Navigating innovation in the competitive tech industry usually means you need to step off the beaten path in order to stand out.
When Swidget, an Ottawa based creator of modular smart home devices, was designing their ambitious growth strategy, they knew that they needed to think beyond conventional methods to solidify their position in the market.
Recognizing the need for expert guidance, they engaged with Stratford Group, a leader in intellectual property (IP) strategy and business growth, to help them build a roadmap and chart a new strategic course that addressed the challenge of protecting their innovations and optimizing their market strategy in a competitive landscape.
What initially drew Swidget to engage with Stratford was Stratford’s reputation as IP strategy experts with in-depth knowledge on how to leverage innovation programs, like IRAP and ElevateIP, IP Ontario and Innovation Asset Collective, that help companies access funding and secure IP strategy and implementation services.
“We were aware of Stratford in the IP space and that they could help us both in terms of delivering a strategic roadmap and applying for funding. Their reputation gave us confidence in their expertise and made them an ideal partner for this project”, says Cam Wilson, CEO of Swidget.
Expertise meets execution
Swidget collaborated closely with a dedicated team from Stratford, including registered patent and trademark agents.
Led by vice president Myriam Davidson, they leveraged their expertise in IP strategy, IP analytics, and layering IP rights. The engagement began with a deep dive into the IP landscape, forming a solid, data-driven foundation that, when coupled with Stratford’s IP Strategy Review, was instrumental in understanding Swidget’s technological innovations and market goals. This comprehensive analysis was crucial in identifying the unique intellectual property challenges Swidget faced.
From there, Stratford crafted a tailored IP strategy that not only aligned with Swidget’s business objectives but also identified gaps and areas for competitive advantage – something that provided tremendous value given the crowded and competitive nature of Swidget’s market.
This strategy provided Swidget with significant value by enhancing their market positioning and helping them navigate complex IP challenges effectively. Building on this tailored strategy, the partnership focused on developing robust IP assets and managing third-party risks, ensuring that Swidget’s innovations were not only protected but also positioned to drive sustainable business growth.
“How we approach IP strategy is a blend of deep industry insights with proactive planning to maximize business value for our clients,” says Myriam. “Our goal with projects like this is to design a bespoke IP strategy that not only aligns with the overall business strategy but also is pragmatically implementable.
This ensures that the IP strategy is not just theoretical but a core driver of operational success.”
From provider to partner: Charting the path of collaboration and success
Stratford’s role evolved from a service provider to a trusted partner in innovation.
A partnership that yielded significant benefits, including a fortified market position and enhanced IP rights and management. Stratford’s focus on value creation led to the expert drafting of patents and trademarks, which enhanced Swidget’s ability to protect its innovations and strengthen its market position.
This proactive approach, coupled with a clear, actionable roadmap, positioned Swidget for sustained business growth and market distinction. The result was not just meeting but surpassing strategic goals, laying a solid groundwork for ongoing innovation and leadership in the market.
“The value that Stratford has added through their comprehensive IP services is immeasurable. Their strategic insight, combined with their practical support in securing funding and managing our IP needs, has positioned us for success now and in the future,” says Wilson.
The collaboration has fostered executive accountability, ensuring the IP strategy is actively championed and implemented within Swidget.
“This collaboration is a testament to how tailored intellectual property strategies, combined with the right partnership, can position an SME for business success business success,” concludes Davidson.
For companies looking to enhance their IP capabilities, Stratford offers both proactive strategy and practical execution, proving to be an indispensable partner in navigating the complex IP landscape.
