"It is the one great idea that is missing. See Google. If we have a similar idea then we can do it too." This line came up in a conversation with a friend. I hear it often. But I beg to differ. It is the idea but not just the idea. It involves a lot of things. For starters, how about being in the right place at the right time. Sergey Brin and Lawrence Page were at Stanford in 1998. To work on that problem at that time you had to be there. And that turned out to be the right problem. It is very easy to say anyone, anywhere can work on similar problems. But very difficult to do it.

When it comes to funding, it appears some venture capitalists nowadays insist you move to Mountainview, CA. But you have to be atleast in the U.S. They say the environment in Bangalore is getting better. But the prospects are not as shining as they are in California. Check out an article by Paul Graham on "Why Startups Condense in America". (Though I don't agree with the swarm of beggars thing !)

That article addresses a lot of issues for a startup. But they are mostly in the macro level. At your company level, once you have the idea and get the funding still there are lot of uncertainities. Building a great product from the idea, finding the right people do it, marketing it and doing all this fast and profitably. It isn't just the idea. It starts from the idea but it is more than that.

When we are at it let us just think about what will be the next great idea ? Even if we aren't at Stanford or at California still we can see what the venture capitalists are doing. Check out the presentation on "India and Internet - A primer" by Ram Shriram of Sherpalo Inc. The last slide list the rules for startups. If you want to see all their presentations then check them here.

So where do you think the next great idea is going to take us ? Any idea ?