Companies to share innovation lessons at annual Product Development and Management Association (PDMA) Conference
The Product Development and Management Association (PDMA), the leading advocate and comprehensive resource for product development and innovation, today announced that it has awarded the 2014 Outstanding Corporate Innovator (OCI) Award to Danish bioinnovation firm Novozymes and Seattle-based Starbucks. The companies were chosen for corporate commitment to innovation as a strategy to grow their businesses.
The OCI Award is the only innovation award which recognizes sustained (5 or more years) and quantifiable business results from new products and services. Including Starbucks and Novozymes, there have been 51 organizations to be granted the OCI Award since its inception in 1988. Past winners have included Clorox, FedEx, Xerox, DuPont and Harley Davidson.
“Despite the diversity in industry the two 2014 winners have both created cultures where innovation is valued and entrepreneurship and risk taking are encouraged,” said Sally Evans Kay, Chair, OCI Selection Committee. “Both have developed unique practices and processes which have contributed to their innovation success and which they will share at PIM---a rare ‘under the hood’ look at successful corporate innovators.”
Novozymes is a world leader in bioinnovation with a track record of consistently developing and launching breakthrough biosolutions for many different industries. In recent years their market share has grown from 40 percent to 48 percent.
The Committee recognized how Novozymes collaborates with Global Strategic Accounts and uses extensive open innovation networks to develop and launch breakthrough new products. The approach to innovation at Novozymes provides many potential learning opportunities for the innovation community.
“Novozymes builds on innovation. During recent years we have achieved significant results, for example biotechnological solutions which enable washing at low temperature and conversion of cellulosic biomass for production sustainable bioethanol,” said Per Falholt, head of research and development at Novozymes. “Receiving the prestigious Outstanding Corporate Innovator award from PDMA is validation for us that our dedication to true innovation not only furthers our business, but can serve as an example for corporations around the world.”
Starbucks was cited for innovation across the entire consumer experience and its strong emphasis on long-term platforms to create a multi-year pipeline. The OCI committee cited Starbucks willingness to adopt processes such as its System to Accelerate Results (STAR) and deep dives at the front end of the innovation process as key enablers to help test and measure new products and gauge customer interest. Starbucks has also achieved strong and sustained growth from platforms built upon equipment and technology advantages --- examples include Starbucks® Frappuccino® Blended Beverages, Starbucks Refreshers® Beverages, Starbucks VIA™ Ready Brew and Starbucks Fizzio™ Handcrafted Sodas.
“We are honored to receive such a prestigious award that recognizes companies for encouraging innovation as part of their culture,” said Mary Wagner, Starbucks senior vice president of Global R&D/Food Safety, Quality and Regulatory. “Innovation continues to be a core strength and we’ll continue to leverage our internal processes to test and deliver break-through products, ultimately enhancing the overall customer experience.”