Alchemy, founded in 2013 by a group of University of Waterloo graduates, specializes in nanotechnology solutions for automotive and defense applications. Originally focused on developing windshield protection films under the ExoShield brand, the company has since expanded into defense technology, securing significant contracts with the Canadian Department of National Defence.

We spoke with Amogha Ravindra, Director at Alchemy, to learn about the company's journey with ElevateIP and how it has supported their growth.

Why IP Was Important to Alchemy 

From the early days, Alchemy recognized the importance of intellectual property (IP), but it wasn’t initially a top priority. Their approach shifted when they saw an increase in competition in the automotive sector and secured their first defense contract in 2020. 

With government-backed projects, the need to protect proprietary technology became critical. By 2022, Alchemy was fully committed to integrating IP protection into their business strategy, ensuring that their innovations were safeguarded for long-term value.

“Once we got the second defense contract in 2022, we realized we had to start protecting every single thing in defense, because that's going to be the retained value in the future,” said Ravindra.

How Alchemy Used ElevateIP

Alchemy was already engaged in the Canadian IP grant ecosystem before discovering ElevateIP. They had previously worked with the Innovation Asset Collective (IAC) and other IP service providers. However, ElevateIP stood out for its structured approach and seamless process, requiring no upfront financial investment from Alchemy—a major advantage for a growing startup managing cash flow.

With ElevateIP, Alchemy focused on conducting an IP landscape analysis and refining their IP strategy. This helped them:

• Identify key competitors and adjacent technologies in the space.

• Understand geographical distribution of IP filings to prioritize patent jurisdictions.

• Develop a clearer roadmap for future IP protection.

“The biggest benefit was that there was no upfront cost for us. The money went directly from Elevate to our IP firm, which was great for cash flow and the size of our business,” Ravindra explained.

How ElevateIP Helped Alchemy Scale

The insights gained from the IP landscape analysis have been instrumental in shaping Alchemy's next steps. The analysis provided valuable intelligence on emerging competitors, potential technology overlaps, and key markets for patent protection. This information has been crucial in:

• Refining their defense technology strategy.

• Enhancing their approach to IP filings in key global markets.

• Ensuring their innovations remain competitive and protected.

“It forces you to evaluate priorities and understand where to put more time and resources. The way ElevateIP structured their analysis helped us see potential overlaps and areas to monitor in our industry,” Ravindra noted.

Another major advantage of ElevateIP was its ability to remove financial barriers for small startups. Many early-stage companies face the difficult decision of whether to invest in IP protection or direct those funds toward product development and scaling operations. By eliminating upfront costs, ElevateIP made it possible for Alchemy to pursue an IP strategy without compromising their ability to innovate and grow.

“For startups, every dollar counts. Without ElevateIP, we might have had to choose between protecting our innovations or investing in product improvements. This program allowed us to do both, which is a huge advantage when you're still building capital,” said Ravindra.

While Alchemy has since realized the need for specialized defense IP expertise, ElevateIP provided a solid foundation that allowed them to make informed decisions and allocate resources effectively.

ElevateIP: A “No Brainer” for Startups

Amogha strongly recommends ElevateIP for startups and small businesses that recognize the importance of IP but may not know where to start. He highlights the program’s benefits for companies in early innovation stages or those exploring new business verticals. The structured, accessible, and cost-effective nature of ElevateIP makes it an invaluable resource for Canadian startups looking to establish a strong IP foundation without immediate financial strain.

“ElevateIP is a no-brainer if you're a small company that knows IP is important but doesn’t know what to do about it,” said Ravindra. “It's a great starting point, whether you're early in the innovation process or exploring a new business unit.”

Alchemy plans to continue leveraging ElevateIP as they expand their automotive and defense innovations, further cementing their competitive edge in both industries.