SOURCE: NineSigma, Inc.

NineSigma, Inc.

September 01, 2009 13:06 ET

NineSigma Surpasses 1,500 Mark in Open Innovation Projects

Project Volume Grows as Demand for Expert-Sourcing and Innovation Consulting Increases

CLEVELAND, OH--(Marketwire - September 1, 2009) - NineSigma, the leading provider of open innovation solutions, today announced that it has conducted more than 1,500 open innovation projects since its inception in 2000. This milestone is a result of the company's steady growth in the number of new clients and expansion into new geographic areas including Europe and Asia. With each project, the company continues to build its extensive community of innovation providers and reach top innovation talent across industries and disciplines. To date, NineSigma has:

--  Distributed innovation requests to more than 2 million solution
    providers globally;
--  Received 20,000+ innovation proposals from solution providers in 135
    countries;
--  Facilitated over $12 million in contract awards between its Global
    1000 clients and solution providers.
    

"There's no doubt that open innovation has become a driving force in global innovation strategy," said Matthew Heim, president of NineSigma. "What's different today is that companies are learning how to be more effective in incorporating outside ideas and capabilities into their organizations, and as a result are getting more value from and are increasing their investment in open innovation. While our clients continue to become more sophisticated in how they utilize open innovation, we are also seeing growing interest from new sectors of the economy, such as regional and national governments looking to leverage the significant benefits of open innovation to fuel economic growth."

In addition to its traditional role of innovation intermediary, NineSigma has introduced a number of key innovation services in the last year to support the growth in demand for open innovation. New services include NineSigma Intelligence(SM), a business technology intelligence service which helps companies assess the landscape of emerging technologies, and its RapidOI(SM) program which enables companies to more effectively adopt new solutions and knowledge through the open innovation process.

About NineSigma

NineSigma helps Global 1000 companies Engage with the global innovation community and Enable their organizations to more effectively adopt external knowledge and resources. Companies such as GlaxoSmithKline, Kraft, Philips, Unilever and Xerox utilize NineSigma's open innovation services to solve immediate challenges, fill product pipelines and integrate new knowledge and capabilities into their organizations. NineSigma has the largest open global network of solution providers and an extensive database of existing solutions that spans all industries and technical disciplines. The company also has operations in Europe and Asia. Learn more about NineSigma at www.ninesigma.com.

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