Targeted Investor and Media Outreach to Begin for Innovation Services Company

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), a leading innovation services provider, has retained the Investor Relations Group, Inc. (IRG) to serve as its investor relations and public relations firm in the U.S., in order to achieve greater recognition in the financial and media communities. IRG, a thirteen-year-old corporate communications firm, will strive to increase UTEK’s public exposure among investors and the media-at-large through a targeted campaign.

UTEK is the world’s first publicly traded provider of innovation services. The company provides its clients with a range of services including technology licensing, strategic innovation consulting, patent analytics, and web-based IP services. UTEK maintains relationships with over two thousand universities and research labs across the world and has access to 53,000 different technologies through its proprietary database. Over the past ten years, UTEK has completed over one hundred technology licensing transactions.

“As we continue to grow and strengthen our full-suite of innovation services, it is imperative that investors and the media-at-large are made aware of our progress,” says Clifford Gross, Ph.D., Chief Executive Officer of UTEK. “With more companies realizing the value of, and benefiting from, Open Innovation, we believe the time is right to begin an active public and investor relations campaign. IRG possesses the expertise and industry relationships to expose our business model to the right people and we look forward to benefiting from this relationship.”

About UTEK Corporation

UTEK® is a leading innovation services company. UTEK’s services enable clients to become stronger innovators, rapidly source externally developed technologies and create value from their intellectual property. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.

About the Investor Relations Group, Inc.

The Investor Relations Group, Inc. offers a full-service corporate communications program designed to suit the many unique needs of Alternative Public Offering (APO) companies. The program utilizes a proprietary, targeted approach to reach institutional investors, analysts, and the media-at-large. For further information, please visit the company's website at www.investorrelationsgroup.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 UTEK “expects,” “should,” “believes,” “anticipates,” or words of similar import. Similarly, statements that describe UTEK’s future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK, and the valuation of UTEK’s investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it cannot give any assurance that its expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and UTEK does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

UTEK’s operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized and realized gains and losses of companies in its portfolio, UTEK’s dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK’s future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK’s filings with the Securities and Exchange Commission.