Between 1995 and 2023, global patent applications have more than tripled, rising from around 1 million to 3.55 million, according to the 2024 WIPO Global Patent Applications Report. On the surface, this looks like breakthrough innovation and growth. When you dive deeper, this illusion quickly fades.
The European Patent Office estimates that 90-95% of those filings will never be commercialised by the companies that made them. Among these patents are technologies with the potential to address some of our most urgent challenges, from cleaner energy to more sustainable manufacturing. Rather than driving development, the rising number of patents means that promising innovations are being locked away.
Millions of ideas now sit frozen in filing cabinets while global challenges continue to unfold
SKF, the Swedish engineering group best known for its precision bearings, is challenging traditional attitudes toward intellectual property (IP) in an effort to speed up progress. “Innovation doesn’t happen in isolation, and certainly not within four walls,” says Annika Ölme, CTO at SKF.
The company is calling on others to share their patents more openly, and work together to reduce stagnation and find solutions to some of our biggest problems.
How the patent system lost its purpose
Patents were initially designed to reward ingenuity by sharing knowledge publicly, in exchange for temporary protection. But somewhere along the way, that purpose was lost. Corporations began using patents as a defensive moat to block off rivals rather than a way to spread their ideas.
As a result, millions of ideas now sit frozen in filing cabinets while global challenges continue to unfold outside. This is the very opposite of the collaboration and knowledge-sharing that innovation depends on. “At SKF we believe that collaboration is part of all progress. It is a common denominator for the success we have had as a company from the start,” says Ölme. “It can mean collaboration between us and a customer, a distributor, policy makers, or any other kind of partner – as progress does not spring from isolation.”
In a bold move to prove that openness can drive progress, SKF has launched The Patent Bay. Its goal is to make sustainability-related patents free for others to use and develop, to show how shared knowledge can help tackle modern issues.
How sharing IP could inspire the next generation of manufacturers
While the surge in patent applications might suggest that the manufacturing industry is thriving, the reality on the ground tells a different story. When innovation is locked behind patents and NDAs, it becomes invisible to the engineers who could bring it to life – and to the next generation considering a career in manufacturing.
Compared with peers in other industries, generation Z (gen Z) engineers seem noticeably less inclined to stay in manufacturing: nearly half (48%) of gen Z engineers say they plan to leave the sector within six months, compared with 41% across other industries, according to a 2024 McKinsey report.
As a result of this talent crisis, research by EY and The Manufacturing Institute warned that 2.1 million manufacturing jobs could go unfilled by 2030. This will further slow production and innovation, which will make it much harder for companies to meet growing demand and adopt new technologies.
There are many factors driving the talent shortage in manufacturing. Older workers are retiring faster than new talent enters, leaving a widening skills gap. Many younger workers still associate manufacturing with outdated, ‘dirty’ or repetitive work, despite its increasing reliance on automation, data science and advanced engineering. “Engineers thrive on solving real-world problems,” says Ölme. Yet, without a culture that showcases innovation in action, it can be difficult to engage the people who could turn ideas into real-world solutions.
At SKF, the approach is different. Ölme says, “We foster psychological safety, purpose-driven work and a culture where collaboration is valued. We believe openness will energise innovators to tackle global challenges together.” Through creating an environment where engineers can see the impact of their work and collaborate openly, SKF aims to attract and retain talent that might otherwise look elsewhere.
Why sharing is a better strategy than hoarding ideas
The idea of open patents still raises eyebrows in boardrooms. It’s understandable to assume that sharing IP means giving away a competitive edge, but that isn’t always true.
When innovation is locked behind patents and NDAs, it becomes invisible to the engineers who could bring it to life
“When we open up and collaborate, we build ecosystems where knowledge flows freely, reducing time-to-market and unlocking breakthrough solutions that matter,” says Ölme. She explains that for SKF, open collaboration means working side by side with customers to understand their toughest challenges and co-develop technologies that help them meet both sustainability and performance goals. “It’s a partnership that drives competitive advantage for everyone involved,” she says.
History shows that sharing knowledge in moments of crisis can accelerate progress far beyond what any one organisation could achieve alone. Consider the open collaboration behind the Human Genome Project that mapped the entire human genome. Its publicly accessible blueprint has significantly accelerated medical research, and enabled precision medicine. More recently, the sharing of vaccine technology during the Covid-19 pandemic led to the fastest vaccine rollout in history.
