Two Minnesota firms among top 50 'most innovative' in the world

Author:
Updated:
Original:

Two Minnesota firms are featured on an annual a list of the World's 50 Most Innovative Companies.

The Boston Consulting Group (BCG) has published its 2015 rankings of the companies who have proven to be fast adopters of technologies, and financing research and development.

St. Paul-based 3M is list at 40th, while Medtronic in Minneapolis (though its executive office is technically in Ireland, it's a Minnesota-founded company) came in at 42nd in a list topped by Apple and Google in 1st and 2nd, respectively.

3M gets several shout-outs during the BCG report, noting that the company – which counts Scotch, Post-It and Nexcare among its brands – is a "recurring member" on the list and is one of the firms that traditionally blazes a trail for later tech upstarts.

It highlights 3M's policy of allowing employees to spend up to 15 percent of their working time on their own projects, using company funds if necessary – a policy replicated by Steve Jobs at Apple and at Google.

Medtronic, meanwhile, is one of the world's leaders in electronic medical device and hospital supply companies, starting as a pioneer in technology to treat irregular heart rates in the 1950s and later becoming a worldwide player.

Its appearance in the rankings comes as the company on Thursday reported its most recent quarterly results, which show it made a $520 million profit on revenue of $7.06 billion, according to the Wall Street Journal.

Inc. reports that the rankings are compiled based on an international survey of 1,500 senior business executives. As well as its focus on innovation and research, firms also scored highly for the amount of dividends they return to investors.

Tech companies and car makers featured heavily, with Tesla, Microsoft and Samsung ranking 3rd-5th, while Toyota, BMW and Amazon are also in the top 10.

Next Up

Karl-Anthony Towns

Wolves-Grizzlies game off, KAT tests postive for COVID

The Timberwolves star was among several players that are dealing with COVID-related issues.

minnesota state fair

Planning for the 2021 Minnesota State Fair is underway

The fair suffered huge financial losses due to COVID-19, but organizers are moving forward with planning "different scenarios" for this summer.

Screen Shot 2021-01-15 at 2.16.44 PM

Heather Brown named as new WCCO 'This Morning' anchor

She will be joining Jason DeRusha on the CBS affiliate's Morning Show.

DPS John Harrington

DPS Commissioner: No credible threats to state Capitol, but ready if something arises

Local and state law enforcement officials have a plan in case a threat arises.

snow, slush (submitted photo, ok to use)

Here are snow totals from Thursday-Friday winter storm

It's a slushy mess in the metro, but snow did pile up in southern counties.

tim walz

Walz fury after report that government's COVID vaccine reserve is nonexistent

The Washington Post reported Friday that the Trump Administration has shipped out all the vaccines it has already, with none in reserve.

closed sign

What's open and closed in Minnesota on MLK Day 2021?

Local government offices will generally be closed on Monday.

BMTN 900x450 (8)

Company that falsely promised student loan forgiveness banned from MN

It's also been ordered to repay $11,499 in fees taken from Minnesotans.

covid-19, coronavirus

Here is Minnesota's COVID update for January 15

Hospitalizations are the lowest in Minnesota since October 25.

Sars-Cov-2

Osterholm: B117 COVID strain could become major issue in 6-8 weeks

The B117 variant is believed to be more easily transmitted.

Related

List of 'World's Most Innovative Companies' includes two in Minnesota

Forbes magazine has once again recognized St. Paul-based Ecolab and Golden Valley-based General Mills on this year's list of the “The World’s Most Innovative Companies." Ecolab ranks No. 31 and General Mills is 50th out of 100 global companies. Both Minnesota-based firms were on the magazine's 2011 list.

Two Minnesota breweries are among the "Best Brewers in the World"

Brooklyn Center-based Surly Brewing Co. was ranked No. 11 by RateBeer.com. Minneapolis Town Hall Brewery also made the list at No. 42. The top-100 rankings are based on user ratings and input.

General Mills, Securian, Medtronic among top places to work in IT

All three Twin Cities firms were named on Computerworld’s list of the "100 Best Places to Work in IT 2012." Golden Valley-based General Mills came in fourth, St. Paul-based Securian Financial Group ranked No. 10 on the list and Fridley-based Medtronic went from 23rd place last year to 99th this year.