The mining industry is moving into a new age of innovation. Several key applications of the sector — mineral exploration, quality control, environmental monitoring, and mine safety — are being transformed by technologies like virtual reality, artificial intelligence, and robotics. As the mining sector continues to push forward, a Gibsons-based tech startup is using visible and infrared sensors to give the industry’s biggest players a fresh look at their rocks.
Founded and led by geologists, Hyperspectral Intelligence Inc. (HII) offers innovative tools that improve the efficiency, accuracy, and sustainability of the mining industry. Their core products — the geoLOGr and the Hyperspectral Handheld Scanner (HHS) — are versatile rock scanning instruments that collect detailed hyperspectral data from drill cores, RC chips, blast samples, and mill samples. The startup then rapidly processes this data to provide customers with accurate and valuable information that helps the mineral exploration and mining companies identify different rock compositions, saving them time and money.
In recognition of its existing global footprint and contribution to the natural resources sector, HII received the 2023 British Columbia Export Award in the Natural Resources category, following the prior year’s recipient, Minesense. As an established player in the mining industry with customers and partners all across the globe, HII knew they needed support to structure their IP portfolio and safeguard their innovations.
“As a company at the forefront of hardware and software solutions for the mineral exploration and mining industry, protecting our unique technologies became imperative to fend off competition and establish a strong market presence,” noted Hyperspectral’s CEO, Dr. Michelle Tappert.
We sat down with Michelle to discuss her company’s time in the AccelerateIP Program and how they’re using what they picked up to make themselves more attractive to potential investors.
Tell us about your experience going through the AccelerateIP Program.
Participating in the AccelerateIP Program was critical for enhancing our understanding and utilization of various IP strategies. The program equipped us with the tools we need to protect our innovations effectively. As an outcome of the program, we were able to dedicate substantial time to understanding the intricacies of patent applications, and ensuring that our innovations are well-protected under intellectual property laws. We were able to work with a forward-thinking law firm that was immensely helpful..
What led you to apply for the program?
The decision to apply for the AccelerateIP Program stemmed from the recognition of the critical role that intellectual property plays in safeguarding and capitalizing on our technological innovations. As a company in a critical growth phase, protecting our unique technologies became imperative. Moreover, the need for a structured approach to handle our growing portfolio of patents and trademarks was clear. The AccelerateIP Program offered the expertise, mentorship, and strategic insights necessary to navigate the complex landscape of IP law, which directly aligned with our objectives to secure and enhance our technological assets.
There are several benefits to owning IP, including gaining competitive advantages, adding new revenue streams, and enhancing your company’s reputation. What’s been the biggest benefit for your startup
The biggest benefit for our startup in owning IP has been the ability to secure a competitive advantage in the highly specialized field of automation and sensor-based technologies. Holding patents and trademarks not only protects our innovations from being replicated by competitors, but also significantly boosts our credibility and attractiveness to investors and partners.
This ownership of IP has facilitated exclusive market access and enables us to command premium pricing for our distinctive solutions. Ultimately, our IP serves as both a defensive mechanism and a business asset, propelling our growth and positioning us as leaders in the industry.
What advice do you have for founders who are going through the program?
For founders embarking on the AccelerateIP Program, my advice is to fully engage with every aspect of the program and actively apply the learnings to your business. First, prioritize understanding the scope and protection that different types of IP can offer your innovations. This knowledge is crucial for making informed decisions about which elements of your technology need patent protection or trademarking.
What’s next for your company?
Our next steps involve several strategic initiatives aimed at sustaining growth and solidifying our position in the market. Firstly, we plan to continue innovating, leveraging our IP to develop new products and enhancements that meet the evolving needs of the mineral exploration and mining industry. This includes expanding our R&D efforts and possibly exploring new applications of our technology in related fields.
Secondly, we aim to expand our market presence globally, entering new geographical markets where our technology can make a significant impact. This will involve tailored marketing strategies and possibly local partnerships for better market penetration.
Additionally, we’ll focus on securing additional funding to support these expansion plans. This may come from venture capital, strategic investments, or even public funding sources that recognize the value of our technology in the sector.
Finally, we will continue to strengthen our IP portfolio, ensuring robust protection and strategic management of our intellectual property. This will not only safeguard our existing products but also enhance the company’s valuation in the eyes of investors and potential partners.
By pursuing these initiatives, we aim to ensure the company remains at the forefront of technology in our industry, driving both growth and innovation.
