2014

InnoCentive Wins Prestigious Wharton Infosys Transformation Award InnoCentive Has Transformed Business by the Innovative Use of Technology



    ANDOVER, Mass., Nov. 7 /PRNewswire/ -- InnoCentive today announced that it
 has won the Wharton Infosys Business Transformation Award (WIBTA) 2005, in the
 "Enterprise Business Transformation" category. WIBTA rewards excellence and
 innovation in information technology that have industry-wide impact, and
 recognizes companies that deliver new performance trends with a potential to
 re-define industry and business models.
     (Photos:  http://www.newscom.com/cgi-bin/prnh/20050919/SFM013
               http://www.newscom.com/cgi-bin/prnh/20051103/BINGHAM )
     "We are honored to receive this award for our online research and
 development network that connects the global scientific community," said
 Alpheus Bingham, Ph.D., founder, president and CEO of InnoCentive. "We are
 committed to attracting leading global research-driven companies, and
 providing them with an open, innovation network to help address their
 scientific R&D challenges.  We want InnoCentive to be synonymous with the
 global community and that has now become a reality."
     "The Wharton Infosys Business Transformation Award recognizes the
 strategic foresight of the organizations and their leaders, who envision,
 create and execute the transformation process and propel their organizations,"
 said N.R. Narayana Murthy, chairman and chief mentor of Infosys Technologies
 Ltd., and a WIBTA panelist. "The entire panel was very impressed by the
 contributions that InnoCentive has made to transforming the scientific
 community on a truly global scale through its online network. We have great
 pleasure in congratulating InnoCentive on its accomplishment."
     Ali Hussein, chief marketing officer and vice president of global markets
 at InnoCentive said, "We are thrilled to be recognized with this prestigious
 award.  When global companies are faced with research and development
 challenges, InnoCentive can put 80,000 of the world's brightest scientists to
 work for them. This award recognizes their hard work and is a clear
 affirmation of the power of InnoCentive's virtual laboratory that can boost
 scientific innovation through Internet connectivity." Mr. Hussein added that
 "InnoCentive was selected to receive this award because of its outstanding
 work in creating a totally new way for research-dependent companies to
 accelerate product development through the use of a Web-based 'virtual'
 research and development (R&D) laboratory, that greatly reduces the escalating
 cost and time required to take a needed product to market."
     For 2005, the jury unanimously decided to award InnoCentive for connecting
 the global scientific community under one platform. InnoCentive is a web-based
 scientific solution network that rewards performance and risk taking. This
 business model expands problem-solving capacity and expertise by tapping into
 the global resources of scientists and technologists. The InnoCentive approach
 has emerged quickly as an important development in its industry for R&D.
     Commenting on the award, Patrick T. Harker, dean of the Wharton School at
 the University of Pennsylvania, said, "Three years ago, the Wharton School
 joined with Infosys to express our shared commitment to business innovation
 through the establishment of the Wharton Infosys Business Transformation
 Awards. We continue to be proud of the partnership that sponsors these awards,
 and we are delighted to join in honoring the companies selected this year."
     InnoCentive's virtual laboratory brings together leading global
 corporations and scientists in order to solve tough R&D challenges. Companies
 including Boeing, Dow Chemical, Eli Lilly and Company, and Procter & Gamble,
 that collectively spend billions of dollars on R&D, post scientific problems
 confidentially on the InnoCentive Web site 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.
 
     About Infosys Technologies Ltd. (Nasdaq:   INFY)
     Infosys, a world leader in consulting and information technology services,
 partners with Global 2000 companies to provide business consulting, systems
 integration, application development and product engineering services. Through
 these services, Infosys enables its clients to fully exploit technology for
 business transformation. Clients leverage Infosys' Global Delivery Model to
 achieve higher quality, rapid time-to-market and cost-effective solutions.
 Infosys has approximately 15,000 employees in over 30 offices worldwide. For
 more information, visit www.infosys.com.
 
     About InnoCentive
     InnoCentive is the first online forum that allows world-class scientists
 and science-based companies to collaborate in a global scientific community to
 achieve innovative solutions to complex challenges. InnoCentive is an e-
 business company of Eli Lilly and Company, a leading innovation-driven
 pharmaceutical company. To learn more and to register as an InnoCentive
 Solver, visit the InnoCentive Web site at www.innocentive.com.
 
     NOTE:  InnoCentive and InnoCentive Challenge are registered trademarks of
 InnoCentive, Inc. Other product or service names mentioned herein are the
 trademarks of their respective owners.
 
     For More Information:
     Tara Bal
     Media Contact for InnoCentive
     510-226-6780 x 162
     innocentive-pr@e21corp.com
 
 

SOURCE InnoCentive, Inc.

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