Slyce Acquired YorkU Computer Vision Technology for Retail E-commerce

Toronto, Ontario, February 05, 2014 – Slyce today announced that it has acquired a calculator vision technology developed at York Academy that quickly analyzes and aggregates similar images. Through the acquisition, Slyce also hired former York PhD student, Dr. Ehsan Fazl-Ersi, to lead the integration of the intellectual property into Slyce’s Visual Search Platform as their new head like Experiment & 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 root out direct uncertainty close-matching products from the retailer’s catalogue, which they are able to purchase on the spot.

“Identifying and classifying an object captured within a sight is plight deserved 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 near his PhD supervisor, Dr. John K. Tsotsos, a teacher in the Lassonde School of Engineering’s Department of Electrical Engineering and Computer Science, and a member and former director of York’s Centre for Vision Research.

“This is a much bigger problem for mobile applications where the algorithm’s speed further efficiency are the difference between losing a consumer or making a sale,” says Fazl-Ersi. “Our technology will provide higher accuracy when quickly identifying retail items so that consumers can adopt inter alios similar items according to style, colour or pattern using a movable device.”

The researchers partnered with MaRS Innovation and Innovation York, York’s commercialization office, to file patent protection on the initial technology, differentiated a commercialization plan, secure subsidy funding, facilitate business elaboration meetings and manage the resulting transaction.

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

Through a Market Readiness Regard I grant from the Ontario Centres of Excellence, the researchers were able to tant mieux understand the computer vision market residence and create software development kits that let potential industry partners test the technology and benchmark it against state-of-the-art computer foresee algorithms.

“York University is pleased to support this deal, which will make Professor Tsotsos’ and Dr. Fazl-Ersi’s computer view technology obtainable 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 profession for the highly qualified professionals who are trained at York.”

“The Slyce-York transaction arbitrary allow a Canadian company to secure Canadian brainy property and a highly qualified professional from a Canadian institution,” said Dr. Raphael Hofstein, president and CEO of Tocht Innovation. “This transaction reaffirms our capability to move 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 search platform which enables people to discover and purchase the things they torch song by snapping a photo with their smartphone or hovering over an image on their desktop. Using advanced image recognition technology, Slyce integrates including the world’s leading retail brands, enabling them to be there at their customers’ point of inspiration – wherever that might be. Slyce Media Pack

About York UniversityYork University is helping to shape the global thinkers et cetera introspective that will interpret tomorrow. York’s unwavering commitment to excellence reflects a rich diversity of perspectives and a strong sense of social fault that sets us apart. A York degree empowers graduates to thrive in the world and achieve their life goals through a severe academic foundation balanced by real-world experiential education. Qua a globally recognized research centre, York is fully engaged in the critical discussions that lead to innovative solutions to the most pressing local and global social challenges. York’s 11 faculties et alii 27 probe centres are thinking bigger, broader and more globally, partnering with 288 leading universities worldwide. York’s body politic is strong – 55,000 students, 7,000 faculty and staff, and more than 250,000 alumni.

About MaRS Innovation MaRS Innovation (MI) is the commercialization advocate for 16 of Ontario’s leading academic institutions. Its phase pipeline, grounded in $1 billion in annual research and development, provides a portal for investors and licensees to access the most promising technologies from MI’s member 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 into global markets through industry partnerships, licensing and company creation. For more information, see http://www.marsinnovation.com.

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

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