Wellspring Worldwide: Opens New Office in Chicago, Expands Engineering

Wellspring Worldwide, a leading provider of software systems for managing research and technology commercialization, today announced the opening of an office in Chicago, Illinois. The office will be located in Chicago's River North district and opens February 1, 2011.

The company will maintain engineering staffs in both Chicago and Pittsburgh. The Customer Support Group will be relocated to the Chicago office, with plans for continued expansion during the first and second quarters of 2011. The company plans to add 2-­-4 new business development staff in Chicago in the next year, while maintaining current business development staff in Pittsburgh and Cambridge, UK.
This expansion meets the demands of rapid sales growth for the company's flagship product, the Sophia Knowledge Management System, as well as Wellspring's acquisition of Flintbox.com, a global marketplace for technology commercialization, earlier in 2010. Sophia product sales doubled in 2010 after posting over 30% growth in 2009, and Flintbox continues to gain traction in the innovation community since Wellspring re-­-launched the website in April.

\"Chicago is a major center for innovative companies and serves as a strategic expansion point as we continue to increase our sales in the corporate R&D market,\" said Robert Lowe, Wellspring's Chief
Executive Officer. \"As Wellspring continues to grow and seek out new product opportunities, it is essential to diversify our location presence.\"

About Wellspring Worldwide

Wellspring Worldwide is the leading provider of web-­-based software to the research community. Wellspring's software products empower universities, companies, government agencies, and independent labs to more effectively manage and promote the value and adoption of research. With offices in Chicago, IL, Pittsburgh, PA, and Cambridge, UK, Wellspring serves research-­driven organizations on 6 continents. Wellspring also operates Flintbox.com a website bringing together researchers, investors, and entrepreneurs on a single Open Innovation Platform. To find out more about Flintbox and Wellspring, please visit www.wellspringworldwide.com.


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Jennie Roth
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Wellspring Worldwide