A new strategic partnership signed today will pave the way for companies around the world to become more innovative.
PatSnap, a global Intellectual Property (IP) Analytics firm backed by Sequoia, provides the likes of NASA, MIT, PwC – and thousands of companies worldwide – with access to the intelligent information they need to accelerate their research.
The most pioneering organisations anywhere on the planet are using PatSnap’s IP data set – the largest in the world – to direct their research and development (R&D) decisions. And getting these decisons correct is crucial, as many of those using PatSnap are investing in excess of US$1 billion on R&D annually.
The company’s new alliance with Singapore’s multi-award winning GreyB, which carries out human level research using machine learning and artifical intelligence algorithims, will see the pair offer complementary information to enterprises, governments and academic institutions that are seeking to enhance their innovation strategies.
Deepak Syal, co-founder and director at GreyB, said: “PatSnap has brought the insights of global IP data to research teams across the world, and at GreyB we are delighted to announce our alliance with PatSnap, which will enable access to intelligent patent data and strengthen our commitment to customers – improving data driven decision for R&D and patents ”
PatSnap’s database includes about 120 million patents from around the world. Insights derived from the data – using machine learning – are used to reduce the time and risk associated with R&D investments.
Ray Chohan, VP, Corporate Strategy at PatSnap, added: “Research and development has been experiencing huge productivity challenges over the last 30 years. With GreyB’s outstanding reputation in the field of Intellectual Property research, we are thrilled to share the common goal of streamlining the process of idea conception to commercialisation, and bringing a 360 degree oversight into the innovation landscape to our customers.”