- Aims to democratise IP valuation through automation
- Second-round of funding by end of 2023 to expand features
“Despite businesses putting in the effort to conceptualise and protect their IP, most of the time they are unable to commercially exploit it due to challenges in getting financing,” explained Tee Lin Yik, CEO and Founder of Valuing IP, a Malaysian startup that specialises in IP evaluation.
He said this in conjuunction with the company’s launch of its proprietary IP valuation software designed for companies of all sizes and industries in the ASEAN market. It is touted as ASEAN’s first intellectual property valuation software and digital platform.
Valuing IP’s software is available on a one-off or long-term subscription with a starting price of US$1,342 (RM6,000). It can automatically generate reports that are internationally compliant with International Valuation Standards Council (IVSC), International Financial Reporting Standards (IFRS), and International Accounting Standards Board (IASB) within three to seven days.
With these features, the software aims to make IP valuation affordable, standard-compliant, simple, and reliable.
“The software is an advancement in how IP assets can be valued and transacted. With it, businesses and companies can understand and realise the full potential of their IP portfolios, decide on how to pursue commercial or strategic opportunities based on that potential, and together with the IP community, facilitate the growth and refinement of the IP ecosystem,” added Tee.
Poised for growth
Valuing IP was founded in Malaysia in September 2021, and expanded to Singapore and Indonesia in 2022. Its founding team has a combined experience of 40 years in the IP domain.
It is currently in conversations with policymakers and companies from Indonesia, Singapore, the Philippines, India, and most recently, Japan.
The company is working towards raising US$1.788 million (RM 8 million) at its second-round funding by the end of 2023. It intends to expand the software and digital platform’s offerings, including the IP marketplace portal for IP tradings, and expand its presence in the ASEAN region.