Wellspring Launches New Flintbox Platform to Enable Individualized eCommerce for University Inventions

CHICAGO, May 15, 2019 -- Wellspring, the global leader in technology transfer software, today announced the launch of a powerful new software platform allowing universities to market and license inventions directly from their own school websites.

Since 2010, Wellspring’s Flintbox platform has been the marquee destination for hundreds of universities to commercialize their technologies, including marketing and licensing. A one-stop-shop intellectual property (IP) marketplace connecting basic research with industry practice, Flintbox now has over 27,000 inventions posted to the site and receives over one million pageviews per year.

“We’re proud of how impactful Flintbox has been to commercializing university technologies. Over 45 thousand licenses have been executed on the platform for over $2.5 million in online licensing revenue for universities. Many are free licenses to promote commercialization, and others are worth $10,000’s. And, these numbers don’t include the countless offline deals that have resulted from universities marketing their IP on Flintbox,” said Robert Lowe, Chief Executive Officer of Wellspring.

Nonetheless, universities today still have thousands of pieces of inventions, courses, creative content, and other IP that sit on a shelf never to be licensed. To extend the value of Flintbox more widely, Wellspring has expanded it well beyond a standalone marketplace. With the new Flintbox, universities can now market and commercialize their IP directly on their institution’s website via click-through licenses.

The new Flintbox also seamlessly integrates the platform deeply into the core work processes of both academic institutions and corporations. For universities, Flintbox now streamlines IP commercialization thanks to direct integration with Wellspring’s tech transfer management system for academic institutions. Corporations can now find licensable technologies on universities’ websites as well as on aggregate search platforms including Wellspring’s Scout and the AUTM (Association of University Technology Manager) Innovation Marketplace (AIM).

Designed with input from extensive market research and user testing with both universities and corporations, the new Flintbox gives universities an ecommerce platform designed specifically for their needs, while providing companies with a tool to search and license technologies based on how they do business. The new Flintbox represents another significant step in Wellspring’s continued efforts to support the innovation economy.

About Wellspring
Wellspring is the world's leading provider of innovation management software and solutions for both corporations and universities. We help clients succeed in today's innovation economy by researching technology trends, finding innovation partners, identifying startups, commercializing inventions, and coordinating global R&D and innovation programs. Wellspring works with more than 500 organizations worldwide to support the continued development of the global Knowledge Supply Chain. For more information, please visit wellspring.com.

Hilary Lunkes
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