Case study - Patent Analytics Hub
Our Patent Analytics Hub has been working with the Department of Industry, Science, Energy and Resources Entrepreneurs’ Programme to trial a new patent analytics service that adds value for participants. Patent analytics—based on more than 120 million global patent records— provides information on technology trends, key players and target markets. This intelligence can help businesses make commercialisation, partnership and investment decisions.
In 2019–20, in collaboration with Entrepreneurs’ Programme growth facilitators, the Patent Analytics Hub delivered 17 reports to participants in the medical technology and pharmaceutical (MTP) sector. The sector, typically highly engaged with IP, comprises about seven per cent of the Entrepreneurs’ Programme’s client base.
The Patent Analytics Hub prepared the reports after working with Entrepreneurs’ Programme participants to understand their innovation and deliver the most relevant and useful insights for their area of specialisation. Supported by IP Australia’s in-house science and technology professionals, the reports covered a broad range of technologies from ‘smart’ foods to optical imaging.
Preliminary survey results are positive. Businesses are reporting that the new information contributed to their strategic decision making. The reports also encourage businesses to think more laterally about how to use patent information to gain commercial and competitive insights; for example, whether patent activity in a particular area is waxing or waning, who is driving new patent activity (universities, or large or small companies) and where patent applications are being abandoned.
The interactive format of the report was a highlight. This provides a simple interface to allow users to drill down into the data and address specific questions. Participants also said that it was easy to use, comprehensive and provided useful listings of inventors and specific patents.
The Patent Analytics Hub is working with the Entrepreneurs’ Programme team to refine the Hub’s service offering. The Patent Analytics Hub also published a suite of products to assist global researchers and decision-makers in identifying know-how, supplies and manufacturing resources required to respond to the COVID-19 pandemic. This included creating interactive visualisations about medical equipment, diagnostics, therapeutics and vaccines.