This study relates to develop a quantitative method through which promising technology-based business items can be discovered and selected. For this study, we utilized patent trend analysis, technology-industry concordance analysis, and keyword co-occurrence analysis of US patents. By analyzing patent trends and technology-industry concordance, we were able to find out the emerging industry trends : prevalence of bio industry, service industry, and B2C business. From the direct and co-occurrence analysis of newly discovered patent keywords in the year, 2000, 28 promising business item candidates were extracted. Finally, the promising item candidates were prioritized using 4 business attractiveness determinants; market size, product life cycle, degree of the technological innovation, and coincidence with the industry trends. This result implicates that reliable discovery and selection of promising technology-based business items can be performed by a quantitative, objective and low- cost process using knowledge discovery method from patent database instead of peer review.