Market – This is especially relevant to VCs. They will want to see an addressable market of at least $1 Billion (yes ,1000 $millions). Otherwise, they cannot expect to achieve X 10 on their investment. This can be explained based on their Return Of Investment (ROI) model, but I won't go into it now.  The problem is that when you do show them "the money" (huge market), then they either slice & dice it down to a much smaller one (fair enough); or come up with something like: we need to see proof in revenue generation and customers. But, if you had millions of revenues, why would you look for funding in the first place…

Team – This one is often overlooked by so many entrepreneurs. I often see a "one man show" (startup) that claims to have invented the new technology for Cloud  Computing or the most efficient Bio-diesel formula. Now, if even Dov Moran (ex M-systems) from Modu has built a great team for his mobile venture, why do you think that you can take on a formidable task on your own? Sadly enough I see some entrepreneurs that are running against a brick wall for many years, not realizing that they are better off sharing their idea and equity with one or more founders who have the capacity to execute and have a success record in their resume. The problem nowadays is that if you are not one of those lucky ones who have a successful exit to show, the VCs will be very reluctant to invest.

Technology – This one is a bit tricky. Investors and VCs will say that this is a critical necessity for an investment. But, most of us can easily come up with many examples of exits (true, mostly in the Internet space) that were NOT based on any Intellectual Property ( IP) or state-of-the-art technology; ICQ, MySpace, Skype or even Kassamba, come to my mind. The more accurate answer is "it depends". It depends on the industry: In Biotech and medical devices IP is usually a must, but in software or Internet, the ability to execute and timing are more important. That said, many investors require a unique technology and patents in order to help justify their investment decision.

Do you have a different view?