Patents help startups raise investment
Swedish tech startups see patents as a crucial part of their business model and use them to attract investment, according to a new study from Chalmers University of Technology.
“Our study shows that companies working with open business models and innovation in the technology trade or via collaborations can see the importance of using their intellectual property assets strategically, says Ove Granstrand, professor at Chalmers University of Technology in Gothenburg.
“There is great potential for growth by using patents as a central tool on different markets.”
Traditionally, companies have mainly viewed patents as an insurance of their innovations but the new research from Chalmers shows that 69% of startups also see patents as a way to attract venture capital, increase market value and become a better candidate for a bank loan.
“I hope this study challenges the myth of patents just being about protecting your own products. A substantial patent portfolio can be the deciding factor in various cases,” says Magnus Hallin, CEO, Awapatent.
The research is based on a survey answered by a total of 172 companies from the following questioned segments; Swedish startups (144), the 100 largest research investors amongst large Swedish companies (100) and the 100 largest research investors amongst Swedish SMEs (100). The study was conducted by Professor Ove Granstrand and Assistant Professor Marcus Holgersson at Chalmers University of Technology with funding from Awapatent’s Foundation for the Promotion of Intellectual Scientific Research.
The findings were presented at a breakfast seminar at Epicenter in Stockholm on 28 September, moderated by Helena Ribbefors, Awapatent. The presentation was followed by panel discussion about the importance of patents in startup businesses with Karin Bryshke (CEO, CR Development), Anders Lindqvist (partner, The Springfield Project) and John Karlström (patent consultant specializing in startups, Awapatent).
Please find the full report here