Innovaro Announces Strategic Partnership with Kazakhstan

Innovaro, Inc. (OTCQB:INNI), The Innovation Solutions Company, today announced that Innovaro and the “National Agency for Technological Development JSC (NATD) of the government of Kazakhstan have signed a Memorandum of Understanding and cooperation to form a strategic partnership.

The memorandum sets out the framework for collaboration in science, technology, innovation and academic spheres. The parties plan to cooperate in areas such as the implementation of joint projects, foresight research, promotion of innovative start-ups, technology transfer, and exchange of information on emerging technologies, innovative projects and startups.

Within this agreement NATD and Innovaro will assign members of their staff to Innovaro offices in the United States and NATD facilities in Astana. The document was signed by the Deputy Chairman of the JSC "National Agency for Technological Development" Aslanbek Amrin, as part of the visit of the Deputy Prime Minister, Minister of Industry and New Technologies, Asset Issekeshev.

“NATD looks forward to partnering with Innovaro for cooperation on innovation,” said Kanyesh Tuleushin, Kazakhstan’s Vice Minister for Industry and Technological Development. “Innovation is a key priority for Kazakhstan and the NATD is committed to moving that forward. We are excited about Innovaro’s knowledge of innovation and software and the potential to improve our innovation culture and exchange to develop the features and attributes of an innovation-type state.”

“We are very pleased to have the opportunity to work with the government of Kazakhstan through NATD,” said Asa Lanum, Innovaro’s Chairman and CEO. “The government of Kazakhstan has made significant investments over a number of years moving towards an innovation economy and culture. Innovaro looks forward to working with NATD and other organizations in Kazakhstan to assist them with their innovation journey. It is a unique position to be a strategic partner to a sovereign government committed to innovation.”

About NATD JSC

The National Agency for Technological Development JSC acts as a unitary operator of providing state support for innovation activities. This support includes; innovation grants, technological business incubation, design office services, project and venture financing, technology transfer, popularization of innovation activity and analytical support of innovation process. These services are provided through eight regional technological parks, the Park of Innovative Technologies, and Nazarbayev University. For further information about NATD, please visit its website at www.natd.gov.kz.

About Innovaro, Inc.

Innovaro is The Innovation Solutions Company. The focus of our business is to help organizations innovate and grow. Innovaro offers a comprehensive set of software and services to assure the success of any innovation project, regardless of the size or intent. The Company’s unique combination of LaunchPad software, consulting services expertise, and Trends and Foresight services provides an integrated innovation environment to businesses to drive success. For more information about Innovaro, please visit its website at www.innovaro.com.

Forward-Looking Statements

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.