Innovaro, Inc. Enters Fifth Phase Projects with KT, the Leading Telecom Operator in Asia
Tampa, FL -- (Business Wire) - June 11, 2012 - Innovaro, Inc. (NYSE MKT: INV), The Innovation Solutions Company announces that it has reached additional agreements with leading Korean communications company KT to provide consulting services through Strategos, Innovaro's consulting services division.
Innovaro, under these agreements, will assist the client as they continue the company-wide deployment of innovation tools, skills, structures, and processes. The current project phase focuses on embedding the new innovation capability in the company's processes and management systems as well as enhancing client employees' abilities to apply innovation techniques in their own jobs and conduct small-scale, low-risk experiments to test new ideas. In addition, KT has executed a LaunchPad license to allow deployment of the LaunchPad eLearning Streams, facilitating the ongoing training and development of their personnel.
These agreements represent the fifth phase of the relationship, which has been ongoing since April of 2010. This phase is planned for completion at the conclusion of the first half of 2012.
KT's Chairman and CEO, Suk-Chae Lee said, "Innovating the corporate culture cannot be done overnight. It is a long-term project. Working together with Innovaro on an innovation project over the last two years, KT has significantly fixed its chronic wrong practices and improved its culture. I believe that the innovation tools, skills, structures and processes newly introduced according to the contract will take their firm roots in KT."
Gary Getz, Strategos Managing Director leading the effort said, "As our client increasingly stands on its own in applying our innovation techniques, we are pleased that we can provide this additional assistance aimed at embedding innovative management as an enduring capability. The progress made by members of KT over the past two years has been remarkable; and we are proud of the helping role that we have been able to play so far."
About Innovaro, Inc.
Innovaro is The Innovation Solutions Company. The focus of our business is to help clients innovate and grow. Innovaro offers a comprehensive set of services and software to assure the success of any innovation project, regardless of the size or intent. The Company's unique combination of consulting services provides innovation expertise, its new LaunchPad software product provides an integrated innovation environment, and Intelligence and Insights services provide businesses the innovation support to drive success. For more information about Innovaro, please visit its website at www.innovaro.com.
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects," "should," "believes," "anticipates" or words of similar import. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements and these factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release is available on Innovaro's website www.innovaro.com.