Wellspring Adds Matthew Joyce as New Senior Vice President of Sales

CHICAGO, March 24, 2014 /PRNewswire/ -- Wellspring, the leader in enterprise software to manage research and innovation, is pleased to announce the addition of Matthew Joyce as Senior Vice President of Sales, focusing on the Corporate Markets.

Prior to joining Wellspring, Mr. Joyce was a Director for Stout Risius Ross, working specifically with corporations that require assistance with intellectual property valuation.  He also worked as a Strategic Accounts Manager for Thomson Reuters, working with intellectual property, scientific literature, and business intelligence solutions for Fortune 100 companies. 

"I'm excited to join Wellspring at this pivotal time," said Mr. Joyce.  "Throughout my career I've seen so many organizations struggling with the same pain point of handling inefficiencies across business and R&D units.  I'm looking forward to introducing them to Wellspring's Sophia software platform to provide a solution for these issues, allowing them to better manage their innovations."

"Matthew's deep experience in IP management, combined with a consultative sales approach to solving challenges, offers unparalleled value to Wellspring and our clients at a critical time when companies are recognizing the unlocked potential of IP and other knowledge assets. I look forward to Matthew's unbridled success in this rapidly growing market," said Wellspring CEO Robert Lowe.

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. 

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 Columbia.

About Wellspring Wellspring is the leading provider of software systems to unify the processes of open innovation, from technology scouting to corporate venturing to in/out-licensing to intellectual property management. The company's Sophia Knowledge Supply Chain Software enables companies, foundations, government agencies, and universities to identify and capture value from knowledge assets and their network of collaborators. For more information, please contact Sara Kronenberg at (312) 643-5100 or visit http://www.wellspringworldwide.com.

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