Surging Demand for Innovation Services Leads to Record Expansion for NineSigma

CLEVELAND, Nov. 21, 2011 /PRNewswire/ -- Already partnering with 43 of the companies honored by Thomson Reuters as the world's Top 100 Innovators, NineSigma today announced a record year of expansion, fueled by businesses' increased recognition that innovation is critical to their long-term growth.

"The organizations that continue to surge ahead are those that never hesitate in their quest to innovate," said Andy Zynga, Chief Executive Officer of NineSigma, the leading worldwide provider of innovation services. "In particular, the ability to embed collaborative innovation across the organization is a key and winning differentiator in today's global marketplace."

Indeed, innovation distinguishes the Fortune 500 companies that are NineSigma's clients, including the largest food companies, auto manufacturers, energy companies and more. The firm has partnered with 30 percent of Fortune 50 corporations across industries, and 69 percent of the Fortune 50 in the manufacturing/processing sector. This level of market penetration has propelled NineSigma's growth to 20 percent in 2010, as new clients from around the world continue to choose its services. Among those that worked with NineSigma for the first time this year are the Big Idea Group, Bostik, CEVA Sante Animale, CIBA VISION Corporation, Harsco, the Propane Education & Research Council (PERC), and STERIS Corporation. In addition, as demand for its services continues to rise, particularly in the areas of health, energy, and sustainability, this profitable company expects to double its revenues within 2-3 years.

NineSigma has completed more than 2,000 innovation projects, and has helped customers reach potential partners from 116 countries. These solution providers have submitted more than 30,000 proposals on everything from materials to prevent chocolate from melting, to direct green laser technologies for automotive applications.

As demand for its services continues to rise, NineSigma has also opened locations in closer proximity to its worldwide client base. The company opened a Japanese headquarters five years ago, a European headquarters three years ago, and an Australian office this year.

Founded in 2000, NineSigma helped to pioneer the strategy of Open Innovation (OI), where organizations "connect with the world" for knowledge and solution providers who will accelerate their innovation cycle -- whether to achieve a competitive advantage with a breakthrough product, or to solve a pressing global challenge, such as the eradication of AIDS. The company's services include fully facilitated technology searches; technology landscaping; design and prototyping of new products; coaching and consulting with innovation leaders and their teams; trend monitoring and strategy; and much more. In its searches for new solution providers, the firm blends a unique approach to defining needs/challenges, reaching across traditional boundaries, and filtering responses to quickly match clients with quality technologies and knowledge that they require.

With $2.5 million in debt financing, secured this year from BlueCrest Capital Finance, L.P., NineSigma is in a position to continue its worldwide growth, and has recently hired a number of new people, as well. They include Vice President of NineSigma Australia Darren Coomber, sales executives Marcel Zillig (Germany), George Vincent (UK), Marcus Brady and Stephen Fanjoy (Canada), plus nine other strategy, sales, and delivery resources across the business.

"Organizations around the world recognize that innovation is vital to our economic future, and we're delighted to contribute to the landscape ahead," added Mr. Zynga.

About NineSigma
NineSigma engages organizations with external innovation resources and enables them to share knowledge to accelerate the innovation cycle, whether they are in the private, public, or social sectors. Their proprietary and collaborative process has produced billions of dollars in tangible value. Companies such as Kraft, Philips, L'Oreal, Unilever, Denso and Suntory utilize NineSigma's Open Innovation services to solve immediate challenges, fill product pipelines, integrate new knowledge into their organizations, close development gaps, and improve financial performance. NineSigma has the largest open global network of solution providers and an extensive database of existing solutions that spans all industries and technical disciplines. Our team integrates professionals from a variety of fields, including business leaders, innovation consultants and Ph.D.-level scientists. Learn more at ninesigma.com.

Media Contact:
Dawn Ringel, Warner Communications, [email protected], (781) 449-8456

SOURCE NineSigma

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