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Wellspring Worldwide

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From Wikipedia, the free encyclopedia
Wellspring
IndustryKnowledge and technology transfer
Founded2003
HeadquartersArvada, Colorado[1]
Key people
Sean Downs (CEO), Mike MacKeen (CFO)[2]
WebsiteWellspring.com

Wellspring, founded as Wellspring Worldwide in 2003 by husband and wife team Robert and Sandi Lowe, is a provider of web-based software systems for managing the research and technology commercialization of universities, companies, government agencies, and independent labs.[3]

History

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Wellspring was founded in 2003, spinning out of Pittsburgh-based Carnegie Mellon University and initially providing software systems, consulting services and training programs for university technology transfer offices in North America and Europe.[4] Wellspring had European operations in Lisbon, Portugal from 2006-2008 and in Cambridge, United Kingdom from 2008-2011.

By 2020 Wellspring was headquartered in Chicago.[5] As of 2024 the company lists its global headquarters as in Arvada, Colorado.[1]

In 2007, Wellspring launched a services program in partnership with Carnegie Mellon University to help incubate university-based start-up companies following it up with the 2008 launch of the Sophia Knowledge Management System and a Technology Gateway to allow universities to market research projects and intellectual property available for licensing.

In January 2010, Wellspring acquired Flintbox, a company founded in 2003 at the University of British Columbia to provide a location for universities to post available research projects and intellectual property. Flintbox also provided the technology behind Kauffman's iBridge Network.[6] This acquisition was followed in 2011 by the acquisition of online intellectual property marketing site FolioDirect.[7]

In 2023 Wellspring acquired IG Pragmatics, a London-based intellectual property and technology transfer consulting firm.[8] IG Pragmatics, founded in 2001, continues as Wellspring (IP Pragmatics Ltd),[9]

In July 2022, the private equity firm Resurgens Technology Partners announced a major investment in Wellspring.[10] In June 2023, Wellspring underwent a corporate management shakeup, naming new Chief Executive and Chief Financial Officers. Founding member and removed CEO Rob Lowe retained a board seat. [2]

Over its history Wellspring has secured millions of dollars in US government contracts[11] and has a registered lobbying operation.[12] In 2020 Wellspring Worldwide secured an $889,700 Paycheck Protection Program (PPP) loan from the US Small Business Administration. Its stated purpose was to protect 45 jobs on an estimated annual payroll of $4.27 million.[5]

Products

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Wellspring has two main products, Sophia and Flintbox.

Sophia

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Sophia is a software platform that links together projects, inventions, platforms, publications, patents, copyrights and more according to the requirements of the user.[13]

Flintbox

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Flintbox provides a platform for intellectual property exchange between companies, universities and independent innovators.[14]

Awards and recognition

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  • 2010 – Named 2nd fastest growing technology company in Western Pennsylvania by the Pittsburgh Business Times. (1st among software companies)[15]
  • 2010 – Named One of the Best Places to Work by the Pittsburgh Business Times.[16]

References

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  1. ^ a b "Contact Us". Wellspring. Retrieved 13 October 2024.
  2. ^ a b "Wellspring Announces New CEO and CFO to Drive Next Wave of Growth" (Press release). Wellspring. 5 June 2023. Retrieved 14 October 2024.
  3. ^ "Interview with Wellspring Worldwide CEO, Rob Lowe". WorldBusinessChicago.com. 23 May 2011. Retrieved 2013-04-12.
  4. ^ "About". Wellspring. Retrieved August 2, 2022.
  5. ^ a b "PPP Loan Data — Wellspring Worldwide Inc, Chicago, IL". FederalPay. Retrieved 13 October 2024.
  6. ^ "Wellspring Worldwide acquires Flintbox of Canada, hiring". Pop City Media. 11 November 2009. Archived from the original on 13 December 2009. Retrieved 14 October 2024.
  7. ^ "Pioneering online IP marketing site closes its doors". STC.unm.edu. 22 February 2011. Retrieved 2013-04-12.
  8. ^ "Wellspring Acquires IP Pragmatics for End-to-End Tech Transfer and IP Management Solutions" (Press release). Wellspring. 2 February 2023. Retrieved 14 October 2024.
  9. ^ "Wellspring (IP Pragmatics Ltd)". LinkedIn. Retrieved 14 October 2024.
  10. ^ "Resurgens Makes Platform Investment in Wellspring - A Leader in Innovation and IP Management Software" (Press release). Wellspring. 14 July 2022. Retrieved 14 October 2024.
  11. ^ "Recipient: Wellspring Worldwide". USASpending.gov. Retrieved 13 October 2024.
  12. ^ "Lobbying by Wellspring Worldwide". ProPublica. Archived from the original on 8 May 2023. Retrieved 14 October 2024.
  13. ^ "Wellspring Worldwide Named a Finalist for the 11th Annual Chicago Innovation Awards". BusinessWire.com. 10 September 2012. Retrieved 2013-04-12.
  14. ^ "Wellspring Worldwide to acquire Flintbox". Technologytransfertactics.com. 11 November 2009. Retrieved 2013-04-12.
  15. ^ "Pittsburgh's 100 fastest-growing companies". bizjournals.com. 26 August 2010. Retrieved 2013-04-12.
  16. ^ "61 companies earn Pittsburgh region's best places to work honors". bizjournals.com. 10 August 2010. Retrieved 2013-04-12.
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