PALO ALTO, CA, May 07, 2012 (MARKETWIRE via COMTEX) -- PARC, a Xerox company, launched its first Innovation Council with the goal of building a community of clients to discuss open innovation and share best practices. The council includes 16 executives from 11 companies and six countries, spanning multinational organizations to startups. The Boeing Company, Dentsu, Huawei, Motorola Solutions, Panasonic Corporation, P&G, Nomura Research Institute, Samsung, SolarWorld, Thin Film Electronics ASA, and Ultra-Scan Corporation were among those gathered at PARC on April 26th for the inaugural Council meeting.
The meeting was followed by PARC's "Power of 10" celebration, which featured insights from innovation experts and experiences from PARC clients.
"As PARC began defining what it meant to commemorate our 10th birthday as an independent company, we decided to create an intimate community, where we and our clients could share experiences and evolve together," said Michele Nemschoff, senior director of marketing, PARC. "After all, that's what open innovation is ultimately about -- being able to create and co-develop with others, instead of going it entirely alone."
Henry Chesbrough, Executive Director of the Garwood Center for Corporate Innovation at the University of California Berkeley Haas School of Business, presented at the first Innovation Council. Discussion topics at the meeting included business problems suitable to open innovation, appropriate metrics and how to align incentives for success, and moving out of silos and creating an internal culture for open innovation.
Members of the Innovation Council will continue to share insights at bi-annual meetings hosted at PARC, and together will drive strategy and content based on what's valuable in helping participants realize their innovation agendas.
Following the Innovation Council meeting, PARC hosted an invitation-only "Power of 10" celebration, which featured presentations from Chesbrough along with Michael Raynor, Director, Deloitte Consulting LLP and author of several books including The Innovator's Manifesto, as well as The Innovator's Solution (with Clayton Christensen). With the goal of marrying theory with practice, each expert presentation was immediately followed by concrete commercialization experiences from clients representing different aspects of PARC's business model. HexaTech, Motorola Solutions, Panasonic Corporation, and Thinfilm shared insights ranging from architecting an ecosystem to achieve big visions, to relying on human-centered insights for identifying unmet needs and building products that fulfill customer needs.
Attendees included Fortune 500 and Global 1000 enterprises, VCs, innovation experts, analysts, media, and PARC researchers.
"For PARC's Power of 10 we wanted to highlight our model of open innovation and co-innovation with partners because it showcases how we are literally 'innovating innovation,'" said Stephen Hoover, CEO, PARC. "In addition to celebrating our technological innovations, we wanted to highlight context through partner collaborations and rich content from innovation experts. We're looking forward to another 10 years of breakthroughs delivered to the world through partnerships with current and new clients and continuing to evolve this model."
The day's events were part of a year-long series of events at PARC, including a special "Power of 10" PARC Forum invited expert speaker series with 10 speakers in 10 aspects of innovation, which is free and open to the public.
About PARC PARC, a Xerox company, is in the Business of Breakthroughs(R). Practicing open innovation, we provide custom R&D services, technology, expertise, best practices, and intellectual property to Fortune 500 and Global 1000 companies, startups, and government agencies and partners. We create new business options, accelerate time to market, augment internal capabilities, and reduce risk for our clients. Since its inception, PARC has pioneered many technology platforms -- from the Ethernet and laser printing to the GUI and ubiquitous computing -- and has enabled the creation of many industries. Incorporated as an independent, wholly owned subsidiary of Xerox in 2002, PARC today continues the research that enables breakthroughs for our clients' businesses.
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