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InnoCentive and Booz Allen Hamilton Form Strategic Alliance

InnoCentive and Booz Allen Hamilton Form Strategic Alliance

Waltham, Mass. December 15, 2011 InnoCentive, Inc., the pioneer in open innovation and crowdsourcing, and Booz Allen Hamilton, a world leader in management and technology consulting services, today announced a strategic alliance to help commercial and government organizations harness the power of prizebased Challenges, open innovation, and crowdsourcing to solve critical mission issues faster and more effectively. A Challenge is a proven approach to solving important problems by leveraging large communities of people crowdsourcing who can bring new expertise and diverse perspectives to bear.

Both InnoCentive and Booz Allen Hamilton have a proven track record in delivering solutions to real problems for our government clients, said Jon Fredrickson, vice president of government at InnoCentive. Allan Steinhardt, a Booz Allen Hamilton vice president, elaborates: We find that agencies are serious about leveraging new tools and methods to find innovative solutions to problems that matter most to their missions, while also advocating for publicprivate partnerships, and promoting transparency, openness, and collaboration across government.

Within many commercial organizations as well, the current innovation capabilities, pipelines, and portfolios are insufficient to drive growth and sustain category leadership. Executives struggle with product launch delays and getting new products to market, budget cuts, tight schedules, diminishing productivity, and competitive dynamics. Open innovation aims to alleviate these pressures as an augmentation and accelerant to existing internal R by enabling companies to harness diverse and global communities of knowledge and talent for the purpose of increasing problem solving capacity, improving business performance, and fundamentally changing the economics of innovation.

Our two companies understand better than anyone that delivering value to clients is dependent on extracting the best ideas and solutions from the global community, continued Allan Steinhardt. We believe that the partnership with InnoCentive will provide our joint clients with an integrated resource that accelerates innovation and problem solving capabilities to help them deliver against their missions faster and more cost effectively.

Available now, the integrated Booz Allen HamiltonInnoCentive offerings provide commercial and government organizations with:

The Open Innovation Diagnostic Program that includes vision and objectives definition, benchmarking, readiness, gap analysis, and strategic recommendations

Mounting pressures on all of our clients to drive efficiencies and implement better approaches to problem solving and innovation creates a unique opportunity and window, said Dwayne Spradlin, CEO of InnoCentive. Whether it is innovating faster to bring products to market more quickly, or delivering new tools to public sector agencies to help them better deliver on their missions, the timing could not be better. This partnership and our joint gotomarket solutions represent a force multiplier for both commercial enterprises and government organizations alike.

InnoCentive is the open innovation and crowdsourcing pioneer that enables organizations to solve their key problems by connecting them to diverse sources of innovation including employees, customers, partners, and the worlds largest problem solving marketplace. InnoCentives proven Challenge Driven Innovation methodology, community of millions of problem Solvers, and cloudbased technology platform combine to fundamentally transform the economics of innovation and R through rapid solution delivery and the development of sustainable open innovation programs.