In November of 2019 Steve Hafif launched Cypris, an online patent marketplace providing inventors, patent researchers and the general public access to an innovative platform that will change the face of the IP industry. In four months, Cypris has accumulated over 600 patent opportunities, is currently hosting listings for seven leading Universities and has recently been named a top 50, New York-based startup to watch in 2020 by BuiltIn.
Currently, 97% of patents fail to become commercialized, leading to legal bottlenecks in innovation. Also, the lack of buyer demand data has led to over six billion dollars in lost patent investments per year. Cypris’ mission is to see more innovations brought to life, by providing transparency in market demand, organizing service providers in one location and providing advanced marketing tools for patent owners. Recently partnered with Techolution, an Inc. 500 IT company, and backed by a successful seed round of funding, Steve and his team have built Cypris with the goal of offering useful solutions to all stakeholders in the patent ecosystem.
Cypris’ core offering is ipcypris.com, an innovative platform that combines a specialized search engine with a patent marketplace. Cypris combines modern techniques in design and data analytics to present patent listings to relevant potential buyers and licensees. Over time, Cypris intends to bring additional patent assets from the academic sector to the fore, along with patent listings supplied by leading technology companies and inventors.
Cypris’ CEO Hafif explains, “There is a serious disconnect between research institutions, independent inventors and operating companies. The opaqueness of the patent market has led to a depressed amount of commercialized innovations and lost investments. We believe a fundamental reason for that disconnect is poor communication tools.’ Steve goes on to say, “When looking at the skeleton of a patent document, purely as an instrument for legal protection, it can be quite bare. What interests me is the information surrounding the abstract and claim. Who published the application, at what period in time, and why? Understanding the story behind a patent document can paint a vivid picture of an organization’s or individual's' intentions within the innovative economy. Our goal is to use data to match organizations, research institutions and inventors with equal interests and see more innovations brought to life.’
Cypris is currently building independent pages for University Tech Transfer institutions to manage & present their available patent opportunities in one centralized location. In addition, Cypris will be launching a service provider page, where brokers, attorneys and more can present their offerings to niche patent owners.
For any inquiries please reach out to [email protected].