« No market need »
Your innovation certainly solves a problem, but will it sell by responding to a need on a large scale?
« Ran out of cash »
There is a « chasm » between the interest from early adopters and the one from the early majority of buyers. Meanwhile, the industrialization of your prototype and the commercial development requires the increase of your working capital. It is a critical period during which the capital expenditure is accelerated: you cross the « valley of death ».
« Not the right team »
A winning team of entrepreneurs must be able to find the right balance of technical, clinical and business skills and agree to seek outside advice