There’s a “new, new” name in the invention business: Xinova, a company that’s been spun out from Intellectual Ventures and is now in the midst of reinventing itself.
Xinova used to be known as the Intellectual Ventures Invention Development Fund. For the past decade, it’s played a key role in the company that technology pioneer Nathan Myhrvold founded to develop and manage intellectual property.
In May, IDF was transformed into an independent company, joining other IV spin-outs such as TerraPower, Kymeta and Echodyne. Its CEO is Thomas Kang, formerly of Seoul Securities. The company is getting ready to move from its current digs in Bellevue, Wash., to downtown Seattle. And today it was officially rechristened with a name that blends the Chinese word for “new” (xin, or 新) with the equivalent word in Latin (nova).