Problem: I want to monetize a mathematical discovery I made without giving up too much stock in the idea and my company.
Background: Several years ago, I discovered some fractal patterns I believe have application as wireless communication antennas. I come from a software development background and am struggling with the electrical engineering aspect of this possible business use. To make matters more complicated, the software I feel I need to purchase to test the designs for patenting purposes costs approximately $35,000 per license. In addition to this, the US patent will cost between $6,000 and $10,000. Filing internationally will cost quite a bit more.
Ideally, I want to sell my patent to a company that already does this type of thing because I feel I am out of my element. If that doesn't pan out, my business plan is to either license the intellectual property out or to manufacture and sell the antennas myself. Without having the necessary funds to purchase the testing software, what direction should I take this idea?
Should I reach out to a company that might be interested in the technology prior to patenting the designs in hopes to partner with them? I like the idea of leveraging an existing company's industry and technical knowledge since I do not posess it, but I do not want them to steal the idea from me.
Another thought I have is to pursue venture capital funding to buy the test software and hire people to help with the research necessary for the patent. I have no idea what kind of money I could get for this idea given I haven't sold anything to anybody yet. I also do not know what percent of my company I would have to give up to get said money. The startup costs in this industry are high, but the antenna market is global and getting larger due to the growing number of connected devices.
I believe there is huge potential in this idea. How should I translate that into money given my current limitations? Any insight is appreciated.
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