Innovation is the key when it comes technological advances in business sector.
With the pandemic having hit the world two years ago, the past months have seen a wave of innovations in the technical know-how when it comes to ease of doing business worldwide.
The companies who are at the forefront of this advancement in technology are the cornerstone of economic growth, no doubt. Whether it is keeping track of client problems, or supplying solutions to the same, making strategic decisions and their subsequent execution cannot be done without necessary patents and technological help.
GreyB, a visionary company launched when recession was at its peak during 2008, understands this dilemma of not every company owner being able to afford the extra cost of hiring the innovation necessary for the successful run of operations. Therefore, the company decided to launch a platform where knowledge was available to companies who wanted to piggyback on innovation, without having to burn a hole in their budget.
Just like one could learn from other’s mistakes, GreyB offers a chance to business owners to use technology and innovation invented by others to resolve their own problems. The company is actively involved in the following three areas – 1)Helping companies pinpoint future technology areas and whitespaces; 2) Helping companies generate money for their innovations, and 3) Helping companies defend themselves in patent-related legal cases.
Shikhar Sahni, Sr. Vice President at GreyB for its R & D Strategy, explains his company’s approach, “One easy way companies can innovate is by correlating insights from nearby industries that can impact the business. Patent activity doesn’t always have to be a solution to present-day problems. Sometimes, a company can benefit by keeping an eye out for startups that are solving problems that might arise in the future of business world. By looking at futuristic patent activity, companies can resolve the cost and solution problem at once.”
Usually, if a company doesn’t innovate with time, the technology that it is using may end up being obsolete. With that the chances of success of a company are also reduced. Technology keeps advancing with every passing minute and the best way to keep track of it is by asking for help, such as provided by companies like GreyB.