Specialized Search Leader Chemidex Changes Name to Innovadex, Reflecting Expansion into More Global Markets

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Innovadex (formerly Chemidex) has the most powerful specialized search engine in the chemical and life science industries; the world’s largest repository of product technical literature serving those industries; a proven, profitable new media business model and technology platform that can be applied seamlessly to numerous markets; and expansion plans to serve the majority of industrial, scientific, technical and medical segments worldwide. Innovadex’s unique business model revolutionized the product development process. Innovadex speeds product development by connecting qualified product developers worldwide with raw material and ingredient suppliers during the earliest phases of the development process. With Innovadex, it takes just seconds to connect product developers with material and ingredient suppliers, samples, and Innovadex’s proprietary Cybrarys®, the world’s largest online collection of technical documents serving the chemical and life science industries. In the last 24 months, usage and advertising units have more than doubled while more traditional B2B media sectors have declined by 10 to 50 percent. Innovadex provides suppliers such as Dow, Hormel Foods, Bayer and BASF with unprecedented market reach, targeted advertising, actionable product interest tracking and measurable results. Half of Innovadex’s customers are outside the U.S. and their search engine is available in seven languages. The company has offices around the world to serve the North American, European, Asian Pacific and Latin American markets.

Five years from now, there will be a specialized search engine in every industry. With a scalable business model and technology platform, Innovadex is ideally positioned to serve the majority of industrial, scientific, technical and medical segments.

Chemidex, a leading business-to-business (B2B) search engine for product developers worldwide, is changing its name to Innovadex to reflect its expansion across a growing range of industries. Innovadex’s unique business model speeds innovation by connecting product developers worldwide with material and ingredient suppliers during the earliest phases of the development process.

Innovadex (in oh vuh dex) developed the most powerful specialized search engine in the chemical and life science industries, including personal care and cosmetics, and food and beverage. With Innovadex, it takes just seconds to connect qualified product developers with material and ingredient suppliers, samples, and the world’s largest online collection of technical documents serving those industries. Innovadex provides suppliers such as Dow, Hormel Foods, Bayer and BASF with unprecedented market reach, targeted advertising and actionable product interest tracking.

“Five years from now, there will be a specialized search engine in every industry,” says Bruce Ianni, Founder and CEO of Innovadex. “With a scalable business model and technology platform that can be applied seamlessly to numerous markets, Innovadex is ideally positioned to serve the majority of industrial, scientific, technical and medical segments. For product developers and those suppliers who collaborate with them in these markets, it’s about fast, relevant and measureable results. Our digital information and media offerings consistently deliver against that standard.”

In the last 24 months, Innovadex usage and advertising units have more than doubled while more traditional business-to-business media sectors have declined by 10 to 50 percent.

Half of Innovadex’s customers are outside the U.S. and the search engine is available in seven languages. The company has offices around the world to serve the North American, European, Asian Pacific and Latin American markets.

Founded in 1997, Innovadex developed industry-specific Cybrarys® of product information. Innovadex’s proprietary Cybrarys house the world’s largest repository of product technical literature serving the chemical and life science industries, with a rapidly growing presence in food and beverage. To access the information, product development professionals must register as Cybrary “members”. Membership is free to all qualified industry professionals.

Over 100,000 product development experts representing over 25,000 companies worldwide are registered members. More than 90 percent of the companies that formulate coatings and personal care products in North America and Europe have at least one Innovadex member. Many sizeable companies have a large number of members.

Revolutionized Product Development

Product developers say that Innovadex has revolutionized their ability to locate technical information about materials and ingredients and order samples. Gone are the days of outdated brochures and business cards, endless searches through multiple web sites each designed differently, numerous passwords and logins, and trying to remember if a sample was ordered.

“It really changed the way we find raw materials because we previously were limited to companies for which we already had information or contacts,” says PPG Industries Chemist Jenna Schenker, who develops liquid industrial coatings. “The biggest advantage is time savings. (Innovadex) gives you the ability to search across several suppliers for the same types of materials and order samples from a single source.”

