Hi everybody. This is our third week in the class, and, this time, I'm going to talk about patent selection. The good part is that I'm really liking my team. I think that the miscellaneous skills and backgrounds in our team, plus the high interest in the patent we selected (more on that soon), will help us bring a really interesting project towards the end of the semester.
We talked about different patents and discusses their possible impact in the market. Two of them sounded interesting to me: one was "Decoding Heard Speech And Imagined Speech From Human Brain Signals", which pretty much allows a device to decode what you're thinking into text. Crazy! The other patent that seems interesting is "Low Cost Highly Accurate Traffic Monitoring System". The problem with this second patent is that there is already a lot of competition and it would be hard to get a user base.
I think that Decode, the patent that allows to decode brain signals, has a lot of market potential, and can improve the life quality of the people. A thing that I consider that is really important is that every member of the team is really excited about this project, so I really hope that we get to use this patent.
Yesterday we had a meeting to go over the patents, and I like the team dynamic. It will be interesting to see how the team develops during the next weeks.
See you soon!
Hey Omar,
ReplyDeleteI like the way that you presented your idea last class. I remember being in the team the frist week when we dicovered the patent and I think the possibilities for this products are huge. In your previous post you even lay out the size of the market and it's pretty impressive. This is an idea that could help so many people! I like the fact that your company's purpose is not only profit making but it goes beyond that
Hey Omar,
ReplyDeleteThank you for sharing your journey. I am glad to see that your team members are excited to work on this project. I also appreciate the fact that you not only took into consideration the potential market for the product, but also the benefit it would bring to the world. I am excited to see how your project unfolds in the next couple of weeks. Good luck on your project and keep us updated!
I agree that it is important to find a team where everyone is involved and excited about the project, or else you will probably end up not accomplishing much. I wonder how far you guys will get with actually building a product/MVP if possible cause I'd love to this technology in action!
ReplyDelete"Decoding Heard Speech And Imagined Speech From Human Brain Signals" was one of the patents I also really liked when I was looking into patents during that activity in week 1! It seems super cool, I'd be very interested to see where your product will go. One possible hurdle you might face is that the idea sounds too "sci-fi" for a VC to buy, but then again, so does every groundbreaking technology. Excited to see where you go with it, if you pick that one.
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