Retyre AS was established in Trondheim in 2015, and today has offices in Trondheim and Oslo and a team of 9. They supply modular tire systems for bicycles, wheelchairs and prams, and have been in the market for 4 years. Their modular tire system is patented and allows the user to easily attach different surfaces to their tires, and in that way adapt the tire to the needs of use.
Corrects
The company has registered the name reTyre as a trademark. The product is protected by several international patents and trademark registrations.
Retyre has developed the product itself and made prototypes, technical drawings and illustrations available to its patent attorneys. They have been responsible for the processes linked to the design of patents and patent claims, practical implementation of national and international patenting and ongoing follow-up of these. They have also contributed with strategic decisions related to patenting and the enforcement of rights.
So far, Retyre has not experienced that their products have been copied. They believe that competitors have refrained from copying because the company has clearly communicated that the products are patented.
— Registered patents are, in the same way as public benefit schemes, an important element for investors. The fact that we have strong patent protection gives our investment case extra weight and makes it more likely that our competitive advantage will be sustained. It also gives the company clearer exit options, says CEO Paul Magne Amundsen.
Retyre also sees licensing on the basis of the rights as an important strategy for the future.
– Retyre has chosen to invest in patent and trademark protection on the basis of the product's unique design and functionality. Patent protection provides greater security and predictability linked to products that can be easily copied, and reduced risk linked to scaling the company and investments in production capacity. Patent protection also increases commercial opportunities linked to future licensing and partnerships.
Paul Magne Amundsen
Support schemes
Retyre has received significant funding from various national and international public programmes. This includes Innovation Norway, the Research Council and the European Commission (EASME). The company has also received funds via private support schemes, as well as completed two investment rounds. This has enabled the company to invest in production capacity and protection of IPR.
The focus for public funding has shifted from technology to commercialization potential, but the level of innovation is still important. It can be difficult to assess the level of innovation of a product or service in relation to competitors without having in-depth knowledge of both the market, the industry and the technology. Patent protection is therefore important to show that the project is sufficiently unique and innovative and has a sustained competitive advantage. It is important that the allowance is not distorting competition.
