The power of backing exceptional people .

Last week's IPO of Hinge Health marks a significant milestone in a journey that began way back in 2012 with Dan Perez and Marblar, an IP innovation platform. That platform not only brought together global innovators and underutilised patents, but also laid the foundation for what would eventually become Hinge Health.

As the UK’s leading investor in university spinouts, IP Group has the privilege of backing exceptional ideas and great people, and I can say unequivocally that Dan Perez is the most extraordinary founder I have worked with. 

We met Dan whilst he was a PhD student in Oxford, working on brilliant ideas and showing real entrepreneurial spirit and tenacity.

I remember him bouncing into the IP Group office back in 2012 with IP innovation platform Marblar and as an opening line telling me “I’m going to change the world,” followed, quite quickly, by “I’m going to make you rich”.

Not a usual first exchange with a PhD student.

We backed his idea to monetize orphan IP - he pointed out that over 90% of the patent applications filed by universities go nowhere. 

Over a fun first two years, we ran four gamified innovation competitions with leading universities, IKEA, NASA and Samsung all contributing. It was a hell of a ride, and I remember Marblar being featured in the Economist and being asked to come and meet Nobel Laurate Sir Greg Winter to discuss how this might turn the whole IP monetization process on its head.

The reason it didn’t was fascinating. 

What we proved was that great ideas belong to someone, expecting a Marblar user with no connection to the inventor to take on and build a giant business doesn’t work. 

Great companies are powered by the passion and authenticity of their originator.  

So, Dan decided to take his own idea – inspired by some of the IP that Marblar was looking at – forward.

The idea to digitise MSK rehabilitation techniques was compelling, bold, and ahead of its time. It wasn’t a university spin out, nor did it have a patent at its core, but we were delighted that Dan and awesome cofounder Gabriel Mecklenburg pursued it with Hinge Health and remain rather pleased with the decision to convert our shareholding in Marblar to the new company.

What makes Dan and Gabe so great? 

Many things, but the characteristic I think UK founders can learn from the most is “hustle”. These guys are constantly on it, constantly thinking about how to make their company better. They are cheeky, relentless and inspiring. Their standards are insane. I remember them pitching to Hermann Hauser, where he kept cancelling his follow-on meetings to keep listening to the pitch, which was detailed, comprehensive and compelling. Finally, they are a lot of fun. In all sincerity, I don’t think I have laughed more with any other founders.

So, thank you Dan, you did it.