Nokia announced that it has struck a deal with Innventure to accelerate the commercialization of satellite communications technology that was developed at Nokia Bell Labs.
The technology, known as Adaptive Bandwidth Management (ABM) technology, is designed to improve bandwidth utilization, security and resilience of satellite systems. The technology and inventions originated from Nokia Bell Labs.
Nokia said Innventure will acquire rights to the ABM technology from Nokia and be responsible for further development and commercialization of the technology. The collaboration is being led by Nokia Technologies, the company’s licensing arm.
“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,” said Nokia Technologies President Jenni Lukander in a statement. “Innventure’s approach has strong potential to further develop selected Nokia innovations on a commercial level.”
Innventure identifies, starts and manages early-stage companies with disruptive technologies sourced from leading multinational pipeline partners. The firm evaluates these technologies through what it describes as its proprietary DownSelect process to determine which technologies have substantial market opportunities. Nokia is Innventure’s third multinational technology partner to use its commercialization platform.
According to a statement by Mike Otworth, founder and CEO of Innventure, it has already progressed its evaluation of ABM to the point that it has secured global commercialization rights for Innventure.
Innventure was formed in 2017 through a joint venture between Wasson Enterprise, a Chicago-based angel investment group founded by former Walgreens CEO Greg Wasson, and Innventure, a company co-founded by Otworth to commercialize innovative technologies.
Wasson told Forbes in an interview last year that what Innventure does is help large corporations commercialize their intellectual property because they either can’t or don’t want to commercialize it themselves. Its first company used technology developed at Procter & Gamble for recycling polypropylene plastic.