NineSigma’s Global Expansion Fueled by the Growth of Collaborative Innovation Across Industries WorldwideSep 17, 2012 | Cleveland, OH
New Office in Korea, Coupled with Recognition from the State of Ohio and Other Milestones, Affirm the Demand for Open Innovation Expertise
CLEVELAND, Ohio – September 17, 2012 –
As world leaders continue to recognize innovation as a catalyst to economic expansion, NineSigma is growing as well. Today, the company announced the opening of a new office in Seoul, South Korea. This region is a hotbed for innovation as evidenced by the roster of NineSigma clients there, in industries ranging from automotive and electronics to energy and food.
NineSigma Korea will be led by Joon Hyuk Lee, Managing Director. Mr. Lee has represented the NineSigma brand and its services there since 2008, after launching South Korea’s first and largest Open Innovation (OI) community with over 200 active organizational memberships. He earned a BA from the University of Maryland, and then worked as a senior consultant at a leading management consulting firm in South Korea for over a decade before joining NineSigma.
Mr. Lee said, “NineSigma has emerged as a true leader within the South Korean market and I am very pleased to be a part of the team. We understand the local culture and are able to customize our services based on the client’s needs. It is this flexibility and commitment to continuous improvement that will ensure our long-term success within Korea.”
“South Korea is an exciting place to be right now and holds tremendous potential for continued growth of our business. In the near future, we anticipate increased demand for OI services from the government and public sectors in Korea as a means to catalyze economic growth and job creation,” said Andy Zynga, CEO of NineSigma. “NineSigma is on a strong growth trajectory with a 3-year growth of 70% forecasted by year end 2012. We expect a 30% increase in revenues from 2011 to 2012 alone and are confident that we will see this same level of growth or better for the next few years,” Mr. Zynga added.
The value of Open Innovation has also been recognized by state government organizations like the Ohio Third Frontier who recently awarded NineSigma a $2 million grant to engage Ohio’s middle market companies in open innovation. NineSigma was selected for its proven technology search process which enables shorter time to market by connecting companies quickly and efficiently to external ideas, knowledge and solutions.
To further promote the adoption of OI, NineSigma launched NineSightsTM this year; the world’s first Open Innovation social media destination. The free online innovation community connects innovators of all sizes and is moderated for quality by NineSigma’s global innovation experts. Organizations from Scientists Without Borders to Philips have created innovation galleries within the site already, and the community of solution providers and solution seekers continues to grow daily. Mr. Zynga will present features and innovation opportunities enabled by NineSights at a major social leadership conference, JiveWorld, on October 11, 2012.
This has been a banner year for NineSigma as its clients, partners and guests also prepare for the company’s Fourth Innovation Leadership Summit October 1-3, 2012. This conference is a favorite among attendees and is valuable for mature OI practitioners as well as organizations new to the concept. Register online to be part of the event and see the difference OI can make in achieving key business goals and maintaining a competitive advantage in the marketplace.
NineSigma connects organizations with external innovation resources to accelerate innovation in private, public and social sectors. The company provides open innovation services to organizations worldwide, including GE, Siemens, Roche, Under Armour and Johnson Controls, to solve immediate challenges, integrate new knowledge, fill product pipelines, and stay ahead of the competition. Named to the 2014 Inc. 5000 list of fastest-growing private U.S. companies, NineSigma’s proprietary process has produced billions of dollars in value for its clients. NineSigma has the largest open global network of solution providers and an extensive database of existing solutions spanning numerous industries and technical disciplines. NineSigma’s online innovation community, NineSights® is the world’s first open innovation social media destination, connecting innovators of all sizes with resources and relationships to drive growth. Learn more at www.ninesigma.com or www.ninesights.com.