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People, Patents, Progress… and Now a Place

By Julie L. Forsythe
Talent Pool Director
Midwest Intellectual Property Management Institute

The Midwest Intellectual Property Management Institute (IPI) now has a place for its assets – people and patents – to comingle in a secure and nurturing environment. After completing the refurbishment of a downtown Moline, Illinois storefront space (the former Sable Jewelry), the IPI’s Engagement Center doors are slated to open mid November. It is in this space that ideas about new uses for the region’s underutilized patents are explored and identified, while existing businesses and entrepreneurs are supported through intellectual property transfer and business acceleration by world class retired talent. The talent pool and businesses will utilize this important collaboration space for meetings, testing, training and networking.

The IPI Engagement Center opening is the next piece to be put in place out of the business plan of this economic development model since its inception three years ago. The IPI is a private, non-profit organization that’s sole purpose is to create wealth and jobs within its 50-county region between Illinois and Iowa. This initiative is fueled by a $1.5 million dollar federal grant from the Economic Development Administration and a $500,000 match from Renew Moline. Providing the IPI with its initial intellectual property and patents to license are John Deere and KONE Corporation.

Retired talent is actively being recruited and matched for opportunities available within the Institute. Because the IPI client’s businesses are new and/or growing, they will receive the benefit of retired pros to work through any number of issues that a business encounters during its growth: finance, business development, manufacturing processes and more. And the retiree benefits as well: staying engaged and current, having the opportunity to collaborate with peers, and working on challenging short-term projects with a flexible schedule. There are a number of ways in which the IPI’s Talent Pool can be engaged:

Business Acceleration Teams: Entrepreneurs and existing businesses access problem solving teams otherwise not available to them with their existing resources.; Research & development; Marketing & business development; Finance & banking; Manufacturing processes & factory management

Mentors for Small Business & Entrepreneurs: Seasoned guidance in running the day-to-day operations

Individual Project Consulting: Outsourced solutions from specialized & experienced talent

Corporate IP Analysis & Commercialization Teams: Analysis and identification of corporate IP its potential applications; licensing plans

ReACTTM – Retiree Access and Callback Talent: Corporations easily access and utilize cultivated and expert retired talent to support specific projects or provide and continuance of culture

Look for specific announcements of the IPI’s Grand Opening and Holiday Open House in the upcoming weeks within the media and on its website at www.midwestipi.com. If you or someone that you know are interested in the IPI, please contact Julie Forsythe, Talent Pool Director at 309/764-3988, extension 15 or email jforsythe@midwestipi.com.