The Importance of a Patent Search for Securing Grant Funding for Innovation
A worldwide patent search is helpful when seeking a grant for innovative projects. Indeed, according to Innovate UK ( UK's innovation agency, a part of UK Research and Innovation (UKRI), conducting a global patent search can help demonstrate the novelty and protectability of your innovation, which is crucial for funding applications. This not only identifies existing technologies but also underscores the novelty and distinctiveness of your invention, which is an essential criteria for most funding applications.
Key Reasons for a Global Patent Search
Identifying Existing Technologies: By exploring existing patents, you can pinpoint where your innovation fits within the current technological landscape. This helps identify gaps and opportunities for your project to make a significant impact.
Avoiding Infringement: It is important to try to avoid infringing on existing patents. This demonstrates due diligence to funders and showcases that your project is unique and legally sound.
Strengthening Your Grant Application
Proving Novelty: Funders prioritise projects that offer unique solutions. A detailed patent search proves that your innovation stands out from current technologies, making a compelling case for funding.
Market Potential: Understanding existing patents helps position your innovation within the market. This clarity shows funders that your project has a viable path to commercialisation, increasing their confidence in its potential success.
Building Credibility
Incorporating the results of a patent search into your grant proposal showcases your comprehensive understanding of the field. This not only enhances your credibility but also aligns your project with the rigorous expectations of funding agencies.
How to Conduct a Patent Search - The Innovate Method
Our research team uses cutting-edge databases to conduct thorough searches on technologies or scientific discoveries within your targeted innovation field.
We create custom patent terminology and develop specialised patent search and classification techniques.
Our detailed reports describe the current state of the art, in the targeted scientific field.
In conclusion, a worldwide patent search is a strategic move that significantly bolsters your grant application. By demonstrating the originality and potential impact of your innovation, you meet funders' expectations and lay a solid foundation for your project's success.
If you would like to know more about our patent search service or how to get funding, please send your project to us in confidence here. An Innovation Coach will review your idea and advise you on the best steps to proceed