Wellspring provides innovative organizations the software infrastructure necessary to benefit from and exploit the many knowledge assets developed throughout R&D projects. Sophia is specifically designed to manage a company’s Knowledge Supply Chain, illuminating valuable assets, duplicate efforts, and key relationships throughout and after projects.
Unlike other Open Innovation platforms, Wellspring’s Sophia software enables organizations to innovate faster by accessing knowledge quickly and optimizing investments in research and innovation, all by managing and harnessing the organization’s Knowledge Supply Chain. By managing the Knowledge Supply Chain, an organization’s network of connections and knowledge assets, companies, universities, and hospitals optimize their research programs to effectively spur new innovations. In addition to the Sophia platform, Wellspring also acquired Flintbox in 2010, an intellectual property exchange originally founded by the University of British Columbi
The Chicago-based Open Innovation software company was founded in 2003 as a spin-out of Carnegie Mellon University, initially providing technology transfer software solutions to universities and hospitals. Wellspring’s Sophia software platform is now used in universities across the world, in hospitals such as University Hospitals/Case Medical Center and Children’s Hospital of Los Angeles, and by corporations such as Johnson & Johnson Consumer Products, as well as within government departments including the US Department of Veterans Affairs. Wellspring recently closed $5 million in capital from MK Capital, with plans to strengthen its existing products and provide new technologies in Open Innovation for all sectors of R&D.