most important assets for a biotechnology start-up are new innovative technology and a road-tested business model. In software, unfortunately, both are often lacking. A software product is usually made up of variations on generic methods in computer programming—-relatively easy to replicate and worse, usually unpatentable. That's a problem, but the lack of successful, high-value business models to build upon is a worse one.
Nonetheless, companies such as the newly founded Molecular Mining Corp. are created—and get VC funding—-because a clear opportunity exists....
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