Thursday, July 16, 2009

InnoCentive Launches New Strategic Consulting Business

InnoCentive, Inc., the global open innovation marketplace, today announced plans to bring to market a new strategic consulting offering, tasking respected and widely quoted innovation consultant Stephen Shapiro with designing the structure of the new business. Shapiro is author of ''24/7 Innovation: A Blueprint for Surviving and Thriving in an Age of Change'' (McGraw-Hill, 2001) and a sought-after speaker on the topic of innovation. In his new role as Vice President of Strategic Consulting, Shapiro joins the existing senior management team, bringing a unique perspective and more than 20 years of experience with challenge-driven innovation. In addition, Shapiro will be responsible for working with key consulting partners to ensure an integrated methodology and common approach to open innovation for joint clients.

With its new strategic consulting offering, InnoCentive will help organizations benchmark their open innovation readiness, develop custom innovation approaches and advise them on how best to engage in the cultural and process changes necessary to be successful. This in turn will give organizations the tools to make open innovation repeatable and predictable, like other capabilities in their business.

"InnoCentive already has a strong reputation for open innovation. My role will be to expand this reputation to encompass innovation in general," said Stephen Shapiro. "I am thrilled to be part of an organization that is changing the world, one challenge at a time."

In his books, "Little Book of BIG Innovation Ideas" and "Innovation Personality Poker," Stephen Shapiro draws on his corporate expertise and innovate concepts to counsel individuals and businesses on techniques to realize their full innovation potential. Previously he had a 15-year career with the international consulting firm Accenture, where he established and led their Global Process Excellence Practice, delivering innovation training to 20,000 consultants. Shapiro has presented his formula for success to hundreds of thousands of people in nearly 40 countries. Among the dozens of leading organizations he has advised are Staples, GE, Fidelity Investments, Pearson Education, Nestlé, Johnson & Johnson, and Bristol-Myers Squibb.

"We are always striving to help our customers realize increased success," said InnoCentive CEO Dwayne Spradlin. "Our strategic consulting offering will complement our existing ONRAMP, @Work and Marketplace offerings, and is a natural 'next step' for us. We welcome Steve to the team."

Shapiro will report directly to Dwayne Spradlin, President and Chief Executive Officer, InnoCentive, effective immediately.

About InnoCentive, Inc.

InnoCentive was founded in 2001 to help companies innovate better. InnoCentive built the first global web community for open innovation, enabling scientists, engineers, professionals and entrepreneurs to collaborate to deliver breakthrough solutions for R&D-driven organizations. InnoCentive Seekers, who collectively spend billions of dollars on R&D, submit complex problems to the InnoCentive Marketplace where more than 175,000 engineers, scientists, inventors, business people, and research organizations in more than 175 countries are invited to solve them. Solvers who deliver the most innovative solutions receive financial awards ranging up to US$1,000,000.

InnoCentive@Work, InnoCentive's Software as a Service offering, helps organizations make the most of internal resources by uniting experts from all areas of a company in an open innovation environment that encourages cross-fertilization of ideas. InnoCentive makes it easy to get up to speed on either product with ONRAMP, an extensive set of tools, expertise and best practices designed to accelerate success. InnoCentive's Seekers include commercial, government and non-profit organizations including Avery Dennison, SAP, Procter & Gamble, Pendulum, Eli Lilly and Company, Janssen, Solvay and The Rockefeller Foundation. For more information on InnoCentive, go to:

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