Worldwide scientific forum expands into aerospace R&D

Andover, MA – April 20, 2004 – Boeing Phantom Works, the advanced research and development unit of Boeing, has signed an agreement to join InnoCentive’s online scientific forum.

Owned by Eli Lilly, the InnoCentive forum was originally launched in 2001 and matches scientists to relevant R&D challenges facing companies around the globe. Companies contract with the forum to allow them to post their challenges. Each challenge includes a detailed description and requirements, a deadline, and an award amount for the best solution. The companies benefit because it enables them to increase their R&D potential by tapping the intellectual might of the worldwide scientific community without compromising their confidentiality and intellectual property interests. Scientists benefit from awards that range from $5,000 to $100,000. The company says that, to date, more than 55,000 scientists and researchers in 150 countries worldwide have registered with the site.

To date, the challenges have been focussed in the areas of chemistry and biology, but the new agreement with Boeing extends the site’s reach of clients into the aerospace industry.

“Since its founding, InnoCentive has been focused on attracting top R&D companies to join our Seeker community,” says Darren J Carroll, president and chief executive officer of InnoCentive. “This new agreement with Boeing Phantom Works attests to the strength and viability of InnoCentive’s mission of addressing the R&D challenges of global companies with the brightest scientific minds worldwide.”