23 November 2020

Press Release

This Thursday, November 26, the Minister of Sciences, Technology, and Innovation of Colombia, Dr. Mabel Torres and IPwe CEO Erich Spangenberg will jointly launch IPwe’s Latin America branch office.

The event is scheduled to take place virtually on LicenciArte’s LinkedIn and in-person at “El Muelle Tech” (Cra. 65 #5 – 92, Cali, Valle del Cauca) is scheduled for 2:00 p.m., following the framework of the Mexican Congress of the Network of Technology Transfer Offices (OTT Network). Participants include Valle del Cauca Network of Universities for Innovation (Sp: RUPIV); Dr. Claudia Liliana Zúñiga: director of the Santiago de Cali University, Dr. Carlos Andrés Pérez: the Undersecretary of  Science, Technology, and Innovation of the Valle del Cauca,  Dr. Sandra de las  Lajas; and the Secretary of Economic Development of the Valle del Cauca, Pedro Bravo, among others.

“Intellectual property is created by individuals and granted at the country level. Because of this, we sometime forget that innovation and the IP market are very much global.  From its inception, IPwe has pursued a global strategy, with offices spanning 9 countries across Asia, Europe and the US.  Today we are elated to be expanding our presence to South America. Our goal is very simple: to work with leading innovators in the LATEM region, and to connect the innovations of South America to the world market.”

IPwe’s Bogotá office will cover the entire Latin American region, with eight more offices in Palo Alto, Dallas, New York, Paris, Singapore, Shanghai, Qingdao, and Tokyo.

David Hurtado (CEO of LicenciArte) was appointed as president of IPwe LATAM, well positioned to leverage his expertise in technology transfer, patent law, and commercialization of scientific innovations.

Erich Spangenberg on collaborating with Latin America. Spangenberg is a serial entrepreneur in the patent business and one of the 50 most influential people in the management of intellectual property globally.

IPwe: Creating real value from knowledge

Since its inception in 2017, IPwe has worked to foster innovation in the IP space, helping to lower discovery and transaction costs while increasing global opportunities for patent owners. Whether it is increasing patent quality, finding new commercialization opportunities, advising on IP risk management, or other transactional opportunities, IPwe reduces the costs and complexity of the patent process. For this reason, IPwe created the first global platform for the world of patents on a single ecosystem, connecting buyers and sellers, partners, financing sources, to unlock and enhance the overall value of patents. Ultimately, IPwe’s goal is to turn patents into an accessible, tradable asset.

IPwe’s track record of success supports this, with 1,100+ patent licensing transactions globally, $400MM+ licensing revenues generated, and upwards of $2 billion financing transactions.

IPwe’s extensive partner network along with its core team provides its clients abundant resources in patent commercialization, IP law, AI & Blockchain, with an extraordinary interdisciplinary group of university resources. IPwe’s extensive network is transforming the way patents are utilized and engaged with globally, with global presence in nine locations across Asia, Europe, North America, and now in Colombia.

Patents have been a complex asset class to monetize and difficult to understand, making transacting patents a convoluted process. The ecosystem lacks transparency and is plagued with bad data. There is no public record of most patent transactions, so quantifying patents’ commercial value is difficult and uncertain.

The process of licensing and transacting patents can take months and is incredibly costly without the help of technological tools and expertise. Indeed, patent complexity is reflected in areas of high scientific knowledge such as pharmaceuticals, computer science, new materials, renewable energies, biotechnologies, among other areas.

IPwe has transformed the world of patents by developing a centralized patent database, providing validity and quality indicators, and training leading-edge algorithms with volumes of data and transactions. The technology increases transparency, making it easy to identify parties, owners, and correlate it with evidence-based market data. In this way, IPwe makes it much easier and more transparent to estimate the true value of a patent, its quality, and its validity to subsequently commercialize or license it.

IPwe enables us to determine, with acceptable levels of certainty, the true strengths and opportunities of each technological or scientific development in the international market. Through the IPwe ecosystem platform, research centers, inventors, companies, universities, and SMEs will be able to transfer their patents faster, easier, and more economically while earning higher revenue for their innovations.

With IPwe, it is also possible to access new types of patent monetization and financial models, such as IP based financing by leveraging the value of existing patents as collateral, IPwe Smart-Pooling to cross-license patents as part of a community with other members, setting up a patent portfolio so that transfers are valued or even the grouping of patents from different holders to reach multinationals looking for large portfolios of intangible assets. These leading-edge business models, used in developed markets, will now be available on our continent to universities, research centers, large companies, SMEs, startups, venture capitals, or inventors in general.

Why Latin America?

With an estimated $180 billion of patent transactions in the region, only 2% of all patents worldwide are involved in those patent transactions. At IPwe, the ambition is to unlock the value of the remaining 98%.

Currently, Latin America does not actively participate in the so-called “secondary patent market.” To give one example of the untapped potential in our region: scientific advances, intellectual production, and new technologies developed in Latin America’s top research centers and universities are represented by a portfolio of approximately 6,500 patents, valued at more than $500 million, according to preliminary data from LicenciArte.

This not only means that in Latin America, the generators of highly innovative scientific inventions, have registered almost 6,500 inventions, but it also corroborates the undeniable qualities and capacities of the region’s academics and researchers. It clarifies that, from countries such as Brazil, Mexico, Argentina, Cuba, Chile, Colombia, Panama, Perú, and Costa Rica, the possibilities for socioeconomic growth and technological impact from patent transfer are a feasible reality. The benefit is not just for innovators and patent owners, but for society in general.

“The potential to export packaged knowledge into patented technologies is an unexplored market on our continent but growing to the extent that universities have understood that their role is not only to educate and generate knowledge, but that knowledge generates economic and social prosperity. That it really saves lives,” Hurtado emphasizes.

Due to this potential, IPwe opens new horizons in Latin America with David Hurtado, who was appointed as president of IPwe LATAM. Erich Spangenberg highlighted the professional profile of the inventor “Caleño” and his remarkable ability to connect the entire region.

“In 2019, I embarked on the mission of finding a person who had a strong understanding of intellectual property transfer in Latin America. I spoke to many people and was surprised at the number and quality of individuals I could identify. However, none of them impressed me more than David Hurtado. He really has an in-depth knowledge of the Latin American market; he is admired and respected in the market. David has distinguished himself among his peers, with his network of contacts, and with his tenacity, he is the right person to lead IPwe’s efforts in Latin America. We are fortunate that you are part of our global team.” says IPwe’s CEO.

“In Latin America, we know very little about patenting world-class technologies, and we do not have a clear intellectual property strategy, as we are not planning to commercialize what we patent. Moreover, it is of little use to patent in our Latin American countries because there is no solid industry based on scientific knowledge to market them. We have brilliant scientists and researchers in Latin America, and with IPwe,we will have the ability to export packaged knowledge in disruptive technologies,” concludes the president of IPwe LATAM.

Press Contact
Mia Mixan
Corporate Marketing
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