With the support of the Singapore government, PatSnap continues the development of R&D innovation intelligence products with a specific focus on the material science sector.
SINGAPORE, June 1, 2020 /PRNewswire/ — PatSnap, a global leader in innovation intelligence, is helping to spur innovation and R&D in the material science industry with the development of a new intelligence product. This product will leverage PatSnap’s recent partnership announcement with CAS, a division of the American Chemical Society specializing in scientific information solutions, and equip IP and R&D professionals in the material science industry with actionable R&D intelligence that can help shorten the new material innovation cycle significantly.
The Singapore government has been a key partner to PatSnap, having supported its expansion in Singapore with funding in 2017. This funding was used to invest S$22 million in the enhancement and development of an R&D centre in Singapore, which has served as the hub where a number of PatSnap’s signature products have been developed.
“The foundation we built in 2017 allowed us to quickly develop and grow our leading AI-powered R&D product, Discovery, which is now used by over 8,000 customers world-wide,” said CEO & Founder of PatSnap, Jeffrey Tiong. “Our new product will combine world-class data, AI power, and our ability to connect the right dots, to enhance and advance industry innovation.”
“We are grateful to receive additional support from the Singapore government to enrich our R&D innovation technology with a specific focus on the needs of the material sciences space. This sector is rapidly growing, especially with advancements in AI-driven material innovation,” said Markus Haense, CTO & Head of Research at PatSnap. “Furthermore, the current global COVID-19 pandemic has elicited a special need for efficient material developments (i.e. masks, ventilators or antimicrobial materials). This calls for a requirement to explore biomaterials, and other tools of materials research, to accelerate a solution that can provide antimicrobial activity, to catch the virus and kill it within seconds, which can include antimicrobial polymers, bio plastics, organic or inorganic nanomaterials, metal oxide nanoparticles or ceramics. As always, materials research plays an immense role in finding these solutions.”
PatSnap intends to hire a team of local, best-in-class AI professionals to spearhead the development of the new product, which will be rolled out globally in 2021.
“We are delighted to see PatSnap advancing innovation in material science with the continued development of R&D intelligence products,” said Mr. Kiren Kumar, Chief Digital Industry Officer from Digital Industry Singapore. “PatSnap is a great example of a company that has scaled quickly into a global organization while maintaining strong local ties to Singapore. PatSnap’s ingenuity and dedication to innovation has resulted in products that provide tangible value to the IP and R&D community, along with new jobs for highly specialized local talent. We look forward to their continued growth in Singapore and abroad and have no doubt that they will lead the way in the future of innovation intelligence.”
PatSnap is the leading innovation intelligence platform designed to help you identify technological opportunities that could affect the growth and survival of your business. With the application of AI technology, PatSnap makes it possible to gain actionable intelligence from millions of global innovation data points on patents, venture capital, partnerships, journals, startups, mergers & acquisitions, technology news and more. From ideation to commercialization, we separate the signal from the noise at every step of your innovation funnel so you can learn everything you need to know about a company’s technology and innovation. Learn how innovation intelligence can help, visit www.patsnap.com
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