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And while that cliché has been said about everything in the Lone Star state for years, it rings particularly true for the hottest startups showcasing their big innovations at SXSW Startup Night 2018 presented by the Kauffman Foundation and TechCo. If the user shares the add on socialmedia, they earn an extra $.25.
But they can otherwise save you much time and effort, and are also safer and more productive than the old-fashioned approach of broadcast emailing or cold-calling every investor you can find in online directories, or responding to the risky spam offers you get for funding on socialmedia.
Use socialmedia and the media to build demand for change. Elon Musk, for example, opened all his battery patents to competitors, with the expectation that this would expand the market as well as build the support infrastructure for his Tesla electric car market. New markets don’t just happen, or create themselves.
Patents, trade secrets, and trademarks are very attractive to investors, since these are not easily overcome by competitors. I would expect to see specific plans for distribution, partnerships, and sales channels, as well as the use of socialmedia and conventional marketing, with budgets for the major elements.
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