New York, NY (PRWEB) June 4, 2006
Donald Spector, Chairman of Innovation Fund (http://www.innfund.com) already has a patent granted and others pending on pro-actively reaching customers by geo-positioning. While Google is looking at Wi Fi for cities based on geo-positioning and directed ads, Innovation Fund has already received patent positions.
While many systems are going to bombard customers with a lot of information, the Spector patents are different in that they call or reach customers on cell phones, PDA’s or laptops. Spector says "our system doesn’t wait for the customer to find a favorite restaurant; instead it contacts the customer directly. Billions of dollars are lost in the travel industry alone as hotel rooms, plane tickets and restaurants operate at partial capacity. Our patents allow customers to take advantage of great offers."
If a fan passes near a ballpark, and it is not a sold-out game, their telephone or other communication equipment may ring and offer them seats at a price they can’t refuse. "Making customers an offer they can’t refuse is the key to not having our technology become used as spam. Otherwise it might be outlawed. Customers are not looking to save 5 cents, but if they are buying a house and you can give them a better house for $100,000 less, the call may not be viewed as spam. Having the patents will enable a responsible advertiser to control and build the market," Donald Spector explains.
"We are looking for the right company to partner with. We have holdings in Microsoft and Time Warner, but we are speaking to companies that are willing to work with us," he continued. Spector says he was disappointed when Microsoft didn’t purchase AOL last year instead of giving the dividend to shareholders, but it is not the first time I read the tea leaves wrong.
Donald Spector, who is also Chairman of the Board of Trustees of New York College of Health Professions, has licensed hundreds of products to Fortune 500 companies and thinks the right partner is the key. "The money is not the most important thing; the most important thing is making sure the product does well. Win/Win situations are the only ones that grow the companies," says Spector.
"The fight for the Internet and the peripherals has just begun. Those that say it is over have little vision. Innovation Fund is working on providing early learning to children so that we can narrow the digital divide, as well as provide partial verbal communication so that patients can communicate better with health providers. Those companies that supply the peripherals to make computers more a part of the everyday life of people will win the war. What we have seen so far is just the beginning and we see a small fraction of the resources of computer applications being applied to everyday problems," say Spector.
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