Boosting Early-Stage Startup Competitiveness with Customized Patent Strategies! KIPO Listens to IP-Based Startup Voices

On October 30 at 4:30 PM the Korean Intellectual Property Office (KIPO Commissioner Kim Wan-ki) visited Huotics Co. Ltd. a wearable robot manufacturing startup based in Dongjak-gu Seoul to hear directly from early-stage startups. This on-site visit was part of KIPO’s efforts to review the outcomes of the ‘IP Nurturing Program’ designed to support startups and to gain insight into the intellectual property (IP)-related challenges they face.

The ‘IP Nurturing Program’ supports startups that lack specialized IP personnel enabling them to conduct research and development and manage their businesses based on IP. Under this program experts analyze patents from domestic and international competitors for the technology held by each company providing tailored strategies to secure strong patents and offering practical training on IP management. In 2023 the program supported 758 companies which collectively saw a 14.4% increase in total revenue and a 20.7% increase in employment compared to the previous year. Among these companies 419 secured business capital totaling 196.9 billion KRW through investments.

Huotics Co. Ltd. founded in July 2022 develops wearable robots that combine hardware and software to analyze individual walking patterns and provide customized support. Through KIPO’s support Huotics recognized the importance of securing IP and has since filed over 50 trademark design and patent applications both domestically and internationally including in the U.S. Their main products include wearable robots for lower body strength rehabilitation and mobility assistance. Through the ‘IP Nurturing Program’ they also secured patents for a leisure-focused golf suit expanding their product lineup. As a result they were awarded an Innovation Award at CES 2024 and successfully raised 3.5 billion KRW in pre-Series A funding.

Commissioner Kim Wan-ki of KIPO stated “For startups to secure investment and gain a competitive edge over established players securing patents is essential” adding “KIPO will continue to expand support to help startups grow into global unicorns through the power of intellectual property.”

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