What does a VC ;look for when they invest in an Entrepreneur or an innovation

"Tim Draper: We look very hard at two things: the individual entrepreneurs and the company's markets. Entrepreneurs are by definition heroes. They must have an intense dedication to what they are doing - one that will overcome all odds. We also look for the 'change the world' factor. We see 20 plans a day, so eventually we run into some serious innovations. We're seeking companies offering significant improvements over existing technology that could, if there is a large enough market, change the world. We're also investing in a team of people. Management has to be committed to getting the best people possible for the jobs - people who can do those jobs better than the founder. And the founders must be willing to give those people enough of the company to make it work." - Tim Draper in The Culpepper Letter