Induct partners with IIRA
to bring Open Innovation platform to India ...
OSLO, NORWAY and BANGALORE, INDIA – June 16, 2010 – Investment Innovation & Research Alliance (IIRA) and Induct Software™ AS (Induct), “The Open Innovation Company™,” today announced a partnership Agreement under which IIRA will resell Induct’s open innovation management system in order to facilitate and support the growth of the research and innovation ecosystem in India and beyond.
The partnership will include cooperative services for Induct in-licensing, out-licensing, IP partner services, strategic innovation consulting, and education and co-marketing through workshops and conferences. IIRA will be able to present Induct with new and established partnerships and clients across a wide range of innovation-intensive industries, including aerospace, automotive, renewable energy, information technology, life sciences, pharmaceutical, and healthcare.
IIRA is uniquely positioned to deliver on this promise by leveraging its experience, extensive networks, and deep insights in the realm of Indian research and investment. The company is well poised to help clients build sustainable innovation capabilities by addressing innovation from strategic, organizational, and cultural standpoints. IIRA’s proprietary approach offers a fine blend of creativity and vision with strategy development, action planning, and capacity building to propel sustained growth. As a Global Strategic Partner, IIRA will bring this valuable innovation management expertise to its broad network of contacts both inside and outside of India.
“India is just getting started on its innovation journey, and we are excited to be bringing Induct into the Indian market,” said Varadarajan Krish, president of IIRA. “Today, it is not enough to just innovate – the challenge lies in ensuring an accelerated method of converting creative and innovative ideas into tangible value for the organization and the end consumer. This calls for addressing innovation in terms of feasibility, profitability, and sustainability – for Strategic Innovation – to help enterprises adopt an integrated approach to building a portfolio of new business opportunities. Induct’s Web-based Software-as-a-Service open innovation system, coupled with its virtual Innovation Communities, represents the next leap forward in end-to-end innovation management technology.”
Induct revolutionizes the way that companies think about innovation. Based on the pioneering work of UC Berkeley Professor Henry Chesbrough, author of the book ‘Open Innovation,’ and one of the acknowledged leaders in the open innovation field, Induct integrates Enterprise 2.0 technology and social networking concepts with a flexible and customizable innovation process management framework. The result is a ‘Software as a Service’ (SaaS) platform that allows organizations to easily practice open innovation through the creation of virtual Innovation Communities.
“IIRA is a driving force in the Indian innovation market, and we are pleased to be partnering with them,” said Alf Martin Johansen, founder and Chairman of Induct. “Induct seeks to help companies to transition over time to a more open innovation environment. IIRA’s consultative approach of helping to transform enterprises into market leaders by fostering and sustaining innovation is very consistent with our market view. IIRA has a deep understanding of, and real world experience with, the complex issues driving innovation in India and beyond. We are looking forward to helping them deliver the benefits of Induct technology to this important high growth market.”
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Alf Martin Johansen
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David M. Burns
2010 Induct Software AS – Induct ™, Innovation Community™, Innovation Communities™, The Open Innovation Company™, and the Induct four-colored logo are trademarks of Induct Software AS. Copyright © Induct Software AS. All rights reserved. All other trademarks are the property of their respective owners.