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Patenting Trends in India - Fostering an IP-led Digital Economy
Patenting Trends in India - Fostering an IP-led Digital Economy

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This World IP Day nasscom released its 2024 Edition of the Patents report titled "Patenting Trends in India – Edition 2024; Fostering an IP-led Digital Economy”.

The report focused on the global patent filing trends highlighting the rise of Asia in global patent filing driven by China and India. It also talks about the key patent filing trends in India highlighting how the share of resident applications crossed the 50% mark in FY23 with educational institutions being the key driver of this growth.

Source: Patenting Trends in India – Edition 2024; Fostering an IP-led Digital Economy

With Deep-tech start-ups witnessing growth in the country, the report also touches upon the key patent filing trends for the deep-tech startups in India.

The report also summarises the major hits and misses from the patent filing process perspective; and the key recommendations on what the key stakeholders can do make it better.

 

Source: Patenting Trends in India – Edition 2024; Fostering an IP-led Digital Economy

Similar points were discussed in an interesting panel discussion during the launch of the report with the three panellists:

  • Anupam Bhoumick, who was representing the discussion as an individual inventor and is associated with the AV Industry (Audio Video Industry) for the last 25 years. He has introduced many industry first concepts & has 6 patents in his individual capacity. On the professional side he working in an MNC software company in Noida for that last 13 years. His other interests are photography & biking.
  • Arnab Roy Chowdhury the founder of Mestastop Solutions. Who is a biologist with 22+ years of experience and holds PhD. As the founder of Mestastop Solutions, Arnab is focused on solving the unmet medical need of cancer metastasis, which accounts for 90% of cancer deaths.
  • Sachin Jain, Head LTIMindtree’s IP CoE. He is recognized for his problem-solving skills and dedication to protecting the company’s intellectual property. His mission includes fostering a culture of innovation and encouraging inventors to file patents.

During the discussion, Arnab highlighted - How VCs and investors view patents while they decide to fund start-ups. Anupam highlighted the importance of drafting the patent well in techno legal language. Sachin gave a good synopsis on how LTI is focusing on academic partnerships and leveraging them from an innovation perspective, And the key deep-tech technologies that are in focus for IP. All panellists concluded with some key recommendations for the ecosystem. Click here to listen to the complete discussion.

Stay tuned as we deep-dive into the details of these trends in my next set of blogs. Till then Happy Reading!


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Neha Jain
Senior Analyst

Neha Jain

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