From startup roots to global reach
PatSnap is a defining name in success stories of Singapore founders. Co-founded by Jeffrey Tiong in 2007, the company began as a modest attempt to democratize access to patent data. Today, PatSnap serves over 10,000 customers worldwide — from innovation teams in Fortune 500s to R&D leaders in cutting-edge startups.
Jeffrey, a graduate of NUS and Stanford, conceptualized PatSnap while working at the Singapore Economic Development Board (EDB). He noticed the challenges companies faced in navigating global patent landscapes and realized there was a gap for intelligent, user-friendly patent search and analysis tools. That insight, combined with early funding support from Enterprise Singapore, led to the company’s initial launch from a small office space in Singapore.
How PatSnap built a global innovation engine
PatSnap’s core product uses artificial intelligence and machine learning to analyze intellectual property (IP), scientific literature, and innovation trends. Its suite of tools helps corporates and startups alike make informed decisions around R&D investments, M&A strategy, and competitive benchmarking.
In 2021, PatSnap raised a US$300 million Series E round led by SoftBank Vision Fund 2 and Tencent Investment, valuing it at over US$1 billion and propelling it into Singapore’s elite unicorn club. The funds were allocated to product expansion, AI development, and regional growth across North America, Europe, and Asia.
What sets PatSnap apart is its commitment to accessibility and education. It runs Innovation Academy, a global knowledge hub for R&D teams, and has partnered with universities to foster IP literacy. Through its London, Toronto, and Suzhou offices, the company is now a trusted name in innovation intelligence across sectors like pharma, manufacturing, and tech.
PatSnap also aligns closely with Singapore’s Smart Nation vision, helping bridge data, technology, and enterprise innovation. Its collaboration with government-backed initiatives like SGInnovate signals the maturity and global competitiveness of Singapore’s deep-tech scene.
A model for Singapore’s future founders
Jeffrey Tiong is now widely recognized among top Singapore business leaders in tech. His journey from EDB analyst to unicorn founder inspires a generation of SG founders exploring IP, AI, and data science.
The company’s success reinforces that Singapore founders can lead globally by focusing on underserved niches with scalable solutions. By combining technical depth with market understanding, PatSnap has built not just a product — but an ecosystem of innovation around it.
PatSnap’s growth also mirrors the strength of Singapore’s startup infrastructure. With early government grants, access to deep-tech talent, and openness to global capital, Singapore provides the launchpad for ventures to scale with ambition.
Conclusion
PatSnap stands as a benchmark for success stories of Singapore founders — bold in its vision, deep in its innovation, and global in its impact. As deep-tech continues to rise in Asia, companies like PatSnap are showing the world how Singapore business leaders can shape the future of innovation.
Discover more inspiring journeys on Feature.Asia: 10 Entrepreneurs Under 30 Changing Asia’s Economy
