OxValue.AI is a technology valuation company that utilizes data to evaluate the usefulness of technology with unmatched accuracy.
This company works with Oxford University to provide a unique technique of determining the financial value of technology (before or post-patent award), filling a key gap in existing approaches, and perhaps generating a decision-making tool for investors.
OxValue.AI was launched through Zoom on June 25th, 2021 as part of the International Investment and Innovation Forum in collaboration with openbusinesscouncil.org. The company was launched via Technology and Management Centre for Development (TMCD) – part of the Oxford Department for International Development (ODID) in the University of Oxford.
OxValue. AI goal is to commercialize the VEST (Valuation of Early-Stage Technology), which integrates a variety of factors, including patent data, first in Information and Communication Technology (ICT) firms. The VEST program also includes an algorithm for estimating the monetary worth of a technology (pre or post-patent grant).
VEST was created as part of a research initiative led by Professor Xiaolan Fu, University of Oxford Professor of Technology and International Development and Chair of OxValue. AI.
The researchers built a database that included all UK start-ups. The databases were less than five years old (between 2006 and 2015). Therefore it was possible to keep track of patents awarded in relevant technical fields by the world’s major patent grant organizations within the same time period. In the resulting database, almost 1,500 patents were connected to 143 UK ICT firms.
Based on the findings of this study, the researchers were able to develop a model that described how the qualities of the patents, the characteristics of the firms themselves, and the market into which the technology was introduced caused variations in their final worth.
The model was able to explain around 85% of the variations in the value of technologies owned by the start-ups in the database and will now be used to support companies in doing their own evaluations.
OxValue.AI will offer several following services which include:
· Valuing and budgeting technology investments, and providing support to international organizations such as the UN, EU, and World Bank that are active in technology transfer, through accurate and transparent assessment of underlying technology.
· Supporting national governments with GDP accounting and knowledge value.
· Assisting global companies with mergers and acquisitions.
· Funding evaluation for financial institutions and aiding investors and research analysts in Venture Capital, Private Equity, and Investment Banks, fairly and transparently for both sides.
This firm’s goal is to create a social enterprise that uses a multi-faceted business model to ensure financial sustainability while achieving its core goals of enabling technology transfer to develop countries and funding research at the Technology and Management Centre for Development (TMCD) at the University of Oxford’s Department for International Development (ODID).
OxValue. AI will cover a key need in existing techniques by providing a unique means of evaluating the financial worth of a technology (before or post-patent award) and becoming a decision-making tool for investors. Several methodologies, ranging from simple financial formulae to very sophisticated procedures, are presently utilized to determine the value of new technology.
Professor Xiaolan Fu – Chair of the Board
Xiaolan Fu is the Director of the Technology and Management Centre for Development (TMCD), Professor of Technology and International Development and Fellow of Green College at Oxford University and, through the TMCD, responsible for OxValue.AI as Chair of the Board.
Her research interests include innovation, technology and industrialisation; trade, foreign direct investment and economic development; emerging Asian economies; innovation and productivity in the UK/US. Currently, Prof. Xiaolan Fu is focused on innovation collaboration, digital technologies and inclusive development, knowledge transfer within and between organisations, and green innovation policy.
She has published extensively in leading international journals independently or in collaboration with others. Her recent books include Innovation under the Radar (forthcoming), China’s Path to Innovation, China’s Role in Global Economic Recovery and The Rise of Technological Power in the South. She is Editor-in-Chief of the Journal of Chinese Economic and Business Studies, and serves on the editorial boards of Industrial and Corporate Change, International Journal of Technology Management, and four other international journals.
Professor Yu Xiong – Managing Director
Prof. Xiong is Associate Dean International of Surrey University, this university wide role enables him to work with the university’s three faculties and more than 20 schools/departments on international collaborations. Professor Xiong is recently appointed as the director of the newly established Centre for Innovation and Commercialization. He is also Chair of Business Analytics in Surrey Business School and an academic member in the Department of Business Transformation. Prior to joining Surrey, he worked for University of York(as EPSRC Research Fellow), Queen’s University Belfast(as Lecturer and Director of China Management Research Institute), University of East Anglia(as Associate Professor and Associate Director of External Engagement for Norwich Business School, Director of University’s ADAPT Group, with 50 million Pounds VC fund), Northumbria University(as Professor and Director of Enterprise Engagement/Faculty Lead for Knowledge Exchange/Head of Supply Chain Management Group). During his academic career, he has brought in more than 26 million pounds income to the universities and businesses that he associated with(Research Income, Donation, Investment etc.).