New NineSigma White Paper: Defining Success in Open Innovation

CLEVELAND, OH--(Marketwire - January 27, 2009) - A new white paper released today by NineSigma addresses the often debated question of how to define success in open innovation. The white paper, "Defining Success in Open Innovation," discusses several measurable, accumulative benefits that companies can achieve from proactively engaging with the global innovation community. Included in the paper are examples from NineSigma's customers that are extracting value from their open innovation initiatives beyond bottom-line benefits. Featured are innovation leaders Schlumberger, Sealed Air Corporation and Xerox.

Open innovation is not a new concept, but given the current global economic conditions, an increasing number of companies are embracing the opportunities presented by a more open, collaborative innovation process. This model provides an affordable and proven method of sharing risks with external partners and experts, while also increasing the potential for success. As NineSigma has learned, there are many ways to define success in open innovation. The company's new white paper focuses on the following three:

--  Financial
--  New Opportunities and Connections
--  Knowledge
    

"Our extensive experience in open innovation with many of the world's leading innovative companies have revealed various ways to define success," said Matthew Heim, president of NineSigma, Inc. "Each provides validation and justification for using open innovation to help solve critical business and technology challenges and build knowledge to support one's innovation strategies. Whether it's a relationship with a new partner that delivers value beyond the initial engagement or a need presented to the marketplace that redirects a solution provider's research focus to a new opportunity, open innovation provides numerous benefits for both innovation seekers and providers."

In the white paper, Sealed Air shares how open innovation is being embraced across the company because of positive financial results driven by the practice; Xerox highlights the importance of the relationships the company has made with global solutions providers, which are key enablers for the company's ongoing open innovation initiatives; while Schlumberger points out the importance of internal knowledge mapping as an important first step in pursuing new market opportunities.

To read the entire white paper, click here or cut and paste the following link in your web browser: http://www.ninesigma.com/defining-success-in-open-innovation.

About NineSigma

NineSigma helps Global 1000 companies develop and maximize value from their open innovation programs. Companies such as GlaxoSmithKline, Kraft, Philips, Unilever and Xerox engage NineSigma to build new knowledge and capabilities that accelerate the innovation cycle and increase productivity. A leader in expert-sourcing, NineSigma has the largest open global network of solution providers and an extensive database of existing solutions that spans all industries and technical disciplines. In 2008, NineSigma ranked among the top 20 percent of companies on the Inc. 5000 list of fastest growing private companies in the United States. The company also has operations in Europe and Asia. For more information, visit www.ninesigma.com.

Contact Information: Media Contact: Dan Dyer 513-478-7818