“For the second year in a row, the pharmaceutical industry leads with the number of companies present on the 2023 list, as an aging global population and the long tail of the COVID-19 pandemic are creating demand for new pharmaceutical therapies and products.”
The 2023 top 100 innovators have been revealed in the second annual Innovation Momentum Report, once again uncovering forward-thinking patent development and showcasing some of the most innovative companies—both big and small.
In an increasingly fast-paced and complex modern technological landscape, the report sheds light on the most promising and active players by looking at the dynamics of technology development over the past two years. This year, the list has 27 new entries, highlighting the constant evolution of the innovation landscape and the speed at which technology advances.
Supported by data analysis from LexisNexis® PatentSight®, the methodology behind the Innovation Momentum list is unique and objective, utilizing patent data as a transparent way to make innovation tangible to the public and bring clarity to the complexities of intellectual property.
Who is Leading the Innovation Race?
For the second year in a row, the pharmaceutical industry leads with the number of companies present on the 2023 list, as an aging global population and the long tail of the COVID-19 pandemic are creating demand for new pharmaceutical therapies and products. This provides opportunities for small players with innovative technologies, but also for large companies such as Amgen, Eli Lilly, and Moderna Therapeutics.
As the digital revolution continues to transform the way we live and work, the information technologies industry is also high on the list this year. The top 100 innovators include companies such as Alphabet, Google’s owner; Swedish telecoms company Ericsson; and Chinese technology and entertainment group Tencent.
The semiconductor industry—with big brands such as Intel and Qualcomm in the top 100 innovators—also benefits from technological transformation. Meanwhile, the climate crisis is providing a catalyst for the development of technologies ranging from energy storage to electric vehicles, all of which rely on semiconductors.
The strong position of the chemicals and materials industry in the top 100 innovators list reflects its role in providing the building blocks for so many other industries. Included are companies such as BASF, Firmenich, LG Chemical, Merck KGaA and Nitto Denko. The industry covers a wide variety of technologies, from batteries and construction materials to glass, food flavors, and oil and gas exploration and refinement.
Today, innovation is the lifeblood of successful organizations. In the 2023 Innovation Momentum report, the entry of new companies to the Top 100, in combination with the shifting positions of the different industries represented, presents a landscape that is continually evolving. And with change constantly around the corner, it is hard to predict where we will see creative ingenuity appear next.
But using the power of patent analytics, we can track innovation momentum with objectivity and accuracy. And as the report demonstrates, one thing is certain: in addressing adversity, turning disruption into opportunity, and creating the building blocks for better lives, there is no shortage of innovators who are ready to generate value both for their businesses and for the wider world. Every organization in the Top 100 is making a vital contribution to human development, whether that is extending healthy lives or providing the building blocks for essential infrastructure.
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3 comments so far. Add my comment.
AnonFebruary 4, 2023 06:08 pm
Lab and Josh — great points.
Josh MaloneFebruary 4, 2023 04:10 pm
@editor — who funded this study?
Lab JedorFebruary 4, 2023 12:48 pm
That looked promising. A methodology to quantify innovation. The above article itself does not disclose how it is measured.
The related website says LexisNexis uses: “… two metrics: Technology Relevance, or the potential to lead to further inventions, and Market Coverage, the size of the global market a patent family protects. ”
That indicates a bias towards large companies operating in large markets. But OK, perhaps the other metric. “The potential to lead to further inventions.” That is fantastic. That is a great criterion for the USPTO to evaluate the quality of a patent based on the new technology it teaches. (which of course should be the true measure of patent quality. Not if it complies with all kinds of bureaucratic requirements and minutiae, which are secondary to the purpose of innovation.)
A Google search found that LexisNexis actually means: “Technology Relevance measures whether a patent has been more often cited than other patents from the same technology field and year. The total number of patent citations received not only depends on the relevance of the patented invention, but also on the time that has passed since the patent was published. ”
What a let-down. It seems to reflect the whole current patent system. A patent is of high quality or of importance, after it was proven to be of importance. (and then they still invalidate it. But it is used forever as prior art.)
Everything is predictable and everything is obvious. And only the important companies are of importance.
I understand that in the scheme of things, metrics may be of importance. But to claim “Who is Leading the Innovation Race?” is over the top. The article should say: who in Big Tech has the most patents that they all recite among themselves.