SOURCE: NineSigma, Inc.

February 21, 2008 09:33 ET

NineSigma Capitalizes on Growth of Open Innovation; Reports a Record Year for 2007

Company Records 1000th Request for Proposal, Increases Staff by 200 Percent

CLEVELAND, OH--(Marketwire - February 21, 2008) - As a result of the growing demand for open innovation solutions, NineSigma today reported record revenues for 2007. The company's success was driven by a dramatic increase in project volume, as well as its expanding relationships with solution providers around the world.

For 2007, the company reported that revenues more than doubled and project volume increased 140 percent, while its solution provider network expanded to now include more than three million innovators worldwide. The increase in projects came from clients across a variety of industries, led by significant growth among automotive and chemical clients. To support the needs of its growing customer base, NineSigma also increased staff levels by more than 200 percent in 2007.

"Open Innovation continues to be a driving force for major technological advancements and improvements in the global business community," said Paul Stiros, president and CEO of NineSigma. "The successes we had in 2007 are reflective of the increasing demand from companies looking to establish or expand their open innovation initiatives. In 2008, we look forward to continuing to connect the world's most innovative companies with top researchers and solution providers around the world."

In addition to growing its network of solution providers, NineSigma has also seen its industry-leading Innovation Alliance Program grow to represent more than 800,000 innovators worldwide. The Innovation Alliance Program includes registered NineSigma Affiliates with networks in more than 75 countries, including North America, Western and Eastern Europe, Middle East, Asia and South Africa. The active network offers NineSigma's clients global access to a wide range of technology disciplines through trade associations, regional economic development organizations, networked companies, universities and individuals.

Stiros added, "As the leading provider of open innovation solutions, we have a proven process that has helped hundreds of domestic and international companies to find new and innovative ways to overcome their business challenges. Early indicators show that 2008 will be a great year for NineSigma, and as more companies adopt open innovation programs, we are in a great position to be the partner that helps connect them with solution providers around the world."

NineSigma continues to draw from a diverse customer base, including major companies in food and beverage, consumer goods, chemical, manufacturing, automotive, pharmaceutical and medical industries.

About NineSigma

NineSigma partners with Global 1000 companies to transform their innovation capabilities by connecting them with the very best innovators from around the world. NineSigma's proprietary process for Open Innovation enables companies to dramatically improve speed to market while lowering product development costs. NineSigma's open network of innovators is the largest of its kind and spans industries, geographies, and technical disciplines. Companies such as P&G, GlaxoSmithKline, DuPont, Kraft, General Mills and Unilever engage NineSigma to build new innovation capabilities that leverage research and innovation globally to deliver greater value to their customers. For more information visit: www.ninesigma.com.

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