Two Twin Cities Firms Recognized Among World’s Most Innovative
Two Twin Cities area businesses landed on a recent global list of the top 100 most innovative companies compiled by Thomson Reuters’ IP & Science business.
Maplewood-based 3M Co. and Fridley-based Medtronic Inc. made the cut, and a company that got its start in Minneapolis, Honeywell, also ranked among the world’s most creative.
Although United States firms have dominated the list in recent years, Japan took the mantle this time around: 46 of the fourth-annual list’s 100 companies are from the region.
The report recognizes organizations based on a series of patent-related metrics: overall patent volume, patent grant success rate, global reach of portfolio and patent influence evidenced by citations.
According to Thomson Reuters, this year’s top 100 companies generated the equivalent of $3.69 trillion in revenue last year and had an increase in research and development investment of more than double their NASDAQ counterparts.
“By focusing exclusively on quantitative analysis of global business' intellectual property portfolios, we are able to identify not only what companies are inventing the most, but also how aggressively they are protecting those inventions,” IP & Science President Basil Moftah said in a statement.
Medtronic, a medical technology giant, is moving ahead with plans to complete a $42.9 billion purchase of Dublin, Ireland-based surgical supplier Covidien in a deal that would shift Medtronic’s legal headquarters overseas. As it happens, Covidien also made Thomson Reuters’ list this year. Earlier this year, Medtronic also closed deals to buy a pair of European health technology firms.
For 3M, the ranking comes just two weeks after it led a Dow Jones Industrial Average surge following higher-than-expected third quarter profits.
Thomson Reuters' full list can be viewed here.