The following sentence appears early in this chapter:

“There are three reasons that most entrepreneurial ventures need to raise money during their early life:

cash flow challenges, capital investments, and lengthy product development cycles.” Evaluate Revolights’

need to raise money in each of these areas.

One evening in October 2010, Kent Frankovich was riding his bike home from work. He was completing a research project at Stanford and was running back and forth to the lab a lot at night. The area in front of him was partially illuminated by his handle-mounted bike light. He entered a particularly dark stretch and hit a pothole. It nearly threw him off his bike. It got him thinking that there must be a better way to illuminate the path in front of his bike.