Enginuity, an AI platform helping innovators find and commercialise existing inventions, has raised £500,000 in funding from Fuel Ventures, alongside Symvan Capital and angel investors. It uses multi-agent AI to map global intellectual property against live market demand signals, helping innovators, research and development teams, universities and corporates commercialise dormant assets. The investment will accelerate product development, grow engineering and business-development teams, and expand partnerships with companies, universities and innovation ecosystems across the UK, US and Europe.
Each year, organisations spend more than $2.5 trillion on research and development, yet around 95 per cent of patents go unused, representing an estimated $1.58 trillion in unrealised innovation value. It aims to connect existing technologies with industries that need them by making intellectual property easier to find and apply. The platform lets innovators, corporates and research institutions discover existing solutions faster, matching them to live market demand and opening new commercial opportunities.
Enginuity is already working with innovation networks including Cambridge, MIT/Harvard, Oxbridge AI and the Technical University of Munich as an alumni of their Xpreneurs accelerator, alongside pilots with corporates and venture studios such as C10 Labs.
Every major industry faces pressure to innovate faster, yet the majority of the world’s ideas sit unused on the shelf. Enginuity exists to change that. By making IP searchable and commercially relevant, we’re helping innovators save time, unlock value and build on what already exists. This funding enables us to accelerate our go-to-market strategy, expand our partnerships and help more organisations turn dormant IP into active opportunity.
Enginuity is tackling one of the biggest inefficiencies in global innovation, the waste of untapped IP. Richard and the team have built a platform with the potential to transform how ideas are discovered and applied across industries. We’re proud to back founders who combine deep industry understanding with the ambition to redefine how innovation scales, and Enginuity exemplifies that.
