May 14, 2019 (Toronto) – PatSnap, a leading provider of R&D analytics for analyzing tech trends, market planning, competitor intelligence and maximizing return on investment, has announced the opening of its North American headquarters in Toronto.
After opening a small office in Toronto in 2018, PatSnap soon realized the region’s unmatched potential for scaling up its business. Toronto provided PatSnap with a positive investment and talent recruitment experience. The PatSnap leadership team decided to make Toronto its new North American headquarters, with a commitment to grow operations here significantly.
“Toronto represents everything that PatSnap is – innovative, successful, open, engaging and dynamic. For us, this stunning city is the perfect place for our new North American headquarters,” says Jeffrey Tiong, Founder and CEO, PatSnap.
Founded in 2007, PatSnap employs over 700 people and has raised over $100-million in funding from global investors, enabling the company to build teams in the U.K., U.S., China, Singapore and Canada, and to sign major clients, such as NASA, Ford, Pfizer, IBM and Pepsi. PatSnap harvests the latest innovation news about patents, investments, mergers acquisitions and other critical market data, so its clients can gain insight into market opportunities that would otherwise be invisible to them.
To select the right location for its new office, PatSnap worked closely with Toronto Global, a team of experienced business advisors assisting global businesses to expand into the Toronto Region. The PatSnap office is currently housed at WeWork located at 40 King Street West and employs 30 people today with plans to grow to 100 employees by end of 2019.
"Our government is creating an environment where businesses can thrive, grow and create good jobs,” said the Hon. Todd Smith, Minister of Economic Development, Job Creation and Trade. “We’re pleased to welcome PatSnap to Ontario’s innovative tech community. Ontario is open for business.”
“I am very pleased that PatSnap has chosen to locate its new office in Toronto to take advantage of our talent pipeline and supportive business environment,” said Toronto Mayor John Tory. “Toronto is a magnet for companies around the world and I know that our highly-skilled, diverse workforce will continue to attract tech investment in record numbers – growing our economy and creating new opportunities in the Toronto Region.”
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PatSnap has brought together the world's most comprehensive R&D dataset in one easy to use platform to help innovation leaders analyze tech trends, assess new opportunities, conduct competitor intelligence and maximize return on IP assets. By combining millions of data points from patents, licensing, litigation and company information with non-patent literature, PatSnap provides the world's most innovative organizations with a new intuitive source of information to accelerate their R&D.