13 July 2022News
IPwe X SkanSense Success Story
LiDAR (Light Detection and Ranging) is a technology that employs light in the form of a pulsed laser and a highly accurate method to measure distances, enabling improvements in everyday life such as safe autonomous driving and robotic applications. The global LiDAR market, which was valued at $1.5 billion in 2020, is projected to be $7 billion by 2027. IPwe announced SkanSense, a Madrid-based SME with 9 LiDAR assets, as the LiDAR Smart Pool’s first founder in April 2022.
SkanSense was founded in 2016 out of the European Space Agency (ESA) incubation program and specializes in autonomous vehicles and LiDAR, cooperating with the Centre of Excellence for Testing and Research of Autonomous Vehicles (CETRAN) in Singapore, the Society of American Engineers (SAE Edge) and has received multiple awards in technology by the Spanish MIT Economic Forum, Copernicus Masters, and the SMEs European Program.
Traditional patent licensing is typically a laborious procedure that requires extensive legal services. This means that intellectual property unintentionally creates a barrier to mass adoption in emerging technologies because it is difficult for patent holders in these niche technologies to create licensing opportunities for their patents. In addition, complex technologies like LiDAR systems include multiple technologies and architectures that are difficult to structure and access.
IPwe’s Smart Pools are an efficient solution for companies like SkanSense to unlock the value of their assets through a licensing structure that effectively encourages them to bring their innovations to market. Additionally, IPwe’s Smart Pool helps companies access complex technologies like LiDAR systems in a structured, simplified way. SkanSense simply contributed licensing rights of their selected patents to the LiDAR Smart Pool and now can generate a revenue stream via member companies that pay an annual fee to access SkanSense’s licenses. This tiered member fee is based on a member company’s revenue, allowing companies of all sizes to feasibly join the pool at their specific pricing tier, further enabling innovation in the LiDAR space while creating an additional revenue stream for SkanSense.
Result: LiDAR Smart Pool
In comparison to the typical year-long setup process that traditional patent pools entail, IPwe launched the LiDAR Smart Pool with SkanSense less than two weeks after meeting with SkanSense Founder and CEO, Cristina Porcel Magnusson. IPwe’s blockchain-enabled Smart Pools have standardized the patent pool procedure, resulting in faster agreements and lower member costs that now enable SkanSense to monetize their otherwise unused assets.
Founded in 2018, IPwe is a global innovation platform leveraging the power of artificial intelligence, predictive analytics and blockchain technology. Through the IPwe Platform, large enterprises, SMEs, owners, those looking to enhance their innovation profiles and those with a legal, technical or financial focus benefit from our mission to empower innovation in emerging technologies. IPwe is committed to improving ROI whether measured by dollar returns, jobs created, ventures launched, or problems solved by increasing transparency, lowering costs and enhancing returns for the entire innovation ecosystem.