Recently, I saw a note from a university congratulating its technology researchers who got patents. But will these patents ever be commercially used or was the money spent a waste? Can some of these patents be commercially used with some improvements to the current ecosystem?
About 97% of patents gather dust. Here are 3 reasons why:
· VC is of no use at this stage. VCs want Aha, i.e., evidence of potential, and an unproven patent is usually not enough. In an analysis of 85 billion-dollar entrepreneurs, only 1% got VC after proving the technology. 23% got VC after proving their business strategy and