Einfolge Technologies Makes Patent Research Easy for Startups and Corporates - YourStory Interview with Einfolge Directors
The Bengaluru-based startup works with its clients to ideate and monetise their IP assets, as well as provide research on the patentability of innovations.
At a glance:
Startup: Einfolge
Founders: Binod Singh, Ruhan Rajput
Where it is based: Bengaluru
What do they solve: A platform that allows researchers to discover patented work and offer consulting services.
Funding: Self-funded
Naveen Kanan is a researcher at Bangalore University studying electrolyte composition in modern-day lithium ion panels and figuring out how to make batteries more efficient. He wished to know if he could patent his research but was confused as to whether he had to approach a lawyer or an industry expert. He was desperately in search of a platform that has all the data of global patent research, and which could help him discover whether his research could be patented or not. This is where a startup like Einfolge Technologies comes in handy. Founded by Ruhan Rajput and Binod Singh in 2014, the firm runs an active platform that allows researchers to use patent analytics and market research fields to help them discover their research patent worthiness.
If you are an astute technology person, you would know the importance of filing a patent and getting it granted. But any technocrat can tell you that filing a patent can be cumbersome, time consuming and requires patience, which means you have to spend money for the best IP lawyers. If you are a new startup or a researcher then chances are you may not have too much funds. So what if a platform can do this for you and take all the pressure off filing?
Einfolge’s platform helps clients to streamline operations, reduce cost and enhance business efficiencies through its expert solutions. Say, a startup wants to patent a communication protocol. Einfolge crunches data and is able to let the startup know whether the protocol has already been patented or has similar technologies that require some technical answers. That’s when Ruhan and Binod also offer personalised and customised services in the form of consulting with strict adherence to deadlines.
“We work with various organisations such as startups, pharma companies, SMEs, scientists, the agricultural sector and PSUs through customised solutions in patent and intellectual property rights (IPR). Starting from the initial research to the filing of the patent is done by an expert team that understands the hurdles faced by the startups in the initial stage and accordingly tailors solutions to meet their requirements,” says Binod Singh, Co-founder of Einfolge Technologies.
In short, Einfolge plays a crucial role for all those who deal with innovations and wish to protect their IPs across the globe.
Ruhan has a background in Computer Engineering and worked in corporates for a decade. He had worked for JP Morgan besides IT companies like Wipro, and Mastek in Oracle-based database developments projects. He is the technology brain behind Einfolge.
Binod has a M Phil degree in Biotech and also a PGD in Patent Laws from Bangalore University. He worked in the patent sector for 14 years and consulted for independent inventors, CEOs of many large companies and experts from a number of publicly traded companies and research heads of institutes.
Before Einfolge, the duo founded a consulting firm called KNOURA. Over a period of time they realised that they had to productise their knowledge and Einfolge was born in 2014. The word Einfolge is derived from two words - ‘EINBLICK’, which is the German word for insight/intelligence, and ’FOLGE’, which stands for result.
The platform allows clients to do the following:
- Helps clients understand competitive landscape with quick dashboard and analytics.
- Helps them ideate, innovate, protect and monetise their IP assets.
- Provides assistance by way of consultation to clients in every step, from scrutinising the availability of their innovation to securing From pre-filing, post-filing to post grant dated. They provide them a fully integrated solution.
- Conducts research on the patentability of various innovations.
The founders point out that the startup gives confidentiality of data great importance. “Our platform deals with lots of confidential data and is securely delivered to the client,” says Binod.
The business
The business model for the company is the cost of using the platform, which is pay per query and then the consulting fee. The company also charges a yearly retainer fee for organisations with long-term innovations.
In terms of growth, the firm will be doubling their manpower, from the current number of 30, in the next two years. It wants to focus more on new regions such as South Korea, China and Japan.
A good example of Einfolge’s work would be with an Australian manufacturing company that came to them as they were sued for infringement by a multi-billion-dollar US company. Einfolge gave them a solution with detailed infringement studies and probing facts showcasing that the Australian company had not infringed on any of the US company’s product. The Australian company used the data in the US court the US-based MNC had to admit that it made a mistake and went for an out-of-court settlement of the case. Einfolge’s client saved millions of dollars from that.
Some of their big Indian clients are Navratna Oil Company and ONGC. The latter used Einfolge to protect innovations on 126 products.
The startup has invested a seed capital of Rs 2 crore and has crossed Rs 7 crore in revenues. It has on-boarded 150+ clients and has been profitable since the first year itself.
In India the company competes with all law firms and Brain League IP Services. But the founders say that its product-led solutions gives it an edge over the others.