PATSNAP MAKES STRONG FORAY INTO JAPANESE MARKET

To date, the world's leading AI-powered innovation intelligence platform has successfully acquired 150 corporate clients and grew more than 100 per cent on average over the past two years in Japan.

TOKYO, Nov. 24, 2023 /PRNewswire/ -- Patsnap, the world's leading AI-powered innovation intelligence platform, has made successful inroads into the Japanese market in a bid to catalyse a surge of innovation in the East Asian country.

At the recent Growth Industry Conference (GRIC) 2023 held in Tokyo, Guan Dian, Patsnap's co-founder, unveiled the company's strategic plans in Japan for the future. GRIC 2023 is Japan's largest hybrid global conference and community specialising in the growth industry with the goal of elevating the country's startup ecosystem to global standards.

During a panel session at the conference moderated by Nikkei's Tsubasa Suruga, Guan and Carmen Yuen, general partner of Vertex Ventures Southeast Asia and India, shared more on Patsnap's global strategy ahead. Vertex Ventures is one of the early backers of the Singapore-founded tech unicorn.

Reiterating Patsnap's commitment to the Japanese market and underscoring the soaring demand for data integrity from Japanese clients, Guan assured the audience that the global leader in innovation and intellectual property intelligence is geared to meet their requirements and needs.

To date, Patsnap has successfully acquired 150 corporate clients in Japan, bearing testimony to its strong presence in the top-tier corporate market.

Over the past two years, Japan has also emerged as Patsnap's fastest-growing market, boasting an average annual growth rate of more than 100 per cent, according to Guan. Recognising Japan's rich landscape of innovative companies and substantial investments in research and development, Patsnap plans to augment the local office to capitalise on the opportunities, as well as foster the generation of groundbreaking solutions in various industry sectors.

Guan added: "We are excited about furthering our investment in Japan and are looking to expand our team. This way, we can acquire more customers and enhance our capability to provide timely and customised services tailored to clients' needs. The positive feedback and support from our customers fuel our determination to strengthen our presence in Japan, in order to ensure that we continue to meet and exceed the expectations of our growing client base."

In the detailed discussion, Guan also elaborated on how Patsnap gained global recognition for utilising advanced AI technology to efficiently process vast amounts of information to support enterprises and individuals in discovering new opportunities in highly competitive environments.

For its current user base of more than 12,000 customers in 50 countries, the company serves as an indispensable resource for accessing market technology, competitive intelligence, and patent insights essential for guiding product development from ideation to successful commercialisation.

About Patsnap

Founded in 2007, Patsnap is the company behind the world's leading AI-powered innovation intelligence platform. Patsnap provides global businesses with a connected, easy-to-use platform that helps them make better decisions in the innovation process. Customers are innovators across multiple industry sectors, including agriculture and chemicals, consumer goods, food and beverage, life sciences, automotive, oil and gas, professional services, aviation and aerospace, and education. www.patsnap.com