At the seed stage due diligence is less rigorous (not that investors are willing to buy into anything) rather that the investors are interested in the promise of the concept (whether it is a viable concept) and whether the concept is based on a solid operating model. Beyond these considerations investors would largely concern themselves with glaring issues of potential risk such as whether the company is in good standing any issues related to ownership of IP vital to the concept coming to fruition or disputes between founders, contractors or other third parties.
As the startup progresses further into additional funding stages the expectation will be that the any proof of concept issues be sorted out, assumptions regarding the concept’s role in the market be proven with solid methodology and any administration legal loose ends are tidied up.
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