UTEK’s TekScout™ Teams With Science|Business To Help Companies Meet R&D Needs

PRLog (Press Release) – Apr 30, 2008 – UTEK’s TekScout™ Teams With Science|Business
To Help Companies Meet R&D Needs

Independent News Service Will Post TekScout Listings

TAMPA, FL – UTEK Corporation’s (AMEX, AIM: UTK, www.utekcorp.com ) TekScout™, an online network that links companies and scientists to help advance research and development processes, has teamed with Science|Business, an R&D news service, to make information available to each other’s readers.

Science|Business, an independent news and events service focused on research and development investment and policy in Europe, connects buyers and sellers of emerging technologies. Through the agreement, Science|Business will post TekScout’s listings to help attract companies and readers to solve challenges posted on TekScout. There is a direct link to www.TekScout.com on the Science|Business homepage. UTEK anticipates that this partnership will help reach its target audience and gain increased exposure and hits through Science|Business’ readers.

“Our partnership with Science|Business is a logical one, given the synergies that exist between our business objectives and reader bases,” says Clifford M. Gross, Ph.D., CEO of UTEK. “By partnering with Science|Business, we see a unique opportunity to attract a European audience to our own network and expand our footprint in the European market.”

Richard L. Hudson, CEO and Editor of Science|Business comments, “We believe that by posting TekScout’s listings to our readers, we are offering them added value and opportunities to participate in advancing R&D for technology specialists seeking outside help. In order to better pair buyers and sellers, it is important that we expand upon our own capabilities and work with companies like UTEK that can help us achieve this initiative.”

About UTEK Corporation
UTEK® is a leading Open 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. For information on TekScout, please visit www.TekScout.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.


UTEK Contact
The Investor Relations Group
212-825-3210

Investor Relations:
Michael Crawford / mcrawford@investorrelationsgroup.com
Emily Hanan / ehanan@investorrelationsgroup.com

Media Relations:
Susan Morgenbesser / smorgenbesser@investorrelationsgroup.com

Science|Business Contact
Richard L. Hudson
+32 496 520 305
richard.hudson@sciencebusiness.net