The 2014 Eureka Index, exclusively published in the March 30th-April 5th issue of Crain’s Chicago Business and driven by Ocean Tomo data, was published.
The Eureka index, which recognizes patent quality among Illinois companies and institutions with three of more issued patents in 2013, was performed using the Ocean Tomo Ratings™ system. The system gives each issued patent an OTR™ score, which is an objective and statistically valid assessment of the quality of individual patents, and collectively patent portfolios.
Midtronics, Inc is this year’s top company with an average OTR score of 178. Cummins-Allison (2) and Gogo (3) join Midtronics (1) as the top three Illinois companies for patent quality. Each has an average OTR™ Score of 158 or higher, placing their patents among the top 5% of all US rated patents.
We also released an expanded study that identifies the average OTR score and number of patents within the top three United States Patent Classes for each of the top 20 companies. The number two company, Cummins-Allison Corporation has 23 patents in USPC 382 (Image Analysis) with an average OTR score of 188.4 making USPC 382 the highest rated class among the Eureka Index companies. You can view and request this study here.
We believe the Patent Quality Study conducted for Crains highlights the level and focus of innovation happening in Illinois. New Ocean Tomo Managing Director Dr. Darius Sankey commented on the index, “If you look at the innovation on this list, we’ve got the latest in new technology, and it’s all happening here in the Midwest.”
Dr. Sankey leads our Innovation Management business unit which includes the Venture Development practice, providing operating company clients an outsourced venture capital service platform to accelerate innovation while managing risk. “We’ve got an impressive mix. It’s not as concentrated in one or two industries like Silicon Valley or Boston. But that’s Chicago’s strength—it’s so diversified,” said Dr. Sankey.
You can also view and request a ranking of all 110 companies by city here.