India is on course to become one of the leading hubs for innovation, research and development. The intellectual property industry is also assessed to have a huge growth potential in the current Indian and Global context. With regards to this, the National Association of Software and Services Companies (NASSCOM) today, unveiled its report titled ‘Emerging Technologies: Leading the next wave of IP Creation for India’. The report showcases how companies in India are creating IP assets in the US, which is one of the most favored destination for filing patents.
Some key statistics include:
- Over 4600 patents filed in the US over the period 2015 -2018 from Indian domiciled companies (this is as per published patents and the numbers will increase as there is an 18 month lag). 40% of the tech patents filed have been granted
- Indian companies and startups filed 60% of the patents, while international companies represented a 25% share.
- Artificial Intelligence, Cyber Security, IoT and Cloud Computing accounted for over 50% of the tech patents filed in 2017/1
- AI is the front runner in the emerging technology space with over 300 patents and Machine Learning was the leading sub-domain with over 70% share
- Authentication, Sensors and Cloud Management were the leading sub-domains in Cyber Security, IOT and Cloud Computing respectively.
4. During 2015-2018, Indian Start-ups have filed nearly 200 patents in the US, majority of which focused on emerging technology areas like Image Processing, AI, Cyber Security, Vehicle Technology and IoT
5. Apart from the established application areas of healthcare, hardware and software, newer application areas including digital payments, e-commerce, security and navigation, are leading the patent growth story
The report highlights the fact that India domiciled companies filed over 4,600 patents in the US between 2015 and 2017-18, of which majority were from the technology domain, with Artificial Intelligence being the fastest growing area followed by IoT. The share of technology patents has consistently increased to 64.8% in 2017-18 from 51.1% in 2015, while computer and communication technology patents witnessed a decline. In technology patents, the share of emerging technologies has increased consistently to 56.3% in 2017-18 from 38.3% in 2015. Artificial Intelligence leads the emerging technologies patent race both in terms of total number of patents with 330 patents being filed in as well as growth rate of CAGR 63.1% over the period 2015-18. Apart from AI, there has been a consistent growth on building IP in other emerging tech domains with patents filed in Cyber Security (193), IoT (107) and cloud computing (88) accounting for over 50% of the tech patents filed in 2017/18.
Over the past few years, start-ups have contributed to the IT-BPM industry by building new innovative products and services. As per the report, in the period from 2015-18, Indian start-ups have filed nearly 200 patents in the US, majority of which focused on emerging technology areas including Image Processing, AI, Cyber Security, Vehicle Technology and IoT.
Sharing her views on the launch of the report, Debjani Ghosh, President, NASSCOM said, “It has been phenomenal to witness the advancements and technological innovation and human intellect with the volume of patents being recorded over the years. Innovation is the key to driving transformation and such patents and trademarks are a testimony to this transformational growth. As a country, India can further strengthen its potential as an innovation hub through more investments in research and strategic collaborations. We are confident that we will usher in a new wave of innovation and intelligence in the country.”
Beyond technology, areas like chemistry and chemical compositions, and pharmaceuticals patents lead the non-tech arena with 31.6% and 29% share in the total non-tech patents respectively. The study also highlights the patent growth story in newer application areas including cyber security (43), digital payments (16), e-commerce (35) and navigation (34).
NASSCOM has been organizing various IP awareness workshops for the industry including tech Startups highlighting the needs to protect their innovations under IP laws. In future too, NASSCOM plans to focus on these workshops, which will touch upon creating awareness on various IP laws, filing process including generating awareness on Government schemes and incentives for Startups to encourage innovation.