Oklahoma Patent of the Month – April 2023
Innovation is a major driving force for growth and development, with many companies striving to come up with new and groundbreaking ideas. There are two types of innovation; incremental and radical. Radical innovation is more complex and requires more effort to develop, as it involves the creation of something completely new, rather than improving upon something that already exists. Despite the growing body of literature on the mechanisms of radical innovation, there is a lack of technological systems that operationalize the knowledge of these mechanisms to facilitate the production of new radical innovations.
Exaptive Inc, a technology startup based in Oklahoma, is working towards solving this problem by developing a platform that fosters radical innovation through complementary differences. A complementary difference is the introduction of a perspective that is not usually present in a particular context but is compatible with at least one aspect of the problem context.
Exaptive’s platform is designed to create collaborations between individuals from diverse fields who have different ways of thinking and approaching problems. The platform identifies complementary differences and matches people from different fields, providing them with tools and resources to work together towards a common goal. It is built on a foundation of machine learning algorithms that analyze large datasets to identify patterns and connections between individuals and fields of study.
Exaptive’s platform is unique in that it doesn’t rely on assumptions based on past behavior, which can lead to filter bubbles, but instead seeks to introduce new perspectives and ideas into the collaboration process. It’s designed to encourage users to step outside their comfort zones and engage with individuals and ideas that they may not have otherwise encountered. This approach leads to the introduction of new ideas and perspectives, resulting in a more creative and innovative outcome.
Exaptive’s platform has already been used in a variety of fields, including healthcare, environmental science, and social sciences, among others. One notable success story is in the field of agriculture, where the platform was used to match biologists and software engineers to create a new system for monitoring plant growth using machine learning algorithms. This collaboration led to the development of a groundbreaking system that has the potential to revolutionize the way we monitor plant growth and increase agricultural yields.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
