Business Development · Deep learning

How to Sell the IP and Code of a Machine learning Start up?

Paolo Messina, PhD, MBA

June 16th, 2018

We have spent 2 years of R&D and over $850K in founders savings and countless nights to develop a computer vision technology able to understand and extractdata from visual graphics. One application of it is used and available today in the google Chrome app store.

We are now moving to another field of machine learning and would like to sell both the pending patent (full patent application) and thecode/trade secret. The technical team that developed this technology is in Milan Italy. The company is Headquartered in Silicon Valley

We believe the technology could have significant merit to search engine companies like Yahoo, Google and Microsoft or their B2B omologues. It could be used ( or the patentcould be used to protect) to understand information inside visual graphics and provide users with an intelligent response to search queries.
Another area of application is information retrieval and document management like the cloud storage or productivity software such as Intuit, Evernote etc.. etc...

We need to focus on working on our next tech and cannot devote too much time on this, which type of brokers could we use to explore a potential sale?

What avenues could we go without spending too much time on this?

Is there anyone that has done this in the past we could talk to?

Thank you

Jeronimo De Leon Founder www.Welcome.AI

July 22nd, 2018

Have you actually proven your technology works? Its easier to sell proven technology than technology with out a proven business case behind it. There is a lot of open source foundational AI technology out there at the moment. Big companies are typically buying AI companies also for the talent, not just the technology. Have a look at www.Welcome.AI and see if there is technology already similar to what you've developed and maybe that may help find a client to prove the business use case around it.

David M

July 22nd, 2018

I am happy to look at it, but I have to be honest your pitch of "We need to focus on working on our next tech and cannot devote too much time on this" is terrible. To second what Jeronimo stated, the team these days when it comes to technology is as if not more valuable than the tech...simply because EVERY one has some new technology. There is more new technology available than there are competent teams to fulfill its full potential. But you starting off the bat giving the impression that you don't have time to see this supposedly amazing technology through gives the impression A..its not that amazing and you are just trying to get some return on your $850k, or think you are extremely brilliant, which you may very well, and have so much other amazing technology...but again..back to the above...big deal...investors at this caliber have their pick of new technology. The investment comes in the founders and the team that has the perseverance to see it through. And if it IS the amazing one of a kind tech..why in the world would you want to present yourself like you are just trying to unload it??? All that stands to do is get you a low ball acquisition price.

I am happy to review. Unfortunately my contact to Intuit was the former Chairman Bill Campbell who has since passed, but I may be able to connect to some of his former execs. I also have access to some individuals who made their fortunes in the tech realm and a couple colleagues who are considered top tier in A.I. and computer science and I am hearing them talk about startups in the cloud realm from time to time. Whether they would have an interest or you and I would reach an amiable compensation arrangement would be in the air. But I am at least willing to consider.