Henry Chesbrough to Join the Board of UTEK Corporation
December 17 2009 - 11:54AM
Business Wire
UTEK Corporation (NYSE Amex: UTK), a leading IP licensing and
innovation services company is pleased to announce that Dr. Henry
Chesbrough is joining the Board of UTEK Corporation.
Dr. Henry Chesbrough is the pioneering thought leader of the
global open innovation movement. Dr. Chesbrough currently serves as
Adjunct Professor and Executive Director of the Center for Open
Innovation at the Haas School of Business at the University of
California, Berkeley. His groundbreaking book Open Innovation: The
New Imperative for Creating and Profiting from Technology (Harvard
Business School Press), brought the term “open innovation” into the
language of global business and propelled firms to accelerate their
core business growth by dramatically increasing the percent of IP
licensed and acquired from outside their organizations.
This week, the UTEK Board approved and Dr. Chesbrough accepted
this appointment with his term commencing February 1, 2010.
Previously acting as a strategic advisor to UTEK, this appointment
is a significant endorsement of UTEK’s new leadership and strategic
direction, bringing an innovation technology platform and services
capability under one umbrella to create unprecedented breadth and
depth in the industry.
“The open innovation market is rapidly expanding, and UTEK is
well positioned to be a leader in the innovation strategy and
services industry. The company has a unique capability to offer an
end to end innovation solution, starting with its strategic and
custom services, as well as their knowledge and relationships. This
set of offerings enables them to help their clients navigate the
entire value chain for accelerated innovation,” states Dr. Henry
Chesbrough. “I like the direction UTEK is going and am proud to
serve them in this capacity.”
“Dr. Chesbrough is a welcome and significant addition to our
Board. We are pleased to be the only company in which Dr.
Chesbrough serves on the Board of Directors. We share the
philosophy that conventional methods of new product and service
innovation need to change UTEK is well positioned to drive this
global transformation,” says Doug Schaedler, Chief Executive
Officer of UTEK Corporation. “We help our clients capture value
from all of their IP and assets, improving their capabilities and
helping them to outperform their industry. Dr. Chesbrough’s newly
expanded relationship with UTEK will further bolster that
mission.”
About UTEK Corporation
UTEK® is a leading global IP licensing and innovation services
company. UTEK’s services enable its clients to enhance their
innovation capabilities, rapidly source externally developed
technologies, create value from their intellectual property and
gain foresight into marketplace and technology developments that
could affect their business. For more information about UTEK,
please visit its website at www.utekcorp.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 UTEK “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 UTEK’s website www.utekcorp.com.
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