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Innovaro, Inc. Enters Fourth Phase Projects with Asian Telecom Leader

Dépèche transmise le 6 septembre 2011 par Business Wire

Innovaro, Inc. Enters Fourth Phase Projects with Asian Telecom Leader

Innovaro, Inc. Enters Fourth Phase Projects with Asian Telecom Leader

TAMPA, Fla.--(BUSINESS WIRE)--Innovaro, Inc. (NYSE Amex: INV), a leading innovation services and IP licensing company, announces that it has reached three new agreements with a major Asian communications company to provide additional consulting services through Strategos, their consulting services division.

Innovaro, under these agreements, will assist the client as they continue the company-wide deployment of innovation tools, skills, structures, and processes. The three new projects focus on identifying and capturing additional new business opportunities, increasing the innovation leadership capabilities of Vice President level executives, and building a “Project Bank” of high-potential R&D projects. These agreements represent the fourth phase of the relationship, which has been ongoing since April of 2010. In this phase, the joint client-Innovaro team will further extend the reach of the project within the employee population of the client. By the end of Phase 4, more than 3,000 employees will have been involved directly in opportunity development workshops and projects, and over 100 employees certified as Innovation Mentors capable of leading teams through portions of the innovation process.

This phase is planned for completion at the conclusion of 2011. The total value of the three agreements is $2 million, and extends the total relationship value to date to over $8 million.

Gary Getz, the Strategos Managing Director leading the effort said, “We are very pleased to have the opportunity to take on this next phase of work. We are at a critical juncture in the program as the client goes beyond thinking of innovation as a project and makes innovation a core element of its identity. This is not a simple undertaking, but is a very exciting one for our client colleagues and every member of the Innovaro team.”

About Innovaro, Inc.

Innovaro, Inc. is a comprehensive end-to-end innovation solution provider. With fully scalable solutions, whether for a global 1000 company or small R&D lab or university scientist, we help our clients create breakthrough innovation, realize latent value in their IP and accelerate their innovations to market. Leading companies trust us to create profitable growth, new revenue streams, enduring capabilities and lasting value through innovation. For more information about us, please visit our website at www.innovaro.com.

Forward-Looking Statements

Certain matters discussed in this press release are “forward-looking statements.” These forward-looking statements can generally be identified as such because the context of the statement will include words such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements and these factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release is available on Innovaro’s website www.innovaro.com.

Business Wire

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