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I'll warn you now, this is going to be a long post...
Anyway, I was talking to my dad today, and while there is a lot of background to how this all developed, the situation at hand is this:
He works for an energy utility, and has for 30 years (I won't say which one in the event that it's bad for some reason...) as an electrical engineer. He goes off and looks at new technologies, and sees how they can be used for his company, among other things.
He also happens to be the chairman of a sort of focus group that brings together people from 8-10 different energy utilities in the nation - they represent 25% of the energy utilities of the USA. These people get together, and one of the things they do is talk about different things that they would like, different devices, items, etc. for their utilities. I'm not sure of the specifics of what they are, but the business opportunity arises here.
They have already developed, or designed these things that they want. They already have the plans, and there is a need. But, no one is making them - well, apparently someone made a few copies of one item in his garage, but no company is taking this opportunity. This could be because they don't know it exists, or because they don't want to change, or for other reasons I don't know about. But, whatever the reason, there is a great opportunity here.
My dad was looking into venture capital today. He's thinking about attempting to either start a business that develops these things, or trying to license these items to another company. Or, perhaps something else; he's pretty much just realized some of the possibilities after speaking to me.
He doesn't want to give up his current job entirely, and if he did, he might lose his position as chairman of this group, which would certainly be bad for this possible company. Though, so long as he can keep in contact with the people in the group, I imagine the company would be able to stay up with what's needed. And, perhaps it's worth mentioning that the group is comprised of engineers, so they all generally know what they want/need for their companies.
If, for some reason, my dad decides not to go through with this, and not try to get this company up and running, I may attempt to do it myself. Being that I'd stay in contact with my dad, I imagine it would be completely viable for me to do, and I'd have more time to deal with the company than he would, as he works a lot already.
But, we'll see if we can't get this up and running for him first... so, I was just wondering what you guys think - and possibly any advice for speaking with VCs about this. I plan on going back through some old threads about them, but I wanted to get this posted before I forgot everything... and I'll probably add some more to this if I remember anything else - and keep you updated!
So, feel free to add any thoughts/comments/concerns/ideas, or any questions you may have. It seems great to us, but perhaps we're missing something.
:thankyousign:
Anyway, I was talking to my dad today, and while there is a lot of background to how this all developed, the situation at hand is this:
He works for an energy utility, and has for 30 years (I won't say which one in the event that it's bad for some reason...) as an electrical engineer. He goes off and looks at new technologies, and sees how they can be used for his company, among other things.
He also happens to be the chairman of a sort of focus group that brings together people from 8-10 different energy utilities in the nation - they represent 25% of the energy utilities of the USA. These people get together, and one of the things they do is talk about different things that they would like, different devices, items, etc. for their utilities. I'm not sure of the specifics of what they are, but the business opportunity arises here.
They have already developed, or designed these things that they want. They already have the plans, and there is a need. But, no one is making them - well, apparently someone made a few copies of one item in his garage, but no company is taking this opportunity. This could be because they don't know it exists, or because they don't want to change, or for other reasons I don't know about. But, whatever the reason, there is a great opportunity here.
My dad was looking into venture capital today. He's thinking about attempting to either start a business that develops these things, or trying to license these items to another company. Or, perhaps something else; he's pretty much just realized some of the possibilities after speaking to me.
He doesn't want to give up his current job entirely, and if he did, he might lose his position as chairman of this group, which would certainly be bad for this possible company. Though, so long as he can keep in contact with the people in the group, I imagine the company would be able to stay up with what's needed. And, perhaps it's worth mentioning that the group is comprised of engineers, so they all generally know what they want/need for their companies.
If, for some reason, my dad decides not to go through with this, and not try to get this company up and running, I may attempt to do it myself. Being that I'd stay in contact with my dad, I imagine it would be completely viable for me to do, and I'd have more time to deal with the company than he would, as he works a lot already.
But, we'll see if we can't get this up and running for him first... so, I was just wondering what you guys think - and possibly any advice for speaking with VCs about this. I plan on going back through some old threads about them, but I wanted to get this posted before I forgot everything... and I'll probably add some more to this if I remember anything else - and keep you updated!
So, feel free to add any thoughts/comments/concerns/ideas, or any questions you may have. It seems great to us, but perhaps we're missing something.
:thankyousign:
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