Spigit Named To The First Annual InformationWeek Startup 50

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InnovationSpigit Transforms Idea Data into Profitable Innovation with an Employee-driven Platform that Creates a Digital Suggestion Box to Enable Real-time Decision Making and Meaningful Prediction

Spigit, a purpose built social networking tool for idea and innovation management in the enterprise, announced that it was named to the first annual listing of the InformationWeek Startup 50, revealed today in InformationWeek Magazine and on InformationWeek.com.

InformationWeek's Startup 50 is a list of the top 50 business technology startups selected by InformationWeek readers and editors. Companies were selected in a three-step process that involved nomination, online voting, and editorial vetting.

The technologies and the companies behind them were evaluated on the following criteria:

  •     Innovation and their ability to inject new ways of doing things into business processes;
  •     Value, which is reflected in lower costs, increased sales, higher productivity, or improved customer loyalty;
  •     Enterprise-readiness, meaning that a product or service scales and can be deployed and managed as necessary by IT pros.

InnovationSpigit 2.0 is the next-generation employee suggestion box: the most comprehensive platform designed to nurture enterprise innovation through communities of employees, customers and partners. Using InnovationSpigit 2.0, employees across the enterprise contribute ideas, offer feedback and evaluate concepts to help streamline idea generation and reveal actionable intelligence that fosters more effective and efficient decision making. IdeaSpigit, a companion product, allows customers to get into the game and contribute their own ideas.

"It is quite a privilege to be selected for this exciting honor by such a well-regarded and highly respected organization," said Paul Pluschkell, CEO and founder of Spigit. "InnovationSpigit and IdeaSpigit were conceived from a desire to provide a way for companies to extract the next big idea from employees, customers and partners, beyond the R&D team. By leveraging social media within the corporate environment, the platform enables the kind of participation, and incentives for participation, that drives organic growth by creating a culture of innovation and a sense of ownership in the business."

InnovationSpigit 2.0 encourages communities to share ideas through a dynamic, interactive and multimedia rich community in a fun and collaborative environment. The platform employs game-theory reputation and ranking, currency and asset management, trading markets and incentive and rewards modules to encourage participation.

For decision makers, the Spigit platforms employ a powerful and configurable enterprise dashboard to track and report on metrics for more than one million variables to create actionable intelligence from raw data and reduce the innovation lifecycle, gain valuable insight into the likelihood of success of an idea, increase return on investment for innovation and identify key contributors for matching with new initiatives. Spigit's award-winning innovation solutions are already in use by several Fortune 200 companies and other well-known brands at the forefront of innovation.

The full list of the InformationWeek Startup 50: Business Technology Companies To Watch, along with analysis by InformationWeek editors, can be found online at http://www.informationweek.com/news/services/saas/showArticle.jhtml?articleID=216600068.

About Spigit
Spigit is the leading developer of social productivity software for enterprises to drive innovation and empower decision makers. Spigit's product offerings range from the intra-enterprise InnovationSpigit(TM) to its customer-facing IdeaSpigit solutions. Spigit currently powers innovation projects at numerous Fortune 500 companies and has been named Best of Software Interop 2008 and is listed on the AlwaysOn Global 250 list, the power list of the top 250 private global technology companies. For more information, visit http://www.spigit.com.

About InformationWeek
InformationWeek (http://www.informationweek.com) is the anchor brand for the InformationWeek Business Technology Network - a powerful portfolio of resources that span the technology market, including security with DarkReading.com, storage with ByteandSwitch.com, application architecture with IntelligentEnterprise.com, network architecture with NetworkComputing.com, cloud computing with PlugIntoTheCloud.com, and Internet innovation with InternetEvolution.com. InformationWeek magazine reaches 440,000 business technology professionals at more than a quarter million unique locations. Its mission is to help CIOs and IT executives define and frame their business technology objectives. InformationWeek.com delivers breaking news, blogs, high-impact image galleries, and proprietary research as well as analysis on IT trends, a whitepaper library, video reports, and interactive tools, all in a 24/7 environment.

About TechWeb
TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events such as Interop, Enterprise 2.0, Web 2.0, Black Hat and VoiceCon; online resources such as Informationweek.com, Light Reading, Intelligent Enterprise, bMighty.com, and the Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services ranging from next-generation performance marketing, integrated media, market research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.

*13.3 million business decision-makers: based on # of monthly connections across TechWeb brands.

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Tony Keller
Spigit
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