Global Packaging Leader MeadWestvaco Partners With inno360(TM) for Innovation Engine

November 22, 2010

CINCINNATI and RICHMOND, Va., Nov. 22, 2010 /PRNewswire/ — inno360, Inc., today announced MeadWestvaco (MWV) has selected the inno360(TM) innovation engine and framework to power the packaging company’s new Open Innovation portal called “MWV Exchange”. Together the companies will work to connect customers, suppliers and partners both upstream and downstream in next generation innovation practices.

“Companies today are looking to connect more seamlessly with key suppliers and partners to innovate together,” said Glenn Wienkoop, CEO of inno360. “With the launch of MWV Exchange, global packaging leader MWV is breaking new ground among traditional supplier relationships, and bringing their innovative approach to developing valued packaging solutions to a new level. inno360 has played a key role in creating an open innovation platform and validating direct connections to customers, suppliers and partners.”

“Our new open innovation platform reflects our focus on innovation, and we are expanding our reach to capture and generate novel ideas and solutions to challenging problems,” said Alex Cedeno, vice president of Global Innovation for MWV. “Having access to the best in class, web-based networking tools gives MWV a clear competitive advantage in serving both our customers the brand owners, as well as strengthening our relationships with our suppliers.”

“By leveraging MWV Exchange (MWVExchange.com) as our Open Innovation management system, MWV taps into the expertise of employees, suppliers, customers, inventors and academicians to solve our toughest packaging challenges,” said Paul France, director of Open Innovation for MWV. “inno360′s advanced collaboration tools will accelerate our capability to innovate with others, and bring the outside in.”

“inno360(TM) is the result of more than two years of cooperative development with recognized leaders in open innovation,” said Frank Kovacs, chief marketing officer, inno360, Inc. “It is specifically focused on enabling collaborative innovation.” In 2009, Procter & Gamble contributed proprietary technology and know-how embedded in its Synergy Software as part of their commitment to co-developing inno360. Included in inno360(TM) is the next generation multi-tier release of these capabilities. Suppliers and partners are connected for seamless collaboration as an active part of an extended team of the company, facilitating faster awareness and time to innovation.

About inno360

inno360, Inc. is the leading provider of a global software as a service (SaaS) platform for open innovation. inno360(TM) empowers companies to drive organic growth, achieve order-of-magnitude improvements in innovation effectiveness and productivity through the availability of “infinite innovation(TM)” ecosystems created through a unique innovation engine. inno360(TM) 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 technology. Included capabilities assist with problem definition, Innovator Relationship Management(TM) (IRM), 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. The Company is an affiliate of SpencerTrask Collaborative Innovations, LLC (STCI). Founded by visionary venture capital firm SpencerTrask&Co. and some of the world’s leading visionaries and pioneers in open collaboration, STCI and its Member Firms are designed to bring the collaborative innovation revolution to fruition at the world’s leading corporations, and government organizations. For more information, please visit www.inno-360.com.

About MWV

MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s most admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and commercial print industries. The company’s businesses also include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 19,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the seventh consecutive year. For more information, please visit www.mwv.com.

SOURCE inno360, Inc.

Source: newswire

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