Not necessarily. It takes less than 100k to start up a company and get it to the BB. It does take 3-9 months and alot of paperwork, but at least you know what you have at that point. The other way is to buy a shell. WNSH, for example, was bought for $2k, but has alot of dirty laundry so may not have been worth it. Others can be bought that are cleaner for varying amounts. Peter has been looking at one for about $135k. Until the DD is done, he won't know if it is the right one or not. I personally wouldn't mind building a clean shell and moving forward as I was never one to pick up after others.
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