Keeping Ohio Middle Market Companies on the Forefront of Discovery
THE OHIO THIRD FRONTIER OPEN INNOVATION INCENTIVE (OII)
The Ohio Third Frontier is an internationally recognized technology-based economic development initiative that supports existing industries that are transforming themselves with new, globally competitive products and fostering the attraction of new companies in emerging industry sectors. The organization recognized that businesses need solutions to technical problems, but may not have the in-house expertise or know where to find them. Through the Open Innovation Incentive (OII), the Ohio Third Frontier provided funding to over 45 Ohio Middle Market companies to engage in NineSigma's Open Innovation model. Through this program, which ran from 2012-2015, NineSigma identified over 800 new technology solutions to these companies' most pressing challenges.
Under the Open Innovation Incentive, NineSigma's Technology Search (RFP) costs were discounted by more than 50% through a State of Ohio subsidy. Companies worked with NineSigma to extend their reach into a strategically customized list of Solution Providers drawn from NineSigma's extensive, cross-industrial global network.
This clients in this program realized value by:
Saving time finding new solutions for their technology, products and services
Increasing their exposure to viable technology solutions from adjacent industries
Enhancing their global outreach and innovation productivity
Integrating Open Innovation into their business strategy
SOLUTION PROVIDER BENEFITS
The Open Innovation Incentive (OII) provided state support for select Ohio companies to leverage new resources through Open Innovation, leading to an accelerated time-to-market of technology products, processes or services. The Ohio Third Frontier has identified eight leading growth opportunity areas that built upon Ohio's existing industry capabilities and positioned them for future growth markets. Solution Providers from around the globe participated and became new partners through the OII program.
COMPANIES WHO HAVE ENGAGED WITH NINESIGMA IN THE OPEN INNOVATION INCENTIVE PROGRAM: