Procter & Gamble Extends Partnership With inno360, Inc. to Support Connect + Develop(SM) Collaborations

CINCINNATI, April 11, 2011 /PRNewswire/ -- inno360, Inc., a leading online platform for next-generation open innovation, today announced P&G (Procter & Gamble, NYSE: PG) has renewed a multi-year Co-Development partnership with inno360 as a supportive tool for Connect + Develop.

inno360 provides a web 2.0 "infostructure" platform consisting of software and services that enables organizations to more effectively create and manage collaborative innovation ecosystems, aimed at enabling them to develop and drive innovations to market sooner and at lower cost.

As part of the collaborative partnership, P&G contributed proprietary technology and best practices embedded in its Synergy software over one year ago, and together with the joint co-development partners P&G, General Mills and the AFRL, provide requirements and feedback. inno360 is releasing the capability to support deeper levels of collaborative partnering with suppliers in current and future deployments.  The technology was recognized as a gold medal winner at this year's 2011 Edison Awards.

"Our work with the co-development partners has yielded some tremendous insights, and infused the industry's best practices and unique open innovation capabilities throughout the platform," said Frank Kovacs Chief Marketing Officer, inno360. "2010 was about connecting new networks, and delivering collaboration across the internal pillars of Innovation, (R&D, IP, Legal, Bus Dev, Supply chain, and Marketing) in 2011, the deployment schedule is nearing one thousand P&G individuals.  We could not be more pleased with the joint progress, and to have P&G as a keystone member, extending their commitment to the inno360 partnership."  

Chris Thoen, Director, P&G's open innovation Connect + Develop program, said: "In simplest terms, this platform can  help us to look quickly and broadly at where the opportunities are, and who has the expertise --  all in a single holistic platform, letting us manage the ongoing collaboration and development aspects of a potential partnership."

The faster we can identify a potential solution provider, and determine a fit with our strategies and needs, the faster we can build a win-win collaboration and thus deliver innovations that will touch and improve consumers' lives," Thoen said.

In October of 2010, P&G announced setting new goals for the expected contributions from its Connect + Develop program, aimed at tripling the impact of Connect + Develop to deliver $3 billion towards the Company's annual sales growth.  (see: P&G Sets Two New Goals for Open Innovation Partnerships)

About INNO360

inno360, Inc. is the leading provider of a Software as a Service (SaaS) platform for enterprise level open innovation. inno360™ enables private and public clients to dynamically define new networks of knowledge and best fit talent, and rapidly build their own proprietary innovation ecosystems.  The platform includes access to millions of global innovators and leading-edge web2 cloud and collaboration technology.  Included capabilities assist with problem definition, InnovationEcosystem Management™, innovation campaigns, internal and external collaboration, and proposal management.  Together, these capabilities and innovation communities provide an unparalleled foundation for organizations to drive top-line growth and bottom-line results by accelerating time to innovation - globally. For more information, please visit www.inno-360.com.

For more information about P&G's Connect + Develop(SM) approach, go to http://www.pg.com/connect_develop

Mary Thigpen
212.326.9200 ext. 708
[email protected]

Frank Kovacs
513.766.7752
[email protected]

SOURCE inno360, Inc.