It did not happen exactly with a snap of the fingers. It took consistent years of hard work with nurturing and support by NUS Enterprise for PatSnap to be what it is today – a unicorn in business – a company valued at more than US$1 billion. Its R&D intelligence as well as IP intelligence platforms are used by more than 10,000 customers around the world.
Today, its founders, two NUS Overseas Colleges (NOC) alumni, can proudly proclaim that they have left their fledgling days far behind when they first formed the start-up in 2007. The company now has offices in the US, the UK, Canada, Japan and China. Its close ties with NUS and access to Singapore’s talent eco-system and dense network of industry partners has enabled it to launch an R&D centre in Singapore three years ago.
In fact, founders Mr Jeffrey Tiong (NUS Engineering, Biomedical Engineering) and Ms Guan Dian (NUS Computing, Information Systems), both previous NUS Outstanding Young Alumni Award winners, have just announced that the company has secured US$300 million in Series E funding. This puts them in unicorn territory, which is reserved for start-ups valued over US$1 billion – a first for NUS-supported start-ups.