The first time I brought up the idea of starting a company to my PhD advisor, he was very upfront, stating he didn't care about money. What I failed to understand back then was that even if he didn't care about money, there were many ways in which he could support my journey. In turn, that path would have been an instrument to support his own scientific objectives.

Different founders will have different perspectives, and it's always useful to have honest chats to understand where each one stands.

For example, an academic founder, such as a professor, may not be motivated by becoming rich. However, they most likely have other interests, such as increasing the visibility of their research or advancing their career by crossing the checkmark on having a tech transfer activity.

On the other hand, younger scientists, those who most likely will transition into the new company full-time, may be motivated by other dimensions, like prestige, autonomy, or financial gain.

There should be no shame in understanding what motivates each one. Especially in some academic circles, it is very easy to hear things framed as a dichotomy between making money and pursuing pure scientific interests. Depending on the culture of the place, entrepreneurship may even be frowned upon by professors or peers.

Entrepreneurship can also be regarded as a challenge in itself, and therefore the rewards can be intrinsic. Growing a company goes much beyond making money. It means creating jobs, adding value to the economy, and solving complex problems every single day.

There are no right or wrong motivations when starting a company. Knowing them, and knowing the motivations of your co-founders is fundamental for the moments where hard decisions must be made. For example, people motivated by financial gain may be willing to give away control more easily than those who seek autonomy and influence.

If you know where each one stands, you can more easily anticipate and spend time ironing out the difficulties that will appear when you are in a critical spot (such as receiving a purchase offer for your company.)