The International Investment and Innovation Forum on June 25 Co-hosted by Citiesabc Openbusinesscouncil and The University of Oxford's TMCD
OxValue.AI, a big data based company, originated from groundbreaking research from the Technology and Management Centre for Development (TMCD), in University of Oxford, will offer a novel way of determining the monetary value of a technology (pre or post patent grant) to fill a significant gap in existing methods, and potentially creating a decision-making tool for investors.
A variety of methods are currently used to work out what new technologies are worth, from simple financial formulas to highly complex techniques. However, the existing methods have significant drawbacks: they are either subject to assumptions of future income, or rely on subjective assessments, or based on past investment and do not reflect the value of creativity and novelty, or are purely theoretical and cannot be used in practice. This means they tend to have poor predictive power.
OxValue.AI will launch and pioneer a new approach drawing on significant quantities of data. OxValue.AI is designed to commercialise the VEST (Valuation of Early-Stage Technology) Tool, which leverages big data of startup companies and patents, initially in the Information and Communication Technology (ICT) industry. The VEST tool is also an algorithm that can estimate the monetary value of a technology (pre or post patent grant).
VEST was developed in a research project led by Professor Xiaolan Fu – Professor of Technology and International Development, University of Oxford and Chair of OxValue.AI. The researchers created a database that matched all UK start-ups – defined as being less than five years old between 2006 and 2015 – with records of patents granted in the relevant technology fields by the world’s major patent grant offices during the same time period.
A Groundbreaking Tech Valuation Tool: Oxvalue.Ai Harnesses The Power Of Data To Determine The Worth Of A Technology With Unparalleled Precision
The OxValue.AI will provide the service to value technology companies based on how the characteristics of the patents, the characteristics of the companies themselves, and the market into which the technology was introduced explained variability in their ultimate value. 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. The founding members including Professor Xiaolan Fu, the director of the TMCD, as the Chair of the Board, Professor Diego Sánchez-Ancochea, Head of Oxford Department of International Development, and Board Member of the company, and Professor Yu Xiong, Associate Dean International at University of Surrey, and Managing Director for the company.
‘The model has already proven itself to have a highly accurate predictive power, especially for technologies at an early stage of commercialisation,’ said Professor Fu, Chair of OxValue.AI. ‘It also uses completely objective data, which is a significant improvement on existing methods.’
The International Investment and Innovation Forum
OxValue.AI will be launched during the International Investment and Innovation Forum taking place via Zoom on Friday 25th June 2021 in partnership with openbusinesscouncil.org. The forum and launch will be run in partnership with the Technology and Management Centre for Development (TMCD) at the Department for International Development, University of Oxford (ODID), and the fast-growing open business platform openbusinesscouncil.org, a Leading Global Digital Business Directory Certification and Marketplace platform. Created by a team of global thought and business leaders with more than 20 years of experience working with governments, business networks, tech ecosystems, universities, we offer a business directory submission and digital blockchain AI certificate for businesses and professionals.
Notable speakers to address this event will include Prof. Xiaolan Fu, Director of TMCD at Oxford University; Prof Diego Sanchez Ancorchea, Head of ODID at Oxford University; The Pro Vice Chancellor of Oxford University; Lord Tim Clement Jones, Co-Chair of the All Party Parliamentary Group on Artificial Intelligence; Sacha Wunsch-Vincent, Head of Economics and Statistics Division, WIPO; Co-Editor, Global Innovation Index; Eugene Qian, Chairman of UBS Securities; Dr. Junmin Kong, CEO of IPRUN; Vernon Sankey, Director Board Of Directors, Atos SE and Chris Fellingham, Oxford University Innovation and Mr Dinis Guarda, the Chairman of Open Business Council. Government representatives like Mr. Shabbir Ali Qureshi – Minister of State for Housing and Works, Pakistan and Ms Dzuleira Abu Bakar – Group CEO at Technology Park Malaysia Corporation, will also attend to the event as speakers.
openbusinesscouncil is pound to co-organize the launch event.
Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.
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