CLEVELAND, Ohio – March 31, 2009 – NineSigma, the leading provider of open innovation solutions, today announced a strategic partnership between its Asian company, NineSigma Japan, Inc., and KnowledgeWorks Co., Ltd, a leading Korean consulting firm specializing in technology management. As a result of the agreement, the two companies will work together to accelerate the growth of the open innovation market in Korea by helping companies transform their innovation capabilities.
“This partnership is a great opportunity to expand our presence in a growing Asian market with a strong culture of technology innovation,” said Aki Suwa, president of NineSigma Japan. “KnowledgeWorks brings local knowledge and an extensive network of large corporations that will help us penetrate the market more effectively and in a shorter period of time.”
“We are pleased to initiate a strategic partnership with such a prestigious organization as KnowledgeWorks,” said Koji Masumoto, vice president of sales for NineSigma Japan. “KnowledgeWorks has extensive expertise and established networks that will complement NineSigma Japan’s capabilities quite well. This partnership will become a driving force to enhance our leading position as an Open Innovation services provider in Asia.”
As part of the partnership agreement, KnowledgeWorks will refer client companies to NineSigma Japan to develop and implement open innovation programs that enable them to overcome critical business and technology challenges. NineSigma Japan will engage with KnowledgeWorks clients through its technology intermediary service across the innovation value chain, from basic research to manufacturing, process improvement and ready product acquisition.
“We are always looking for ways to expand business opportunities, and NineSigma has the reputation and proven experience we are looking for in a partner,” said Dr. Chulwon Lee, chief executive officer of KnowledgeWorks. “There is great potential for NineSigma’s Open Innovation products and services in the Korean market, and we fully believe our clients will embrace the opportunities to extend their innovation reach, expand into new markets and broaden their network of resources.”
“There is tremendous interest in making this partnership between NineSigma and KnowledgeWorks successful, for both of our companies, as well as the region,” added Joon Hyuk Lee, general manager, new business development for KnowledgeWorks. “Given the current global economic climate, the opportunity to dramatically improve speed to market while lowering product development costs provides a great opportunity for Korean companies. We look forward to helping NineSigma expand its presence in the Korean market and further advance innovation within our country.”
KnowledgeWorks Co., Ltd. (KW) is a leading Korean consulting firm specializing in technology management. KW works with corporate and government sector clients to maximize their investment in new technology development while creating value through implementing new innovation processes. KW’s consulting services include Management of Technology, Technology Transfer and Commercialization and Knowledge Contents. For more information, visit http://www.knowledgeworks.co.kr/.