Slyce Acquired YorkU Computer Vision Technology for Retail E-commerce

Slyce Acquired YorkU Computer Vision Technology for Retail E-commerce

Toronto, Ontario, February 05, 2014 – Slyce today announced that it has acquired a computer vision technology developed at York University that quickly analyzes and aggregates similar images. Through the acquisition, Slyce also hired former York PhD student, Dr. Ehsan Fazl-Ersi, to lead the desegregation of the intellectual property into Slyce’s Visual Search Platform as their new head of Inquiry & Development.

Slyce is a premium provider of visual search technology for retailers, brands and publishers. Their platform allows customers to take a picture of real-world products with their smartphone and then find direct or close-matching products from the retailer’s catalogue, which they are smart to purchase on the spot.

“Identifying and classifying an object captured within a scene is trying due to the effects of background clutter, lighting variations and viewpoint changes on the object’s appearance,” says Fazl-Ersi, who designed and developed the technology with his PhD supervisor, Dr. John K. Tsotsos, a professor in the Lassonde School from Engineering’s Department like Electrical Engineering and Computer Science, and a member and old director of York’s Centre for Vision Research.

“This is a much bigger problem for portable applications where the algorithm’s speed and efficiency are the difference between losing a consumer or making a sale,” says Fazl-Ersi. “Our technology will provide higher accurateness when quickly identifying retail items so that consumers can choose among resemblance items autos to style, colour or pattern using a fluid device.”

The researchers partnered with MaRS Vernieuwing and Innovation York, York’s commercialization office, to file patent protection on the initial technology, develop a commercialization plan, secure grant funding, facilitate business development meetings and negotiate the resulting transaction.

“Slyce is electrify to range this deal with York University and MaRS Innovation moreover add another piece about unique technology to our platform,” said Adam Jarczyn, Slyce’s chief product officer. “Visual search is experiencing explosive growth and has become a compelling way for retailers to engage their customers. York’s technology provides us for another competitive edge in ensuring a high-quality consumer shopping experience.”

Through a Vend Readiness Phase I transfer from the Ontario Centres concerning Excellence, the researchers were fit to better empathy the machine vision market place polysyndeton create software development kits that let potential industry eegas test the technology and benchmark it against state-of-the-art computer vision algorithms.

“York University is pleased to support this deal, which will make Professor Tsotsos’ and Dr. Fazl-Ersi’s brain vision technology available to customers all over the world,” said Dr. Robert Haché, York’s vice-president Research & Innovation. “The deal demonstrates Innovation York’s ability to assist our researchers in commercializing their intellectual property and securing employment for the highly qualified professionals who are trained at York.”

“The Slyce-York transaction want allow a Canadian company to invulnerable Canadian intellectual property and a highly qualified master from a Canadian institution,” said Dr. Raphael Hofstein, president and CEO of MaRS Innovation. “This transaction reaffirms our capability to arouse technology from the lab to the market so that it benefits our members and their researchers in several ways. We look forward to making rare transactions like this one more commonplace.”

About SlyceSlyce is a visual product inquisitorial platform which enables people to confess and purchase the things they love by snapping a photo with their smartphone or hovering over an image on their desktop. Using advanced image recognition technology, Slyce integrates with the world’s first retail brands, enabling them to be there at their customers’ point of inspiration – wherever that might be. Slyce Media Kit

About York UniversityYork University is cooperative to shape the global thinkers and thinking that want define tomorrow. York’s unwavering commitment to excellence reflects a rich multiformity regarding perspectives besides a strong sense of social responsibility that sets us apart. A York degree empowers graduates to thrive in the world besides achieve their life goals through a rigorous academic foundation balanced by real-world experiential education. While a globally recognized research centre, York is fully engaged in the critical discussions that lead to ingenious solutions to the most pressing local connective intercontinental social challenges. York’s 11 faculties including 27 research centres are thinking bigger, broader furthermore more globally, partnering with 288 leading universities worldwide. York’s population is strong – 55,000 students, 7,000 faculty and staff, and more than 250,000 alumni.

About MaRS Innovation Expeditie Innovation (MI) is the commercialization agent for 16 regarding Ontario’s leading didactic institutions. Its development pipeline, grounded in $1 billion in annual research and development, provides a gateway for investors and licensees to access the most promising technologies from MI’s portion institutions. Supported by the Government of Canada through the Networks of Centres of Excellence, by the Government of Ontario through the Ontario Centres of Excellence, and by its 16 members, MI advances its portfolio assets interested global markets through industry partnerships, licensing and company creation. For more information, espy http://www.marsinnovation.com.

Media Contact For further information and interviews please contact: Jape Stanbury | josh[at]slyce.it | 403-781-6671

Press Contact:
Josh Stanbury
Slyce
Toronto, Ontario
+1 403-781-6671
http://www.slyce.it/