“Sometimes you have a few things you need from different companies and you can put them all on one sample request. With (Innovadex), there’s one format with the same check boxes for ordering samples, it keeps records of sample requests so you know when or if you placed an order, and you can type notes about why you requested a sample. It saves you from having to register at numerous web sites and remembering separate logins for each supplier,” Schenker says.

“I personally favor companies that are on (Innovadex)," says Kim Wilson, Scientist-Product Development for Mary Kay cosmetics. “It’s very user friendly, it’s very convenient and it lets me order samples then and there. There is no comparison. I love it. I am on (Innovadex) multiple times almost every day.”

Unprecedented Targeted, Measurable Results

Raw material, ingredient, and equipment suppliers tout Innovadex’s ability to deliver timely, highly targeted information to product developers that results in unprecedented feedback, leads and increased, measurable marketing results.

“(Innovadex) is highly effective in comparison to other marketing channels,” says Christina Bachmann-Roth of Life Science Ingredients-Microbial Control for Lonza in Basel, Switzerland. In the U.S., Thomas Brancato, Head of North America Sales and Marketing for Lonza’s Life Science Ingredients-Nutrition division, says “(Innovadex) has increased our ability to directly reach customers who can benefit from our products by supplying quality targeted leads for follow-up…You can measure more effectively the leads generated by (Innovadex) compared to print ad placement.”

Cara Eaton, Marketing Manager of Communications for Croda, says she applied Innovadex’s analysis of its most effective ads to her messages and saw an increased response. “We used to talk about how we were so impressed with (Innovadex) for their huge data base of contacts and their ability to reach so many different formulators but, not only do they have that, now they have data that can help you improve the deliverability of your message to your customer,” she says.

In addition, notes Eaton, “There are certain companies who have never requested a sample from the solicitations we’ve sent ourselves but definitely request samples if the solicitation comes from (Innovadex). They include some of the larger companies that you really want to talk to.”

Hormel Foods has turned to Innovadex as both a sales tool and a cost-saving replacement for housing its own technical documents. “Instead of having to monitor our specs and information ourselves on our own site, with the expense of having to update a web site continuously, we decided to use (Innovadex),” says Melanie Brechka, National Sales Manager-Ingredients for Hormel Food Sales. “Now, we’re able to refer our customers to the web site where they can click through to (Innovadex) and access all that information on their own, saving our sales team a tremendous amount of time and freeing them to focus on sales.”

In addition to Innovadex’s unrivaled collection of industry-specific technical data sheets, material safety data sheets, starting-point formulations, recipes, white papers, product brochures, articles, and videos, developers are kept abreast of industry innovations through targeted Weekly New Trend Tuesday eNewsletters. On a daily basis, alerts allow product developers to track keywords and receive notification of new products and technologies matching their interests.

Product developers can search Innovadex’s Cybrarys for information based on a product’s type, end-use application, and performance criteria. Innovadex recently added the ability to search for products based on whether they are green (environmental impact) and have received an ecological certification.

Proven, Scalable Business Model

“Emerging investments in ’green‘ product formulation, corporate marketing mandates for more measurable marketing investments, and the continued acceleration of digital search media put Innovadex in exactly the right place at exactly the right time,” says Ianni.

“We’ve proven our value proposition in multiple markets in multiple regions of the world,” Ianni says. “We see almost limitless opportunities in new industries to deliver our unique and highly-focused new media business model.”

Innovadex currently offers Cybrarys serving the food and beverage, adhesives and sealants, graphic arts and inks, paint and coatings, household, institutional and industrial cleaners,, lubricant and metalworking fluids, plastics and elastomers, and personal care and cosmetics industries.

Innovadex is financed by institutional investor Kamylon Capital of Boston, MA, the Kansas Technology Enterprise Corporation (KTEC) and angel investors.

For more information, visit http://www.innovadex.com.

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Matt Weeks
Innovadex
913-307-9010 ext. 163
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Lauren Fasbinder
Fasbinder & Associates
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