Wellspring Worldwide

Last updated
Wellspring
IndustryKnowledge and technology transfer
Founded2003
Headquarters Arvada, Colorado [1]
Key people
Sean Downs (CEO), Mike MacKeen (CFO) [2]
Website Wellspring.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]

Contents

History

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

Wellspring has two main products, Sophia and Flintbox.

Sophia

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

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

Awards and recognition

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References

  1. 1 2 "Contact Us". Wellspring. Retrieved 13 October 2024.
  2. 1 2 "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. 1 2 "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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