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Tuesday, November 09, 2010

challenge in Due Diligence

Checking on promoter's intention is a big challenge in providing public funds to start-ups. I had my share of failures in spotting shady characters. Read this story of X Prize giving prize money  $2.50 million to Li-Ion Motors uncovered by NYTimes. Is the person behind the scam (Salim Rana) of  Indian origin? 

1 comment:

Webmaster said...

Well, it depends on who do you wish to fund? you want to fund a existing company? you should pay attention to what they have done, what they do and what they intend to do in the future.

These days all most all funding comes along with a note mentioning what you can do & what you can't do with that money.