TechGC: I am being an armchair quarterback, but for me, the time is NOW to invest heavily in engineers to speed time to market, obtain revenue, rinse, repeat. He who strikes first with a compelling III-V solution for mainstream markets will get first mover advantage and a ton of momentum.

Agreed, TechGC. However, there's no need that these engineers are your own right from the beginning. You could start with, say, 30 to 40 engineers of a multi-billion company.

(Disclaimer: I am also an armchair quarterback.)