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.
"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.
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:
Media Contact for InnoCentive
510-226-6780 x 162
SOURCE InnoCentive, Inc.