NEC X, the Silicon Valley innovation accelerator backed by NEC’s advanced technologies, has proudly announced the graduation of Chekable from its prestigious Elev X! Ignite venture studio program, in addition to a new investment from NEC X to help scale Chekable’s transformative AI solution for inventors and patent professionals.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240724671018/en/
Chekable, a transformative AI solution for patent professionals, graduates from NEC X’s Elev X! Ignite program and debuts platform that revolutionizes the patent filing process. (Graphic: Business Wire)
Alongside this milestone, Chekable is now offering early access to its groundbreaking generative AI platform, designed to revolutionize the patent filing process. The first-of-its-kind solution automates and streamlines crucial yet time consuming aspects of patent applications, protection and prosecution, saving upwards of 70% or more time in drafting documents. This platform will revolutionize workflows for corporate inhouse IP teams, boutique patent law practices and multi-practice law firms.
“Chekable’s innovative approach to patent management epitomizes the forward-thinking innovation we champion at NEC X,” said Shintaro Matsumoto, President and CEO of NEC X. “Their comprehensive solution and use of AI redefines the patent process, making it more efficient and accessible. We expect impressive results from Chekable, as they continue to enhance and scale their transformative platform worldwide.”
Currently, the patent application process is notoriously complex, time-consuming and siloed, resulting in inefficiencies and delays that can take years to complete a filing. While some solutions exist, very few cover the entire process. Chekable’s vision is to offer a comprehensive suite of tools that streamline the entire patent lifecycle in one end-to-end platform.
Adhering to local jurisdiction language requirements, Chekable’s advanced solution can accurately and efficiently generate patent applications, search and monitor potential infringement with robust semantic search, and even matches patent professionals with inventors in need of guidance.
Chekable’s co-founder and CEO, Nipun Kumar, understands the challenges and complexities of filing patents first-hand, having authored over 60 patents, including numerous AI solutions, for Fortune 500 companies. Additionally, Chekable’s CAIO and co-founder, Ashutosh Chapagain, is an NLP specialist having deep AI and LLM knowledge working with robotic startups and institutions, such as Indiana University.
“NEC X has been an extraordinary partner, offering us invaluable resources, mentorship, and unwavering support,” said Nipun Kumar, CEO and Founder of Chekable. “Their guidance has enabled us to refine our technology and fast-track our entry into the market. With NEC X’s extensive ecosystem behind us, we are poised to revolutionize the patent process.”
Chekable joined NEC X’s Elev X! Ignite program in 2023, as part of cohort Batch 10, having been selected from over 140 startup applicants based on the founding team’s experience and growth potential. During the program, NEC X provided not only hands-on support, funding, mentorship and skill-development workshops, but also involved several NEC overseas research labs to test Chekable’s solution, offering valuable feedback and support for product development to ensure a market-ready product.
Elev X! Ignite transforms early-stage innovators and founders into seed-ready startups, offering a distinctive blend of engineering expertise, strategic collaboration, R&D resources, and up to $200K in equity funding to help early-stage startups succeed and grow. During the six- to nine-month program, Chekable worked closely with NEC X’s engineers, innovation team, researchers, industry experts, and mentors to validate their business model, refine their product, and prepare for scalable market entry. During this process, they’ve worked with numerous in-house IP teams and patent law firms to gather the requirements, beta test and workshop their solution for the market.
With the completion of the Elev X! Ignite program, along with funding and continued support, Chekable is poised for rapid and significant growth.
To learn more about Chekable and experience their advanced technology, visit https://chekable.com.
About NEC X
NEC X is an innovation powerhouse and curator of disruptive startups backed by the global technology leadership of NEC. Leveraging 125 years of IT and network technologies expertise, NEC X’s startup-focused approach transforms visionary ideas into commercial successes that revolutionize how we work and live. Since its inception in 2018, NEC X has helped launch and grow more than 100 startups.
Their Silicon Valley programs – Elev X! Ignite and Elev X! Boost – equip early-stage startup founders with the tools to fast-track their tech development and adoption. Elev X fuels startup success from inception to launch, connecting innovators with NEC’s 45,000 patents; global network of partners, mentors and advisors; reach into 55+ international markets; and $8 billion R&D ecosystem.
For more information, visit https://nec-x.com and https://www.elev-x.com.
About NEC Corporation
NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential.
For more information, visit NEC at https://www.nec.com.
NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. ©2024 NEC Corporation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240724671018/en/