The concept of an Open Innovation Ecosystem with an “Innovation Currency” is more essential now than ever. In this vision, innovation can be transformed into capital through collaboration, development, commercialization, incubation, and transaction. This ecosystem would allow actors from across the world—small startups to large institutions, in both developed and developing regions—to fully realize the economic value of their innovations.
Today, many brilliant ideas emerge globally, whether from individual minds or within structured environments like universities and corporations. These ideas often become documented inventions, and with the right legal protections, they can turn into marketable innovations, products ready to meet market demand. However, only a small fraction of inventions—about 5-10%—actually get commercialized. Most universities and startups struggle to take the next step in licensing or selling their technologies. Many pre-patent ideas face the same challenges.
This difficulty in driving innovation to market is a global problem. The solution lies in creating a marketplace for intellectual property (IP), but previous attempts have fallen short due to the complexity of the endeavor. It requires more than just a private or public initiative; a Public-Private Partnership (PPP) can unite the diverse stakeholders necessary to create a functioning innovation system.
These stakeholders include universities, corporations, venture capital firms, financial institutions, law firms, brokers, and government agencies like the USPTO and NSF. Each plays a vital role in making the ecosystem work. What’s at stake is more than just innovation; it’s the future of economic growth. In the U.S. alone, intellectual property accounts for 50% of GDP and 85% of the market capitalization of Fortune 500 companies. A mere 1% increase in the commercialization of inventions could unleash trillions of dollars in economic value.
The key to unlocking this potential is a Patent Liquidity Framework. This framework offers a marketplace where intellectual property can be traded easily, much like any other asset. But for transactions to be smooth, we need more than just patents on sale. Both the sell-side and buy-side need robust tools and a “common asset transaction language” that defines the value, risks, and opportunities of IP assets.
Our mission is to bring together universities, corporations, and financial institutions to define these standards, establish Patent Liquidity, and build the infrastructure for an IP Capital Exchange Platform. By March 2025, we aim to form a group of Founding Partners. If you are interested in joining this journey, let’s schedule a meeting to discuss how we can collaborate to make this vision a reality or check out our membership section for options available.
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