Long post ahead! Just letting you know…
Coming up with the next big thing has to be the fastest way to make a million bucks. Not easy by any means, but if you do, there is money to be had, that’s for sure. Today on CNNMoney there is an article about venture capitalists and what they consider to be good start-up ideas. Now, in case anyone isn’t sure what a venture capitalist is, let me break it down for you: a venture capitalist is someone who has, or works for a firm that has, a boatload of money that they use to invest in start-up companies. These guys make HUGE bank.
Anyhow, what the article was about was the start-up company ideas of 20 venture capitalists and the amount they were willing to give to the person who made those ideas a reality…the total amount being $100mm! And that is only 20 of the hundreds of venture capitalists out there telling you what they would invest in ONE idea. That should give you a sense of how much money is out there, and, if you have the right idea or concept in mind, you could help yourself to a few million bucks to make it happen.
Here are some of the ideas that these guys had that I thought were the most interesting (the following is taken from the CNNMoney website, the italicized text being my commentary):
The Ultimate iDrive
A driver’s tech fantasy fully realized: an in-dash computer with a keyboard built into the steering wheel and a full-screen heads-up display projected on the windshield. (Neat idea…apparently this technology is already present in jet fighters, but the automakers are scared to put it in cars since it would be a distraction…I’m sure Eddie Griffin would enjoy this, given his recent incident…maybe he wouldn’t have crashed then…)They’ll invest: $5 million for a deeply qualified 20-person team to deliver a prototype and a plan for pitching a commercial version to automakers within three years.
GPS-Guided Coupons
GPS-enabled ads and coupons piped to your mobile phone at just the right time and place. (That would get really annoying if they kept coming to your phone every time you go somewhere, but if you could tailor the ads to suit your shopping preferences, then it might be quite cool…)
They’ll invest: $3 million for a demo application and retail partners ready to test
Trip Planning 2.0
Concierge-grade trip planning over the Web. Imagine getting a message on your BlackBerry alerting you that your villa is booked, dinner reservations are confirmed, and a driver will pick you up in an hour for the flight to Belize. It’s not live agents making that happen, but software that taps into the growing number of travel-industry databases – of hotel chains, restaurants, limo services, amusement parks – to assemble smarter, more personalized itineraries than can be found on major travel hubs like Orbitz and Travelocity. (I think some travel agents would have a problem with this…and I don’t know how a machine will be able to replicate the personal touch of a human making suggestions based on experience…)They’ll invest: $5 million to create a working prototype within two years
So those are some of the ideas that venture capitalists had…not too shabby, but at the same time, not revolutionary. You look at ideas like the Internet, cell phones, computers, television…these are things that have revolutionized the way we live our lives…to make it really big, you are going to have to come up with something similar. It is interesting to think about…I have spent many a night with my friends sitting around our the room trying to come up with the next big idea, discussing where it will come from. The tech boom has come and slowly started tapering off…what will the next big industry be? Biotechnology? Automated services? Something we haven’t even seen before? In my opinion, I think that in order for something to be successful, it has to make life easier for people. Look at the Hand Steady, a drink holder that people with tremors can use and not be worried about spilling their drink. This is something that will really help people, and the creator is bound to make a significant amount of money for it.
So what will the next big thing be? A new state-of-the-art backpack that adjusts it’s tension depending upon what is in it, thus saving the backs of the thousands of students across the world that take their stuff to school? A state-of-the-art gaming system that allows you to play basketball but with Kobe’s skills? Or, if we are thinking really badass, a machine that lets you travel through time?
What will the next big thing be? If I knew the answer, I sure wouldn’t be writing this blog from my cubicle at work…;)
If you have any ideas, post them as a comment. Maybe we can work together and split the profit, 50-50? Sound good? 
Cheers,
Taps
