Press Release
Nokia and Innventure collaborate to innovate and scale disruptive technologies
- Collaboration begins with disruptive satellite communication technology originating from Nokia Bell Labs
- Relationship led by Nokia Technologies, the company’s licensing arm
4 November 2019
Espoo, Finland & Orlando, Florida – Nokia and Innventure, which commercializes innovative technologies, have established a relationship designed to accelerate commercialization of disruptive Nokia Bell Labs satellite communications technology and intellectual property in areas beyond Nokia core businesses. The collaboration with Innventure will be led by Nokia Technologies, the company’s licensing arm.
Innventure and Nokia will focus initially on Adaptive Bandwidth Management (ABM) technology, which improves bandwidth utilization, security and resilience of satellite systems. The technology and inventions originate from Nokia Bell Labs. Over its more than 90-year history, many of the foundational technologies that underpin digital devices, systems and communications networks such as 5G have been invented by Nokia Bell Labs. Innventure will acquire rights to the ABM technology from Nokia and be responsible for further development and commercialization of this technology.
Jenni Lukander, President of Nokia Technologies, said: “Nokia continues to explore new ways to help others benefit from Nokia innovations, while creating value from our industry leading portfolio of technologies and innovation. Innventure’s approach has strong potential to further develop selected Nokia innovations on a commercial level.”
Innventure identifies, starts and manages early-stage new companies with disruptive technologies sourced from leading multinational pipeline partners. The firm evaluates these technologies through its proprietary DownSelect process to determine which technologies have substantial market opportunities. Nokia becomes Innventure’s third multinational technology partner to use Innventure’s unique commercialization platform.
Mike Otworth, Founder and CEO of Innventure, said: “We are thrilled to work with Nokia to bring the company’s transformative innovations to new markets, businesses and customers. Nokia has a strong pipeline of positively disruptive technologies. We have already progressed our evaluation of the Adaptive Bandwidth Management technology to the point that we have secured global commercialization rights for Innventure.”
About Nokia
We create the technology to connect the world. We develop and deliver the industry’s only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Our customers include communications service providers whose combined networks support 6.1 billion subscriptions, as well as enterprises in the private and public sector that use our network portfolio to increase productivity and enrich lives.
Through our research teams, including the world-renowned Nokia Bell Labs, we are leading the world to adopt end-to-end 5G networks that are faster, more secure and capable of revolutionizing lives, economies and societies. Nokia adheres to the highest ethical business standards as we create technology with social purpose, quality and integrity. www.nokia.com
About Innventure
At Innventure, we commercialize innovative technologies to transform markets by creating groundbreaking companies that stand the test of time. Our strategy is to partner with Fortune 500 Companies and identify opportunities within their R&D organizations that have the highest market changing potential. We do this through our proven systematic approach to match and align innovative technologies with substantial market opportunities. Once opportunities are identified we quickly commercialize the technologies into highly successful businesses, as a premier systematic value creation engine partner. Our unique approach also lowers the many inherent risks to more conventional start-ups. With more than 20 years of experience identifying disruptive technologies and creating successful new companies, Innventure is led by executives from XL Tech Group (XLTG) and Wasson Enterprise (WE), a family office led by former Walgreens Boots Alliance CEO Greg Wasson. Innventure’s initial, and ongoing, sourcing relationship is with Procter & Gamble, and has since expanded to Elanco. Learn more at www.innventure.com.
Media Inquiries
Nokia
Communications
Phone: +358 10 448 4900
Email: [email protected]
Mark Durrant, Licensing Communications
Innventure
Phone: +1 847-421-1477
Email: [email protected]
Tony Keller
