Innovaro, formerly known as UTEK Corporation, was a consulting company focused on innovation and software solutions. It was 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. It raised £7.5 million on joining AIM in April 2005 and a further $10 million on NYSE where it was already listed in February 2006. For the year to 31 December 2005, revenues amounted to $22.7 million, up from $7.2 million and pre-tax profits of $9.5 million, up from $1.5 million. Innovaro traded on the NYSE under the stock symbol INNI. The company sold several divisions in September 2012 and was delisted from the NYSE. The original concept of the company was to facilitate “open innovation” through the acquisition of university-developed technologies by companies that needed technologies to grow. Innovaro had offices in Chicago, Amsterdam, London and York, United Kingdom. As of March 2009, at its peak, the company had 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. Wikipedia