Greater China

Aug 26, 2005

Innocentive boosts virtual scientific network

BEIJING & MOSCOW - InnoCentive today announced that it has expanded its relationships with leading scientific universities across China and Russia by signing partnerships with the College of Chemistry at Huazhong Normal University, Xiamen University and Zhejiang University in China, Tomsk State University, Tula State University, Arkangelsk State University, and Far East State University in Russia.

With today's agreements, InnoCentive now has partnerships with twenty-nine leading research-based universities located throughout Russia, and fourteen in China. These newest research-based universities add to the pool of global scientific minds available online to offer cost-effective, cutting-edge solutions for

the innovation driven companies on Innocentive's website. InnoCentive offers companies an opportunity to increase their R&D potential by posting challenges to a confidential online forum and gaining access to leading scientific minds.

"These agreements underscore the mutual commitment between these institutions and InnoCentive to foster scientific innovation and advance science in the global market. China and Russia continue to be two of InnoCentive's top markets for scientific expertise, along with India and the US, and we look forward to establishing relationships with additional universities and bringing unique scientific opportunities to local scientists," said Mr. Ali Hussein. "This collaboration with the institutions reinforces our vision to move towards the forefront of scientific innovation. A scientist or researcher working on our platform does not have to emigrate to innovate." Hussein added, "InnoCentive's vision and efforts are global. We are using our network to realize global untapped capabilities. These agreements further enhance our efforts to successfully integrate highly qualified research minds across national and institutional boundaries."

InnoCentive's virtual laboratory brings together leading global corporations and scientists from around the globe in order to solve tough R&D challenges. Companies including Boeing, Dow Chemical, Eli Lilly and Company, and Procter & Gamble, which collectively spend billions of dollars on R&D, post scientific problems confidentially on the InnoCentive website where more than 80,000 scientists and scientific organizations located in more than 175 countries can solve them. Scientists who deliver solutions that best meet InnoCentive's challenge requirements receive financial awards ranging up to USD$100,000.

(Asia Pulse)

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