Intellectual Ventures Expands Invention Efforts Globally

Assembles world-class invention teams across Asia, launches in India

Intellectual Ventures, LLC (“IV”) announced the formal launch of its India operations. This is a part of the company’s Asian-based invention development efforts and over the past week, IV founders, Nathan P. Myhrvold and Edward Jung, have hosted a series of press events and office openings in four other countries across Asia.

“We founded Intellectual Ventures in 2000, to focus time and resources on invention as a full-time activity – not a sideline to other projects,” said IV’S CEO and founder, Nathan P. Myhrvold. “While this focus has led to success in the United States, we were gratified to learn our invention efforts were also generating growing interest among Asia’s leading innovators. Expanding our invention efforts to Asia allows us to support even more inventors and to expand our initiative globally. ”

The regional offices of IV will be headquartered in Singapore, and will oversee India (Bangalore), Japan (Tokyo), China (Beijing) and South Korea (Seoul).  Through partnerships with leading global companies and Asian inventors, IV wants to encourage innovation among each country’s leading scientists and technologists by providing them financial and intellectual resources as well as a collaborative invention environment.

IV will staff its Asian offices with local business executives, technologists and intellectual property law experts. Senior advisors will also be recruited to guide the company through local practice and customs and help assemble a talented network of inventors. Leadership teams will be recruited regionally, whenever possible, and will be announced in the coming months.

IV’s Asian efforts were first inspired by its Chief Technology Officer and founder, Edward Jung.  “Despite the growing numbers of leading scientists, researchers, technologists and other inventors in Asia, many of these innovators lacked access to the appropriate resources required to bring their ideas to a larger global audience. I am struck by the gap between Asia’s collective, innovative talent and the lack of resources for Asia’s greatest inventors.  IV is working to fill this gap with our Asia invention initiative,” Jung said.

IV programs in Asia, including India will include invention contests and IV-hosted innovation brainstorming sessions as well as a commitment from IV to cover the costs associated with acquiring, maintaining and licensing inventions it has accepted into its portfolio.

 “IV is bringing a much needed focus and resource to innovation in India. We are extremely excited about encouraging the ecosystem of invention in India and partnering with Indian inventors,” said Monish Suvarna, IV India Country Manager. “In India, we plan to roll-out our programs among select individual inventors, local universities, research institutes and venture companies. We look forward to working with local inventors in fields such as nanotechnology, biotechnology, green-tech, software, and many other areas,” concluded Suvarna.

To date, IV has largely focused its invention activities in the United States. With a current team of more than 400 persons and collaborating with over 500 inventors around the world, IV files thousands of patent applications a year in more than 30 technology areas including nanotechnology, biomedical devices, software and consumer electronics.