(New York, NY — 7/28/20) Launched as a marketplace & search engine for patents, in October 2019, the NYC based startup has moved through a pivot after accumulating over 900 listings owned by leading universities, independent inventors & more. Now, Cypris is focusing on providing market intelligence, at the earliest stage, for organizations & individuals that are investing heavily in IP.
According to an April, IPWatchdog, report, over $71 billion USD was spent in federally sponsored research at universities in 2018 that yielded approximately $2.94 billion in licensing revenue. There is a significant lag between what the market demand is for early-stage innovations & what is being produced at the ground level. Universities aren’t alone in having trouble commercializing IP, every year billions are lost in patent investments at the independent patent owner level. It is clear that inventors are investing heavily in early-stage technologies without first appreciating the market landscape & demand for the innovations.
A large part of the failure to see ROI on early-stage investments is the lack of market intelligence tools that are available for small to midsize organizations. Modern market intelligence tools can cost over $10K/year & can be extremely complex, making them monopolized by the elite 1% of the r&d world, even though the information can be invaluable for anyone investing in costly innovation practice. In response, Cypris has shifted its platform, offering to help innovators at the earliest stage, by providing access to the data points that can help them find commercial success.
Innovators can use the Cypris Insights tool to identify companies, startups, investors & current technologies within their market. Leveraging third-party data sources Cypris has accumulated over 10M data points & has organized it to fit the needs of the SMB market. At the earliest level, innovators can plan their IP approach around current technologies & companies within the market, rather than blindly investing in a patent. Tech transfer institutions can automate the discovery stage & identify trends within their key verticals. And small to midsized companies can now have access to the innovative opportunities in their market, that until now has been foreign to them due to an information barrier.
Through Cypris Insights, innovation data will be democratized, SMBs will be able to access the innovative economy & better IP investments will be made.
Learn more about Insights: