MAID Systems
MAID Systems has devoted ten years to developing and patenting a comprehensive suite of intellectual property which underpins solutions that allow vessels to be docked and positioned autonomously, increasing safety, and eliminating human error from the process. 80% of all marine accidents involve human error and MAID Systems’ IP is expected to make a major contribution to accident avoidance in the industry.
The company’s IP and methodology also provides the key missing link in enabling end-to-end autonomous shipping.
x10 Partners' Role
x10 Partners has assisted MAID Systems in developing and pivoting its business plan and strategy. The company’s business plan has evolved from commercialising its IP through becoming a systems manufacturer to maximising its enterprise value through the sale or licensing of its Intellectual Property assets.
Post pivot, x10 Partners has assisted in execution through working with the company to identify and appoint a leading global tier-1 IP monetisation law firm to engage with potential interested parties on MAID’s behalf.
x10 partners have also assisted the company in rationalising its cash burn and raising funding.
Journey Timeline
During the decade prior to 2020, MAID conducted an extensive R&D program for Autonomous Docking & Positioning of Marine Vessels followed by prototype development and field testing of Autonomous Docking and algorithms.
MAID then successfully demonstrated its proof-of-concept system in a series of trials conducted in Baltimore USA using a 92-foot vessel.
MAID continues expansion of its IP portfolio through filing and subsequent awarding of 23 patents
x10 Partners commences working with MAID Systems and conducts a review of its business plan to become a manufacturer and provider of autonomous docking systems to the global marine industry.
x10 Partners mandated by MAID Systems to assist in the creation and maximisation of enterprise value. MAID business plan focuses on licensing and or selling its Intellectual Property asset portfolio which totals 18 granted patents including United States, Australia, Taiwan, Hong Kong, Europe, Singapore, Netherlands, Germany, France, UK, Italy, Turkey, Panama and Japan.
MAID conducts capital raising which was oversubscribed.
FISH and Richardson, one of the world’s largest and most respected IP assertion and monetisation firms, agrees to represent MAID Systems on a 100% contingency fee basis.
MAID Systems’ patent portfolio expands to 29 granted patents covering United States, Australia, Taiwan, Hong Kong, Europe, Singapore, Netherlands, Germany, France, UK, Italy, Turkey, Panama, Japan, Korea, China and UAE.
MAID conducts successful capital raising.
Marine Industry manufacturers and associated participants ‘put on notice’ by F&R advising them of Maid’s Patent Portfolio and potential infringement
MAID Systems’ patent portfolio expands to 44 granted patents covering United States, Australia, Taiwan, Hong Kong, Europe, Singapore, Netherlands, Germany, France, UK, Italy, Turkey, Panama, Japan, Korea, China and UAE.
Marine industry autonomy ramps up with formation of collaborations, JVs and partnerships between shipbuilders, navigations systems manufacturers and technology companies.
MAID Systems’ patent portfolio expands to 44 granted patents covering United States, Australia, Taiwan, Hong Kong, Europe, Singapore, Netherlands, Germany, France, UK, Italy, Turkey, Panama, Japan, Korea, China and UAE.
Maid terminates F&R in August and commences identification of intermediaries to open doors to a wide variety of potential acquirers of the IP Portfolio.
Dialogue initiated with potential acquirers in:
Japan, Abu Dhabi, Singapore, China, Korea, Finland, Taiwan, USAMarine industry is increasingly favouring vision-based autonomous docking methodologies that is GPS independent. This trend has resulted in strong competitive market alignment with MAID technology.
Marine Industry is expected to adopt a non-mandatory MASS Code developed by International Maritime Organisation (IMO) for how Maritime Autonomous Surface Ships (MASS) are to be regulated.
MAID conducts successful capital raising
MAID Systems’ patent portfolio expands to 46 granted patents covering United States, Australia, Taiwan, Hong Kong, Europe, Singapore, Netherlands, Germany, France, UK, Italy, Turkey, Panama, Japan, Korea, China and UAE.
Maid engages with third party intermediaries, including brokers, advisors, consultants, lawyers and attorneys
Intermediaries open doors to: multi-national conglomerates, shipbuilding corporations, marine navigation and control systems manufacturers, instrument and sensor manufacturers, naval and defence organisations, merchant marine cargo freighters, tanker transport and freight companies, commercial fishing fleet and ferry operators, cruise ship operators, recreational boat and super yacht manufacturers, sovereign wealth fund, patent brokers, merchant banks and intellectual property investment companies