Increasing startup intellects of India – Einfolge in The Hindu business line
Increasing Startup Intellects of India – A view of Einfolge Director Mr. Binod Singh published in “The Hindu”
The introduction of definition ‘Startup’ in the patent rules enables Startups to file patents at much lower costs and is expected to cut the time frame of grant from five - seven years to two and a half years by March 2018.
Startup India initiative plays a major role in increasing the intellect brains of India especially the Startups. Government of India makes such benefits available to startups to encourage domestic filings.
Since most startups in India are generally either e-com sites or service focused, there were less patent filings from startups earlier. With more IPR awareness and Government beneficial policies, India witness’s IT enabled patents from Startups in e-com industries recently.
Our Director Binod Singh has been interviewed by renowned Newspaper “The Hindu” for his views on the topic. Here are his views:
“Earlier the laws were rigid, but now most of them have been relaxed for start-ups. The government had modified patent rules and made them similar to those in the US, which has resulted in most start-ups now filing IT-enabled patents such as in e-commerce and online,” said Binod Singh, Director of Einfolge Technologies, a patent analytical company.
Increasing value
“Venture Capitalists (VCs), who are increasingly investing in start-ups, are prefer to pump money into start-ups that have filed patents. If a patent has been filed, it means that the project has some innovation, which will result in increased market value. Further, getting a patent would also put these companies in the Ivy League of Silicon Valley start-ups,” he added.
There are several spaces where Startups can do something innovative to address the unique challenges of substantial growth of the country through IPR.