I saw a post on this years ago but can't seem to find it now. But does anyone know of VC funds that let people submit ideas and if the fund actually decides to use your idea, you get a ~3% finder's fee?
I know a lot of VC funds let you submit a business idea but expect you to run the business. I am referring to strictly getting a finder's fee for the idea.
I don't think there are, because ideas are not really "commercially viable" to VC's unless there is a team and a business model that they can invest in. Even early stage seed/angel/incubator/accelerator funds would not be able to get much out of these. I remember 2 months ago I was at an industry event and this other VC said to a group of young entrepreneurs: "Dude, ideas are meaningless if you can't execute them. I mean I have a business idea every five minutes." Remember, VC's often invest in the people behind the businesses, not the businesses themselves. Funds cannot (usually) be the founders of a company internally, it's not their mandate.
Maybe it would be better to find like-minded, technically adept people then create a startup, then get that startup funded? Then you could install professional management later on :)
(Background: I work for an Asia-based VC that actively invests in the Valley)
This is a joke right?
Nope. I actually found something close to what I was looking for but it is now out of business. Bill Gross' IdeaMarket gave people a 5% equity stake for their ideas if entrepreneurs actually wanted to use them. Unfortunately, they are no longer in business.
http://fortune.com/2014/09/08/bill-gross-ideamarket/
Apparently he tried to get this off the ground twice but it crashed and burned both times.
Ideas do not matter in business, execution does. So no fee I am afraid.
Random ideas and business plans with no execution behind them get sent straight to the trash by VCs.
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