Nokia partners with Innventure to innovate and scale disruptive technologiesWednesday, 06 November 2019 05:22
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.”