Taken from the World Business Chicago eNewsletter:
Rob Lowe (yes, that’s his real name) just relocated his company - a global leader in technology commercialization software - to Chicago, and he brought big plans along with it. According to its own company profile, Wellspring Worldwide (WW) “transforms research and creative endeavors into successful products.” World Business Chicago visited Dr. Lowe at his new headquarters to ask what his software does, and why he wants to build it in Chicago.
WBC: What do you make at Wellspring Worldwide?
Rob Lowe: We make software products to enable “technology commercialization.” So, when a researcher at a university or company comes up with a new technology their institution would use Wellspring software to characterize it, manage its patents and trademarks, and then market that new technology. And, remember that “new technology” could be a new drug therapy, software, or piece of artwork... Hopefully at the end of that process--or pipeline--there is a product created, or a license granted. Our software products are the pipelines that technologies flow through. So, our products are really used from the moment a researcher considers applying for a grant at a university, or launches a new testing process at a company, all the way through until that idea is a product on the shelf.
WBC: Tell us about Flintbox, its been called the “eBay of research” - explain.
Rob Lowe: Flintbox treats research like a product. A university, company or even a student can post anything from a new book to a new bio-material on the Flintbox site, much like a seller posts an item on eBay. Other entities, even the public at large, can then buy or download the item. In many cases, software or course materials are free or accept donations on Flintbox. It’s a distribution point online and a catalyst for offline discussions for larger projects. Flintbox differs from eBay in that on Flintbox there is usually no bidding--just listing and purchasing. In the past year, we’ve done more than 2,500 transactions and our vision is that Flintbox will be the platform by which research transactions are enabled—that’s not our dream, it’s our expectation.
The University of British Columbia created Flintbox in 2003 as a way to market university research and WW acquired the company in January 2010, when only 78 universities were using it. WW made some major software enhancements, and re-released the platform. Within nine months, we’ve grown the base from 78 institutions to more than 400.
WBC: Can you give us a specific example?
Rob Lowe: Sure, here’s a good one actually from University of British Columbia: Merck Frosst Pharmaceuticals uses Flintbox to distribute software to physicians that assesses someone’s cardiac risk profile. The software, called Cardiorisk, was developed at UBC with financial support from Merck. In this case, Merck uses a special feature in Flintbox to track doctors they’ve specifically verified. So, if you’re a doctor whom Merck has worked with, you have access to download the software for free. As a result physicians across geographies are better able to assess and track a patient’s cardiovascular risk using standardized tools built on high-quality university research.
WBC: Why did you choose Chicago as your new HQ?
Rob Lowe: We expanded from Pittsburgh because we needed access to a larger talent pool, and there are a lot of highly skilled workers here. WW has also made a push into the corporate market with our software, so being in the same city as companies like Boeing, Abbott and Wrigley just made sense. Being in a big travel hub is really helpful for our sales team. Plus, this city has an incredible atmosphere that has really energized us as a company.
WBC: Is it a blessing or a curse to have the same name as a well-known actor?
Rob Lowe: It ebbs and flows based on what he’s up to. When I was doing work in Santa Barbara (where the actor Rob Lowe lives), it was definitely a blessing because I could always get restaurant reservations.
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You can read more about Dr. Lowe and his company on the Wellspring Worldwide website. He also told us he meant it when he said he came here in part because of Chicago’s talent pool. You can use the site to send him any engineering resumes.
