One of the things I am very disappointed with is that I know so little about so many markets and their opportunities.
As a selection team (we have 4 internal Microsoft and 6 external members – VC’s, angel investors and experts) we know more, but still our experiences are fairly limited compared to the entrepreneurs who apply.
We have so many applicants that are much more qualified than us, that it seems like we are under qualified to make these decisions on which companies to help and which ones to fund.
I have an idea for the next batch but I’d like some feedback.
Is it better to take a “wisdom of crowds” approach as well?
Should we take say 2-3 “slots” and provide the list of companies with an overview and plan and a selected list of say 100 people vote (with justification) on which ideas and companies should be funded?
Do you think it will work?
I dont want to give all the slots up for vote since there are some companies that are of strategic value to us.
One thing that it helps is avoid many more “Why did anyone fund this company” kinds of questions.
Please let me know your feedback.