NineSigma has announced that they will work with Columbus, OH-based Elmer’s Products under the new Ohio Third Frontier Open Innovation Incentive (OII) Program. In August of 2012, NineSigma was selected by the State of Ohio to help middle market companies, with revenues between $10 million and $1 billion, accelerate their adoption of open innovation to drive growth. The Ohio Third Frontier OII was established to foster collaborative innovation that will lead to job creation and build competitive advantage for Ohio on a national and global level.
Elmer's Products has been a trusted brand and industry leader for more than 65 years. The company produces a range of products that are designed to provide project solutions and encourage people to create, build and learn throughout their lives. Elmer’s Glue-All, Instant Krazy Glue, and X-ACTO are just some of its well-known consumer products.
“Elmer’s products have long been the go-to products whether at work, play or in school. As a company rich with history and tradition, we are excited to collaborate with their innovation team as they look to the future and find new ways to deliver value through enhanced product features and solutions,” said Andy Zynga, CEO of NineSigma.
Open innovation involves “looking to the outside” for technologies, solutions, and ideas to accelerate the development of new products and increase speed to market. Through the Open Innovation Incentive, NineSigma is working closely with middle market solution seekers to complement their internal R&D capabilities and create custom external networks of innovation providers with viable solutions, filtering responses for their quality and fit. The State is assisting these solution seekers by funding a portion of the transactional costs of engaging an open innovation company.