Piece Future & MDEC collaborate to encourage startups to power growth using IP
By Digital News Asia January 5, 2021
- IPHatch challenge offers patents from the likes of Nokia, Panasonic to startups
- Participants gain access to deep-dive sessions, business modelling, mentorship
Intellectual property (IP) investment bank Piece Future and the Malaysia Digital Economy Corporation (MDEC) is collaborating to “supercharge businesses within Malaysia through technologies from renowned multi-national corporations” via IPHatch Malaysia.
IPHatch is a regional open-innovation challenge that offers patents from patent owners such as Nokia, Panasonic, and Ricoh, to award-winning business proposals from startups and entrepreneurs. The patented technologies cover communications, imaging, navigation, smart sensors, AR/VR, data analytics, just to name a few.
The regional challenge created startups that cover a wide range of industries including financial technology, retail mall management, e-Fitness, food & beverage technology and even tech-enabled mental wellness.
For the next couple of months, IPHatch Malaysia participants will be offered deep-dive sessions for patent portfolio technicalities, panel discussions with renowned speakers in the innovation industries, and also intensive business-modelling and coaching workshops before their pitch days.
Winners will get to enjoy outstanding platform support from established incubators programmes and venture capital firms that collectively offer an invaluable ecosystem of venture funding and mentorship in IPHatch network cities. Application for IPHatch Malaysia will close on 11 April 2021.
“Access to knowledge is an invaluable component for startups to validate and elevate their innovation in preparation for global dominance. Having access to patents from companies such as Nokia, Panasonic and Ricoh will undeniably accelerate the growth trajectory of their learning curve. Through this partnership with IPHatch, we hope to bump up the quality of innovation produced by homegrown startups and enable them to stand toe-to-toe with other global tech giants,” says MDEC's Global Growth Acceleration vice president, Gopi Ganesalingam (pic).
[Ed: Paragraph updated for accuracy.]
IPHatch, being a joint initiative by Piece Future with patent- rich corporations all across the globe, makes use of patents to invest in startups for open innovation and grow them in adjacent sectors. It has contributed to the growth of more than 30 innovative startups across Singapore and Hong Kong.
For a full list of partners and supporters, and more information about the IPHatch Challenge, please visit http://www.iphatchday.com.
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