Invention Machine Unveils Goldfire 5.0 to Accelerate and Sustain Every Day Innovation

BOSTON—(BUSINESS WIRE)—January 26, 2009— Invention Machine, a leading provider of innovation software, today announced the launch of Invention Machine Goldfire 5.0 – new task-based innovation software that will accelerate innovation initiatives and help engineers innovate on a daily basis. It will allow managers and users to track enterprise-wide innovation trends and programs in real time. The company also announced that Goldfire users will get unlimited access to online computer-based training courses, including the new Goldfire 5.0 courseware, at no additional cost.

Goldfire 5.0 builds upon Invention Machine’s market-leading innovation technology. The software’s new user interface provides a flexible approach to innovation as it enables users to navigate through more than a dozen critical innovation tasks — from designing new products and fixing defects to identifying new market opportunities and analyzing technology trends. It allows innovators to define their own innovation tasks, based on the level of problem they are looking to solve, from root cause analysis and function modeling to technology evolution and trend analysis.

In addition, Goldfire 5.0’s innovation metrics give executives and managers a snapshot of the company’s innovation landscape, trends and program successes as well as detailed view of specific projects with the click of a button.

“Companies are under tremendous pressure to deliver market leading products quickly and cost effectively,” said James Todhunter, chief technology officer, Invention Machine. “With Goldfire 5.0’s task-based innovation approach, companies can easily operationalize every day innovation and deliver the right products the first time, consistently.”

This new innovation platform is designed to easily connect knowledge workers with specific innovation tasks and appropriate workflows. For example, if users are looking for new market opportunities for an existing technology, the software will show users what to look for and expected results as well as guide them through the appropriate steps – from identifying core competencies to analyzing market opportunities. It features the Goldfire Desktop – a dynamic widget that sits on the desktop and details tasks and projects as well as brings the power of Goldfire to the users, even when they are not actively working within the software.

Goldfire 5.0 was designed in collaboration with Invention Machine customers primarily to address their innovation needs and business priorities. Invention Machine engineers also studied customers’ innovation ecosystem to better understand the environment in which Goldfire operates and researched usability needs. Participating companies include Lifetime Brands, Baxter Healthcare, ConocoPhillips, Hexcel, Interface and Whirlpool.

Based on customer feedback, Invention Machine has also updated and extended Goldfire courseware to reflect the innovation tasks in release 5.0. All new and existing e-learning courses are being offered to users on active maintenance at no charge.

“Aberdeen’s benchmarks show that Best-in-Class companies will continue to invest in innovation technology to help drive product development and growth,” said Chad Jackson, vice president, Product Innovation & Engineering, AberdeenGroup. “In fact, nearly 50% of those surveyed in a recent study indicated that they plan to invest in innovation application like Goldfire so they can accelerate and sustain the product innovation process.”

About Invention Machine

A leading provider of innovation software, Invention Machine drives sustainable innovation by enabling global organizations to translate ideas into market-leading products, consistently. Invention Machine Goldfire empowers engineers and scientists to conceive and validate the right ideas the first time, so they can rapidly and repeatedly deliver market leading products. Global 2000 manufacturers in more than 25 countries rely on Invention Machine for product innovation, process improvement and market expansion. Its unique software fuels sustainable innovation across numerous industries, including aerospace and defense, automotive, consumer technology, energy and environment and life sciences. For additional information, please visit

Invention Machine and Goldfire are trademarks or registered trademarks of Invention Machine Corp. in the United States and in other countries. All other trademarks contained herein are the property of their respective owners.


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