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Any advice on approaching VC or incubators prior to patent?

Is there anyone that’s been through the patent process as an investor, or as the inventor/business entity that has some advice or light to share?

I have more than a few patentable concepts for business method patents, and from my own preliminary search would be first-to-file on each.  While I’ve got the ability to implement them on my own from a technical standpoint, I find myself short on time (the PhD is a time-consuming monster), capital, and experience in the process of commercialization.

Since I realize that ideas are essentially worthless … I’m soliciting any advice, partnership, mentor, or other guidance from someone that’s been through the process in order to bring what I think is among the best of my backlog to market.

Background

While I’ve been expanding my marketing and branding experience through the process of launching the LiquiCig brand and The Vaping Shop as a distributor and retail company to fund the brand grown; I’ve also been helping Tara expand the business itself. I’ve been taking notes of gaps and difficulties in small-business platforms as I go; and in conjunction with my academic research I’ve been developing a framework and set of methods, systems, and technologies to fill them (more on that in a different post).

Recently, I identified what I think is a opportunity in a method to significantly improve on the ability to voluntarily collect valuable information in a highly targeted manner, and the simplicity of execution/distribution has brought developing the method as a platform and licensable piece of intellectual property to #1 of my list of supporting activities.

Applicability and Scope

The method would be applicable to marketing and data collection for any organization, and on any platform. They could add significant value to providers like SurveyMonkey and be internally applicable to organizations in developing their own visible dashboard of capabilities and experience.  It could be licensed as a method, or provided as an SaaS API to integrate with client platforms; and would be valuable to the enterprise holding the data (on the SaaS side) in generating independent revenue streams.

The closest competitor that I can think of is Google’s AdWords & I’m confident that with a little concept refinement – this method (and technology platform to drive adoption) has a larger scope & more accurate method of targeting as part of it.

Conclusion

So my question is … what’s next? I’m slightly capital constrained and am not personally familiar with any VC firms / investor groups that support patent search and development as licensees (or leaving me just as a royalty holder at the end).  The amount of advice online is mind-boggling and frequently contradictory. Any advice, partnership, mentorship, or other guidance from someone that’s been through the process would be truly appreciated.

//Levii

 

 
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Posted by on May 3, 2014 in Business

 
 
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