Strategic Insights Engine for IP protection

• Funding Amount: £8,332.69 + £8,332.69
  
• Funder: Innovation Voucher and Contract research
  
• Role: Principal Investigator (PI)
  
• Academic Team: Dr Haider Raza (PI)
• Associate: Ms Gayathri
  
• Year: 2023

Project Summary

This project explores the development of an automated, machine learning-based recommendation system to assist small businesses in making informed decisions about managing their Intellectual Property (IP).

For many startup companies, the challenge of IP management is often overlooked, leaving valuable commercial assets unprotected and exposing them to potential legal risks. Moreover, unprotected IP cannot be accurately valued, which can lead to startups being undervalued during investment rounds, acquisitions, or Initial Public Offerings (IPOs). This issue is particularly pronounced among first-time entrepreneurs who lack prior experience in IP strategy development. While peer networks and business communities offer some support, accessible resources are limited, and hiring patent attorneys is prohibitively expensive for many startups.

One effective approach for addressing these challenges is to learn from companies that have successfully navigated the process of developing and protecting IP portfolios. In recent years, the availability of startup data through business insight platforms and patent-related data through databases such as those provided by the European Patent Office has grown substantially. This project leverages these resources to explore a machine learning-based clustering approach that identifies patterns in successful IP management strategies.

By combining and analysing data from Crunchbase, a leading business insight platform, and PATSTAT, the European Patent Office’s database, this study aims to develop a systematic, data-driven approach to assist startups in managing their IP effectively. The goal is to provide actionable insights by identifying patterns in how similar companies have successfully addressed their IP challenges.

This work is conducted in collaboration with Advancii, a UK-based tech startup, with the aim of commercialising the envisioned recommendation system through their IP Navigator software platform. By integrating this innovative solution, Advancii seeks to provide startups with a practical and scalable tool to strengthen their IP management strategies, fostering sustainable growth and innovation in the entrepreneurial ecosystem.