Lilly's Web-Based Research Marketplace

01 Sep 2001

• By Jeff Dvorin

Eli Lilly & Co. is venturing into previously uncharted e-R&D waters with Innocentive LLC, a wholly owned subsidiary launched earlier this summer with an undisclosed amount of backing. Innocentive offers a means for pharmaceutical and other research-dependent companies to farm out research problems to scientists who receive cash awards of up to $100,000 from any company that accepts a particular solution.

Eli Lilly & Co. is venturing into previously uncharted e-R&D waters with InnoCentive LLC , a wholly owned subsidiary launched earlier this summer with an undisclosed amount of backing from Lilly's e.Lilly Venture Fund. (See "Lilly's E-Venture Fund: Getting In At The Bottom," START-UP, February 2001 [A#2001900027.) InnoCentive offers a web-based means for pharmaceutical, biotech, and other research-dependent companies to farm out research problems to scientists who receive cash awards of up to $100,000 from any company that accepts a particular solution.

The InnoCentive marketplace consists of a web site featuring projects for which the posting companies are seeking scientific assistance. There...