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Innovation Champions 2018. Germany’s most innovative ‘Mittelstand’ companies.
Munich Strategy has awarded Germany’s most innovative ‚Mittelstand‘ companies‘ – in cooperation with business magazine WirtschaftsWoche.
More than 3.500 German companies with an annual turnover between 10 m and 1 bn Euro were analyzed. The top 50 „Innovation Champions“ were identified based on a so-called innovation score, which is calculated based on the companies‘ performance and innovative strength. Performance criteria are revenue growth, profit margin and EBIT growth. Criteria for innovative strength include innovative drive, innovative reputation and R&D power.
Innovation Champions grow three times faster than average ‚Mittelstand‘ companies.
The study shows: the most innovative companies perform significantly better than average companies. The top 50 grow three times faster than the German ‚Mittelstand‘ and have also increased their profitability three times as fast.
Technology and mechanical engineering are the most innovative industries.
The technology sector leads the ranking with 17 ‚Innovation Champions‘, the mechanical engineering industry has reduced the gap and produces 10 champions – twice as many as last year. Munich Strategy has identified the increasing digitization of the industry and new data based business models as main innovation drivers.
Strategy innovations gain importance.
Many ‚Mittelstand‘ companies now have a more comprehensive understanding of innovation. They not only innovate their products or technologies but rethink their processes, services, sales models, price and marketing strategies and design ideas. 47% of the top 15 „Innovation Champions“ have implemented strategy innovations and show more sustainable returns compared to companies with a focus on product innovations.
Content of the study
Ranking of all 50 “Innovation Champions“ including their revenue growth and innovation score
Number of “Innovation Champions” per sales range
Performance comparison of average ‘Mittelstand’ companies vs. “Innovation Champions”
Number of “Innovation Champions” per region and industry
Analysis of types of innovation used by “Innovation Champions”