These examples show the power of collaboration in driving real-world impact, a principle SKF embraces. Building on this ethos, the organisation has built strong partnerships with universities and research institutions, which has provided access to cutting-edge ideas and talent.
In October, SKF announced the launch of SKF Ventures, which aims to identify and develop new opportunities as changing customer needs and sustainability initiatives push companies to grow and change. Partnering with startups and external innovators means it will bring fresh perspectives and capabilities into SKF’s ecosystem.
“Through SKF Ventures, we work closely with start-ups and established companies to co-create solutions that push the boundaries of technology,” says Ölme. “Now, with The Patent Bay, we’re sharing selected patents to ensure that knowledge flows freely and breakthroughs happen faster. It’s all part of our commitment to accelerate sustainability across industries and build a better tomorrow.”
Through combining open collaboration with targeted innovation, SKF is setting a blueprint for how the industry can work together to solve humanity’s most urgent issues.
The Patent Bay has already released its first patent
The first patent released on The Patent Bay is a high-performance bearing alloy created for use in aviation. “The first technology shared is Arctic 15, a steel alloy that has been in development for many years and represents a major investment. It enables the production of lighter, more energy-efficient components for aviation and mobility, with the potential to reduce industrial emissions by up to 25%. The same technology can also be adapted for electric vehicles, energy systems, and manufacturing processes,” says Ölme.
“This new bearing material can handle higher loads in a more compact form, enabling high-performance bearing solutions for new architectures of engines designed to reduce emissions by up to 25%. The same technology opens the door to further innovation, where efficiency and sustainability are key,” Arnaud Ruellan, technology innovation manager at SKF, explained in a recent press release.
The technology is potentially usable in other demanding industries and applications. Now the field is open for other tech-leading companies to come up with innovative ideas on how to leverage the use of Arctic 15 in their specific engineering fields. This is just one example of how shared technology can have practical benefits across sectors.
“We have seen the trend and decided to act. At SKF, we had the right ingredients – smart people, bold vision, and a great idea to turn this challenge into an opportunity for shared progress,” adds Ölme.
Q&A with Annika Ölme, CTO at SKF
As SKF challenges long-held assumptions about intellectual property, its message is clear: collaboration is the new competitive edge. The Patent Bay marks not just a shift in how patents are used, but in how innovation itself is defined.
Here, Ölme outlines the key lessons behind The Patent Bay: how openness fuels progress, what success really looks like for shared innovation and the role of collaboration in solving global challenges.
Throughout history there have been great examples of when collaborative efforts or acts of sharing have been conducted by other companies. That is part of the inspiration behind this. We wanted to take it one step further and create a platform for it, for us and for others. Whenever something is shared on The Patent Bay, it will be a win for everyone. And it will always act like a signal to others of how we need to behave to move forward together.
For us, success with The Patent Bay is all about creating ripple effects – accelerating sustainability, inspiring others to share, and driving real innovation. We want to see the industry move from protectionism to partnership because history shows breakthroughs happening when knowledge is shared.
Our hope is that other companies join us, contribute their own ideas, and help build a culture of openness. At the end of the day, collaboration is the engine that moves the world forward. If The Patent Bay sparks even small steps toward that, we’ll consider it a win.
It would be great if future rules could reward collaboration and societal impact and fight protectionism. The Patent Bay is a small step toward this change, and we want this initiative to grow by inviting more companies to join and create a better tomorrow for people and the planet.
For more information please visit skf.com/group/
Between 1995 and 2023, global patent applications have more than tripled, rising from around 1 million to 3.55 million, according to the 2024 WIPO Global Patent Applications Report. On the surface, this looks like breakthrough innovation and growth. When you dive deeper, this illusion quickly fades.
The European Patent Office estimates that 90-95% of those filings will never be commercialised by the companies that made them. Among these patents are technologies with the potential to address some of our most urgent challenges, from cleaner energy to more sustainable manufacturing. Rather than driving development, the rising number of patents means that promising innovations are being locked away.
Millions of ideas now sit frozen in filing cabinets while global challenges continue to unfold
