For the past three years, Intellectual Ventures has been inventing collaboratively with our global network of more than 400 leading universities and research institutions, and some 3,000 individual inventors through our Invention Development Fund (IDF). Together with this global invention network we work to develop new invention ideas and find solutions to important problems through technology. Our customers can access this network to help them address issues that are critical to their business today, or to get access to valuable groups of future invention rights.
Now, after only three years, this invention network has achieved the important milestone of generating 10,000 inventions. To put this number in perspective, this is a larger number of inventions than most leading universities have generated over the same period of time (Stanford University, to pick just one example, evaluates about 450-500 new inventions per year).
Many of these inventions address complex, global issues that require a unique pairing of knowledge and resources to develop radical solutions. IV, working with its global invention network, brings together the right minds and provides the capital and expertise to see those ideas become valuable IP. We pay the costs of turning the inventions we accept (after a rigorous internal review process) into strong patent applications, packaging them into portfolios and marketing the resulting IP to the world’s leading companies. This helps inventors realize the value of their ideas and helps companies gain access to a greater number of valuable inventions.
We believe there’s value in ideas, and we’ve helped usher 10,000 new ideas into the world. These ideas have helped solve problems both large and small, helped encourage brilliant inventors, and will continue to help drive the market for invention as we work on the next 10,000.