SOURCE: NineSigma

March 21, 2007 08:30 ET

NineSigma Records Strong Growth Across Industries

Diverse Customers Embrace Open Innovation Process for Competitive Advantage

CLEVELAND, OH -- (MARKET WIRE) -- March 21, 2007 -- NineSigma, a leading provider of open innovation solutions to industry, announced today that in 2006 the company achieved record customer growth across multiple diverse industries. Revenue increases came from a range of industries including consumer goods, electronics, automotive, aerospace, food and chemical, indicating the rapidly broadening adoption for NineSigma's Open Innovation process. Further, the Company entered 2007 with a record backlog of customer projects and planned to complete more projects in the first quarter of 2007 than in any quarter in the company's history.

"The diversity of industries we saw in 2006 made it a fantastic year and positions us for even greater growth in the future," said Paul Stiros, President and CEO of NineSigma, Inc. "NineSigma has been helping companies optimize their Open Innovation efforts for competitive advantage longer than any other company in the industry. By combining the $1 trillion R&D market with the unprecedented acceptance from so many customers of our value proposition, the future of NineSigma has never been stronger."

NineSigma saw growth and success in many areas of its business in 2006, including its continuing international expansion with the opening of a Japanese subsidiary and a European sales office. The company received an $805,875 development loan from the Ohio Department of Development and an additional $1.5M venture loan from MMV Financial in Toronto, Canada. Coupled with increasing cash flow from operations, this new cash will fund company growth. In 2006, NineSigma grew headcount by 106% and moved to a new expanded headquarter facility in Cleveland, Ohio.

Affiliate Program Launch

One of the key highlights of the year was the launch of NineSigma's Affiliate program. Deepening NineSigma's diverse network of innovators and scientists the Company's new program is accelerating fruitful connections between client needs and innovators with available technologies. Based on the success of the Affiliate Program and the network's expanding reach, 2006 marked the largest innovation contract in NineSigma's history -- a nearly $2M contract to an international solution provider to provide a Fortune 20 company with a critical component for a new product development process.

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 and reducing risk in decision making. NineSigma's open network of innovators is the largest of its kind and spans industries, geographies, and technical disciplines. Companies such as P&G, 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

Contact Information