Forbes on 24 August 2016 released the sixth annual list of The World's Most Innovative Companies 2016. The list ranked companies using an algorithm to measure investor enthusiasm.
The list is topped by Tesla Motors for the second consecutive year. Moreover, five major Indian companies including Asian Paints, Hindustan Unilever, Tata Consultancy Services, Sun Pharma and Larsen & Toubro have been ranked among other companies in the list.
Highlights of the list
• Tesla Motors tops the list for the second consecutive year, followed by Salesforce at the second position in the list.
• Regeneron Pharmaceuticals grabbed the third spot in the list, followed by Incyte at fourth place and Alexion Pharmaceuticals at fifth place.
• Innovation upstarts like Under Armour Inc. at sixth position and Monster Beverage Corp. at seventh position have dethroned former innovation leaders in their field like Nike and Coca Cola.
• Amazon.com fetched the eleventh spot in the list by outdistancing Walmart.
• Life science and biotechnology companies occupy half of the top ten spots on the list.
• Nine of the top ten companies on the list are US based.
Indian Companies on the List
• The list encompasses five Indian companies including Asian Paints, Hindustan Unilever, Tata Consultancy Services, Sun Pharma and Larsen & Toubro.
• At number 18, Asian Paints is the highest-ranked Indian company on the list, featuring on the list for the fourth time in a row.
• Hindustan Unilever fetched the 31st spot, Tata Consultancy Services got the 66th spot, Sun Pharmaceutical Industries ranked at 73rd position and Larsen & Toubro stood at 89th spot.
About The World’s Most Innovative Companies list
• The World’s Most Innovative Companies list demonstrates creative disruption and how new players come in, innovate and garner the attention of investors.
• It consists of firms that investors feel are most likely to come up with the next big innovation.
• The 100 companies ranked on the list are based on their creative disruption, potential for innovation and investor interest.
• To be included on the list, firms need seven years of financial data and 10 billion US dollars in market cap.
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What: List released by Forbes
When: 24 August 2016