Innovaro Confirmed in Russell Microcap® Index

TAMPA, Fla.--(BUSINESS WIRE)--Innovaro (NYSE Amex: INV), a comprehensive innovation solutions company, is pleased to confirm its place once again on the Russell Microcap^® Index in its final 2010 reconstitution, listed under our new name and ticker.

“Inclusion in the Russell Index is an important tool to raise awareness of our investment profile within the financial community”

The final 2010 reconstitution of the Russell Indexes will take place after the market close on June 25, 2010 and final membership lists will be posted on June 28, 2010 at: http://www.russell.com/Indexes/membership/default.asp.

"Inclusion in the Russell Index is an important tool to raise awareness of our investment profile within the financial community,” said Doug Schaedler, CEO of Innovaro. “We’re pleased once again to have earned inclusion.”

Russell Indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. The Russell Microcap Index comprises the smallest 1,000 securities in the Russell 2000^® Index, plus the next 1,000 companies, based on a ranking of all U.S. equities by market capitalization. The Microcap Index was designed to offer managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks.

www.innovaro.com -- www.russell.com

About Innovaro

UTEK Corporation, doing business as Innovaro, is a comprehensive end-to-end innovation solution provider. With fully scalable solutions, whether for a global 1000 company or small R&D lab or university scientist, we help our clients create breakthrough innovation, realize latent value in their IP and accelerate their innovations to market. Leading companies trust us to create profitable growth, new revenue streams, enduring capabilities and lasting value through innovation. For more information about us, please visit our website at www.innovaro.com.

About Russell

Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $179 billion in assets under management as of March 31 2010, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company. For more information about us, please visit our website at www.russell.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 at www.innovaro.com.