Based on the material covered in this chapter, what questions would you ask the firm’s founders before making your funding decision? What answers would satisfy you?

Business Idea: Develop a 24-hour-a-day, convenient, ondemand ice vending destination offering fresh, clean ice at a competitive price.

Pitch: Think about the experience of buying ice. You go to a supermarket or a convenience store, reach into a freezer compartment, and pull out a bag of ice that is partially stuck to other bags. You then bring the bag home and slam it on the counter several times to break the pieces of ice apart. If you’re lucky, you don’t think about how the ice was made.

It’s normally made at a central location, bagged, loaded on a truck, and carried into the store on a cart. The bags have tiny holes which allow them to “breathe.” Unfortunately, the holes can also allow germs and other contaminants to be transferred to the ice. This is the ice that you put in the glasses of your family members and guests.