How entrepreneurs relate to their opportunities remains a puzzle that obscures scholarly understanding of the opportunity itself. This paper develops theory on why some entrepreneurs seem to focus on developing a technology while others focus on a customer need. We propose that entrepreneurs are alert to different kinds of information and that these differences can be measured during the venturing process. We hypothesize that alertness to customer needs and alertness to novel technology will be curvilinearly related to investor engagement, such that greatest engagement will be achieved at moderate levels of both.