Thinking you are wasting your time on networking? Research says founder network may actually matter more than skills, at least in funding matters. The idea behind the study (Banerji & Reimer, 2019) is simple:
“For the past 40 years, entrepreneurs and researchers have assumed that entrepreneur networks are important for startup ventures. This study takes this notion further by testing whether these benefits translate into tangible financial outcomes for a startup.”
What did researchers do? They cross-referenced the data from two rarely connected sources: CrunchBase and LinkedIn. Findings? You might be surprised: Network came as the strongest factor, then industry experience and skills didn't have any significant impact when looking at the funding success of startups.