Ricoh to Endow Research Center at Indian Institute of

Ricoh to Endow Research Center at Indian Institute of Technology
Promoting Open Innovation in a Major Emerging Country 
TOKYO -- (Marketwire) -- 01/22/13 --  Ricoh Company, Ltd. (TSE: 7752)
(President & CEO: Shiro Kondo) announces its financial endowment and
industry partnership for the creation of the Design and Innovation
Centre ("DIC") at the Indian Institute of Technology Gandhinagar
("IITGN"). The partnership is planned for three years starting April
1, 2013. As part of the agreement, Ricoh will take part in joint
research projects at the Center. This cooperative effort will further
the company's aims of promoting Open Innovation, accelerating
research and development using global resources, and studying market
needs in India and similar markets. The technologies and services
deployed in the Indian market can form the groundwork for solutions
in other large emerging regions including Africa, the Middle East,
and Southeast Asia, which together constitute a market of over 2.5
billion people. 
The Indian Institute of Technology ("IIT") is the collective
designation for the sixteen national higher educational and research
institutes in India. With a student admission rate of less than 2%,
IIT is an exclusive internationally acclaimed educational body. IITGN
was set up in 2008. Located in the capital of the state of Gujarat in
western India, IITGN is ideally situated at the intersection of
leading-edge IT infrastructure, traditional culture, scholarship and
In February 2012, Ricoh established Ricoh Innovations Private Limited
("RIPL") in Bangalore in southern India. A subsidiary of Ricoh
Innovations, Inc. ("RII") in Menlo Park, California, RIPL was created
to combine market-oriented technology development with regionally
optimized research to pioneer new business tailored for the Indian
market and similar emerging countries. Ricoh's collaboration with
IITGN began with RII's study of the application and validation of
advanced IT technologies in educational fields.  
"We are thrilled to promote Open Innovation in India by locally
researching solutions relevant to specific markets," stated Terumoto
Nonaka, Corporate Senior Vice President at Ricoh in charge of R&D.
"Becoming the founding industrial partner for the new
 Design and
Innovation Centre is a major step toward achieving this goal."  
"This partnership with Ricoh will enable the students and faculty of
IITGN to work with the colleagues from Ricoh in an inter-disciplinary
and an inter-cultural environment, which is most conducive for design
and innovation. We are excited with the opportunity and expect that
our relationship with Ricoh will grow in time as both sides start to
see the tremendous value of such a partnership. Moreover, we believe
that this is an interesting model of collaboration between an
academic institute and a large company, which may later be emulated
elsewhere," added Prof. Sudhir K. Jain, Director of IITGN. 
The newly established DIC will have both educational and research
functions. Full-time and part-time faculty, full-time technical
staff, and students will conduct research in a collaborative
environment. The following proposed research projects are under
consideration by Ricoh:  

--  IT applications and workflow in an Indian business environment
--  User interfaces for business devices
--  Design preferences in India and similar markets
--  Innovative new applications for Ricoh products in emerging markets

In addition, three representatives from the Ricoh Group will be invited
to join the center's Advisory Committee. The committee will consist
of academics from various disciplines who will review progress and
the direction of research. 
"There is an opportunity for innovative breakthrough when industry
and researchers from a variety of disciplines come together to solve
problems," stated Dr. Nikhil Balram, President and CEO of RII. "The
Design and Innovation Centre is groundbreaking in India for its
holistic approach to the whole process of creating new products and
services, with an eye toward advanced design." 
New solutions adopted in an emerging market may also yield
innovations in advanced countries, a trend known as reverse
innovation. Ricoh continues to aggressively promote Open Innovation
in India with these mid-and long-term goals in mind. 
About Ricoh 
Ricoh is a global technology company specializing in office imaging
equipment, production print solutions, document management systems
and IT services. Headquartered in Tokyo, Ricoh Group operates in more
than 200 countries and regions. In the financial year ending March
2012, Ricoh Group had worldwide sales of 1,903 billion yen (approx.
23 b
illion USD). 
The majority of the company's revenue comes from products, solutions
and services that improve the interaction between people and
information. Ricoh also produces award-winning digital cameras and
specialized industrial products. It is known for the quality of its
technology, the exceptional standard of its customer service and
sustainability initiatives. 
Under its corporate tagline, imagine. change. Ricoh helps companies
transform the way they work and harness the collective imagination of
their employees. 
For further information, please visit 
Image Available: 
Cate Thomassen
+1 (650) 496-5746 
Deborah Lamascus Hamilton
+1 (415) 273-9168 
Press spacebar to pause and continue. Press esc to stop.