Copenhagen, December 2008

MillionBrains A/S has received DKK 6 million in venture capital from the Danish JL Foundation. The capital will be used to complete the development and launch of MillionBrains.com – a new and innovative web-based concept, matching Companies and Brains on a global scale.

The Copenhagen-based company MillionBrains A/S has signed an investment agreement of DKK 6 million with the JL Foundation through the affiliated company Vesterhavet A/S. This agreement allows MillionBrains A/S to enter the final stages of developing their groundbreaking Open Innovation concept. In an ever increasing global marketplace with vast competition, MillionBrains™ creates a dynamic match between talents all over the world and the companies’ need for new solutions to their innovation projects and general challenges.

CEO and co-founder of MillionBrains A/S, Sam Kondo Steffensen, states: ”We see this important investment as a great recognition of the MillionBrains concept, including the value of the unique technological platform, the strong brand and the value of a truly global launch and implementation strategy.” He continues:

”In a global market, where companies as well as talents with international ambitions, constantly are met by the demands of efficiently being able to master new open innovation processes, shorter time to market and new interactive work methods, MillionBrains will become a new central and value creating tool.”

CEO of Vesterhavet A/S, Bent Østergaard, says: ”We have especially focused on the strength of the concept in conjunction with the obvious trends we see both within Open Innovation and the new social media. Another advantage is the ability to attract, retain and dynamically use the global talent pool in concrete company projects. At the same time we are convinced of the powerful potential in the MillionBrains team, their vast experience, international network and bold visions.”

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