Wellspring Worldwide

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

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 built its headquarters in Chicago.[5] As of 2024, the company enlisted its global headquarters 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. It was followed by the 2008 release of Sophia Knowledge Management System and Technology Gateway, that 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

  • 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

  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.