Gridlogics Technologies: Great automatic idea hunter
With nearly half-a-million patent applications filed globally in 2009, how do you know that the product your company's research team is developing has not already been patented somewhere?
With nearly half-a-million patent applications filed globally in 2009, how do you know that the product your company's research team is developing has not already been patented somewhere? Or, maybe you are looking for ideas from patent filings. Either way, to do a check, you need a huge staff and plenty of time.
Well, you need not if you have a text mining tool such as the one developed by Gridlogics Technologies, which was founded in 2004 by Manish Sinha, an electronics and communication engineering graduate from the Birla Institute of Technology, Mesra. Sinha started his career with Hughes Software in Delhi where he specialised in text mining in which intelligence relevant to a consumer is extracted from large volumes of data.
After working in the software services sector for almost four years, Sinha was clear that he wanted to make his own products instead of developing code for others. Friends, family and co-workers encouraged him. "One evening I read Rich Dad, Poor Dad and quit my job the next day. Two months later, Gridlogics was formed," says Sinha.
Gridlogics focused on building products initially, using two technologies - grid computing and text mining. "After about one year, we focused completely on text mining and began work on a product designed for textmining patents," says Sinha.
The result was Patent iNSIGHT Pro, Gridlogics' flagship product that was launched in 2007. A document describing a patent can run up to 30 pages. "We use algorithms to process large volumes of patents to bring out intelligence that is relevant for professionals in large companies that are R&D-driven, as well as legal professionals," says Sinha.
The first buyer was from the United States, Washington Patent LLC, which provides patent research services for clients worldwide. Says Shane Davis, Search Manager for Washington Patent: "Since purchasing the software, I have completed over 150 projects and was surprised at how available and comprehensive Gridlogics' technical support is." Since then, Gridlogics has found users elsewhere in the US, Europe and Asia Pacific.
Sinha, who started Gridlogics with personal funds of Rs 15 lakh, claims the company is doubling its revenues every year. Gridlogics signs up 4-5 new accounts every month, from single-licence subscriptions to a 5-10 licence accounts.
Sinha says they are a profitable company and profit from the flagship product is helping in funding the work on newer products. "Our products help our customers save almost 70 per cent of the time they would otherwise have to spend on manual research," he says. Sinha, who loves to go on long drives to new destinations when not at work, says: "We want to be leaders in research and intellectual property and analysis products."
-Anusha Subramanian
Well, you need not if you have a text mining tool such as the one developed by Gridlogics Technologies, which was founded in 2004 by Manish Sinha, an electronics and communication engineering graduate from the Birla Institute of Technology, Mesra. Sinha started his career with Hughes Software in Delhi where he specialised in text mining in which intelligence relevant to a consumer is extracted from large volumes of data.
After working in the software services sector for almost four years, Sinha was clear that he wanted to make his own products instead of developing code for others. Friends, family and co-workers encouraged him. "One evening I read Rich Dad, Poor Dad and quit my job the next day. Two months later, Gridlogics was formed," says Sinha.
| Main markets: US: 50% Europe and Asia Pacific: 25% Domestic: 25% Differentiator: Its flagship product stands out with core algorithms, which go deep into the text and bring out relevant insights. And it is customisable Customers: Research & Development and legal patent professionals Business: The product helps clients globally in deriving actionable intelligence from masses of patent data First order: In 2007 Total income: Not disclosed |
The result was Patent iNSIGHT Pro, Gridlogics' flagship product that was launched in 2007. A document describing a patent can run up to 30 pages. "We use algorithms to process large volumes of patents to bring out intelligence that is relevant for professionals in large companies that are R&D-driven, as well as legal professionals," says Sinha.
The first buyer was from the United States, Washington Patent LLC, which provides patent research services for clients worldwide. Says Shane Davis, Search Manager for Washington Patent: "Since purchasing the software, I have completed over 150 projects and was surprised at how available and comprehensive Gridlogics' technical support is." Since then, Gridlogics has found users elsewhere in the US, Europe and Asia Pacific.
Sinha, who started Gridlogics with personal funds of Rs 15 lakh, claims the company is doubling its revenues every year. Gridlogics signs up 4-5 new accounts every month, from single-licence subscriptions to a 5-10 licence accounts.
Sinha says they are a profitable company and profit from the flagship product is helping in funding the work on newer products. "Our products help our customers save almost 70 per cent of the time they would otherwise have to spend on manual research," he says. Sinha, who loves to go on long drives to new destinations when not at work, says: "We want to be leaders in research and intellectual property and analysis products."
-Anusha Subramanian
