GFT presents CODE_n: Newcastle based Deltasight joins the IP dots with big data analytics
Last week, the CODE_n UK finalists joined the GFT team at the CODE_n press preview. A big thank you to all the members of the media who were able to join us, EY and Clemens Weisshaar to lift the lid on our plans for CeBIT, such as Kram and Weisshaar’s breathtaking big data visuals. Here, I am continuing my review of the CODE_n startups from the UK. Under the spotlight this time is a big data jewel from the North of England looking to utilise big data analytics as a source of information on intellectual property.
Deltasight was originally formed in Estonia in 2011 as a research crowdsourcing platform, but then pivoted into a big data company. After being selected for the UK based Ignite accelerator program, the team moved to the banks of the Tyne and hasn’t looked back since. Deltasight’s co-founder Taavi Raidma describes the Ignite team as “very supportive” and despite initial plans to ultimately move down to London, there are now no plans to “go south” as Newcastle-upon-Tyne provides a solid base for the business which would cost between 30 to 50 percent more in London. Raidma says “it makes perfect sense to be based in places like Newcastle where it’s cheaper but it’s still really accessible.”
From an IP perspective, there’s an increasing amount of data out there although it remains really fragmented. For example, if you look at a company, you get financial data from one place, you get IP data from another and you get background on the founders and the executive team from somewhere else. Deltasight pulls together all these different data sources and its technology allows users to connect the dots. It reduces a lot of research costs and gives a comprehensive view of a company’s intellectual property. It provides a view of intellectual property standing not only in terms of the number of patents owned, but also other types of intangible assets.
Looking at the financial services and investment industry angle, Deltasight has a lot to offer to the investment community. It is a valuable tool for those looking for potential investments and it helps investors to use data on IP to figure out the most attractive investments. Up until now, it has been based on subjective thoughts of what IP might be worth; there have never been tools that are able to systematically evaluate with a high level of confidence. As Taavi says “It’s a tough task, but our first experimental solutions look very promising.” In the future, this type of information will also allow the banks to make a more informed assessment of IP and allow businesses to be able to more readily use their IP assets as collateral to borrow against. Deltasight recently collaborated with Forbes’ contributor, Hadyn Shaughnessy, and published an article in Forbes on the IP positions at US and EU banks, a fascinating read.
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