Another aspect besides the field which others gave great insight about, one aspect is costs and access to capital. When I decided to go the startup route I had

Another aspect besides the field which others gave great insight about, one aspect is costs and access to capital. When I decided to go the startup route I had a strong idea, validation from potential customers, high barrier to entry for competitors, very small amount of software dev to do, etc. Only problem I needed between 500k-1M€ of starting capital to get the idea rolling. I only had less than 50k€ in my name. I found potential investors but obviously a very large dilution factor. I switched to another idea, which required considerable amount of software work that I could do before creating the company but needed about 50k€ of starting capital. I went that route, found cofounders, a team, etc...and so far, 6 years and a few small rounds, we raised about 1M€ and are one of the only players in our field to be profitable, despite competitors having raised significantly more. Recently I had a look at another problem I could solve in an entirely different field (which I know little about). I estimated startup capital at about 5M€ to reach MVP. Guess what? A few weeks ago a joint venture between major players in this field announced a 3 year R&D programme and 25M€ investment. There is no way I could beat them.