THE NEWSROOM

Innovation Fund and Nottingham Spirk Win International Design Award

Innovation Fund LLC ( www.innfund.com) Chairman Donald Spector announced that the venture between his company and Nottingham Spirk Design (www.ns-design.com) of Cleveland, Ohio, won the design award for Best Closure at the 2006 Global Bottled Water Congress in Italy earlier this week. The two companies, which have worked together for over 25 years, have collectively introduced more than $30 billion dollars in innovative products to the marketplace.

Barbara Carver a partner in Innovation Fund accepted the award on behalf of the companies.

Flavor Tops is a WOW type product to both manufacturers and consumers, said Spector. Everyone who sees it wants it now; it will be the must have product next year, said John Nottingham, co-founder of Nottingham Spirk Design Associates.

It is the simple elegance of Flavor Tops that has given it its instant appeal. The product was licensed last year to an international supplier of flavors and fragrances who is working with many major players in the worldwide beverage industry. Innovation Fund has carved out certain markets that it will either license or service. Even before Flavor Tops launch, the product has been named ‘Innovation of the Week’ by Fortune Magazine and has stirred a lot of attention in the industry.

The award for Best Closure of the Year, prior to its introduction, is a prelude to what we all believe will be a permanent multi-billion dollar industry, said Nottingham. This product can release powdered or liquid concentrates in a simple, non-messy, on-the-go way, Spector added. These tops which retro fit onto existing water bottles can be used for teas, juices, flavored water, sports drinks, nutritional supplements, alcohol or even medicines. The ability to mix ingredients at the time of use can create fresh flavors not often experienced with bottled beverages; this is also an advantage for medical applications.

Spector, who is also Chairman of New York College of Health Professions (www.nycollege.edu), believes that this will have major implications for vitamin waters, botanicals and nutraceuticals which are leading the upswing in bottled water and where efficacy and stability will be enhanced by not pre-mixing these ingredients in the water.

Many have indicated that in the future more wars will be fought over water than oil. Bottled water is growing throughout the world as supplies for clean water become ever scarcer. Flavor Tops can change traditional bottled water into almost any beverage. Barbara Carver said, The reaction at the 2006 Global Bottled Water Congress attended by the giants in the industry like Nestle Waters and Coca Cola as well as by individual specialty bottlers, was one of shock and awe – of the good kind, I mean.

Innovation Fund LLC owns proprietary technologies from Computer and Satellite technologies to Consumer products and Entertainment properties. It licenses to or joint ventures with Fortune 500 companies and is a worldwide leader in innovation.

FOR MORE INFORMATION, PLEASE CONTACT:
Barbara Carver at 516 921-3100 or via email.