You should start by ensuring that the research institutions are free to deal with the invention, i.e. that the invention is not already part of existing agreements - for instance in connection with a research project.

Beware of all the research institution's agreements and not just agreements concerning the inventor in question.

Then estimate the advantages and disadvantages connected with the invention in relation to the commercial market.

Try to describe them as quantitatively as possible.
 
Normally you have to be prepared to do considerable legwork - which is generally initiated well before the first contact.