What is "innovaro"

Innovaro, formerly known as UTEK Corporation, is a consulting company focused on innovation and software solutions. It is based in Tampa, Florida. It was founded by Clifford M. Gross in 1997. The company Initial public offering was in October 2000, and raised approximately US$6.0 million. Innovaro trades on the under the stock symbol INV. The company sold several divisions in September 2012 and faces delisting from the NYSE.

The original concept was to facilitate “open innovation” through the acquisition of university-developed technologies by companies that needed technologies to grow.

Innovaro has offices in Chicago and York, United Kingdom. As of March 2009, the company has over 450 clients.

The name “UTEK” originated from a phonetic contraction of University and Technology. The Company began doing business as Innovaro in March 2010. Innovaro came from one of UTEK's acquired companies and the name was adopted to best represent the overall company and its services.