Ranked: The World's Most Innovative Companies in 2021
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Ranked: The Most Innovative Companies in 2021

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Top 50 Most Innovative Companies 2021

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Ranked: the Top 50 Most Innovative Companies in 2021

This year has been rife with pandemic-induced changes that have shifted corporate priorities—and yet, innovation has remained a top concern among corporations worldwide.

Using data from the annual ranking done by Boston Consulting Group (BCG) using a poll of 1,600 global innovation professionals, this graphic ranks the top 50 most innovative companies in 2021.

We’ll dig into a few of the leading companies, along with their innovative practices, below.

Most Innovative Companies: A Breakdown of the Leaderboard

To create the top 50 innovative company ranking, BCG uses four variables:

  • Global “Mindshare”: The number of votes from all innovation executives.
  • Industry Peer Review: The number of votes from executives in a company’s industry.
  • Industry Disruption: A diversity index to measure votes across industries.
  • Value Creation: Total share return.

For the second year in a row, Apple claims the top spot on this list. Here’s a look at the full ranking for 2021:

 CompanyIndustryHQChange from 2020
1AppleTechnology🇺🇸 U.S.--
2AlphabetTechnology🇺🇸 U.S.--
3AmazonConsumer Goods🇺🇸 U.S.--
4MicrosoftTechnology🇺🇸 U.S.--
5TeslaTransport & Energy🇺🇸 U.S.+6
6SamsungTechnology🇰🇷 South Korea-1
7IBMTechnology🇺🇸 U.S.+1
8HuaweiTechnology🇨🇳 China-2
9SonyConsumer Goods🇯🇵 Japan--
10PfizerHealthcare🇺🇸 U.S.Return
11SiemensTechnology🇩🇪 Germany+10
12LG ElectronicsConsumer Goods🇰🇷 South Korea+6
13FacebookTechnology🇺🇸 U.S.-3
14AlibabaConsumer Goods🇨🇳 China-7
15OracleTechnology🇺🇸 U.S.+10
16DellTechnology🇺🇸 U.S.+4
17Cisco SystemsTechnology🇺🇸 U.S.-5
18TargetConsumer Goods🇺🇸 U.S.+4
19HP Inc.Technology🇺🇸 U.S.-4
20Johnson & JohnsonHealthcare🇺🇸 U.S.+6
21ToyotaTransport & Energy🇯🇵 Japan+20
22SalesforceTechnology🇺🇸 U.S.+13
23WalmartConsumer Goods🇺🇸 U.S.-10
24NikeConsumer Goods🇺🇸 U.S.-8
25LenovoTechnology🇭🇰 Hong Kong SARReturn
26TencentConsumer Goods🇨🇳 China-12
27Procter & GambleConsumer Goods🇺🇸 U.S.+12
28Coca-ColaConsumer Goods🇺🇸 U.S.+20
29Abbott LabsHealthcare🇺🇸 U.S.New
30BoschTransport & Energy🇩🇪 Germany+3
31XiaomiTechnology🇨🇳 China-7
32IkeaConsumer Goods🇳🇱 NetherlandsReturn
33Fast RetailingConsumer Goods🇯🇵 JapanReturn
34AdidasConsumer Goods🇩🇪 GermanyReturn
35Merck & Co.Healthcare🇺🇸 U.S.Return
36NovartisHealthcare🇨🇭 Switzerland+11
37EbayConsumer Goods🇺🇸 U.S.Return
38PepsiCoConsumer Goods🇺🇸 U.S.Return
39HyundaiTransport & Energy🇰🇷 South KoreaReturn
40SAPTechnology🇩🇪 Germany-13
41InditexConsumer Goods🇪🇸 SpainReturn
42ModernaHealthcare🇺🇸 U.S.New
43PhilipsHealthcare🇳🇱 Netherlands-20
44DisneyMedia & Telecomms🇺🇸 U.S.Return
45MitsubishiTransport & Energy🇯🇵 JapanNew
46ComcastMedia & Telecomms🇺🇸 U.S.New
47GETransport & Energy🇺🇸 U.S.Return
48RocheHealthcare🇨🇭 SwitzerlandReturn
49AstraZenecaHealthcare🇬🇧 UKNew
50BayerHealthcare🇩🇪 Germany-12

One company worth touching on is Pfizer, a returnee from previous years that ranked 10th in this year’s ranking. It’s no surprise that Pfizer made the list, considering its instrumental role in the fight against COVID-19. In partnership with BioNTech, Pfizer produced a COVID-19 vaccine in less than a year. This is impressive considering that, historically, vaccine development could take up to a decade to complete.

Pfizer is just one of four COVID-19 vaccine producers to appear on the list this year—Moderna, Johnson & Johnson, and AstraZeneca also made the cut.

Meanwhile, in a completely different industry, Toyota snagged the 21st spot on this year’s list, up 20 places compared to the rankings in the previous year. This massive jump can be signified by the company’s recent $400 million investment into a company set to build flying electric cars.

While we often think of R&D and innovation as being synonymous, the former is just one innovation technique that’s helped companies earn a spot on the list. Other companies have innovated in different ways, like streamlining processes to increase efficiency.

For instance, in 2021, Coca-Cola performed an analysis of their beverage portfolio and ended up cutting their brand list in half, from 400 to 200 global brands. This ability to pare down and pivot could be a reason behind its 20 rank increase from 2020.

Innovation Creates Value

As this year’s ranking indicates, innovation comes in many forms. But, while there’s no one-size-fits-all approach, there is one fairly consistent innovation trend—the link between innovation and value.

In fact, according to historical data from BCG, the correlation between value and innovation has grown even stronger over the last two decades.

Most Innovative Companies 2021

For example, in 2020, a portfolio that was theoretically invested in BCG’s most innovative companies would have performed 17% better than the MSCI World Index—which wasn’t the case back in 2005.

And yet, despite innovation’s value, many companies can’t reap the benefits that innovation offers because they aren’t ready to scale their innovative practices.

The Innovation Readiness Gap

BCG uses several metrics to gauge a company’s “innovation readiness,” such as the strength of its talent and culture, its organization ecosystems, and its ability to track performance.

According to BCG’s analysis, only 20% of companies surveyed were ready to scale on innovation.

Scaling Innovation

What’s holding companies back from reaching their innovation potential? The most significant gap seems to be in what BCG calls innovation practices—things like project management or the ability to execute an idea that’s both efficient and consistent with an overarching strategy.

To overcome this obstacle, BCG says companies need to foster a “one-team mentality” to increase interdepartmental collaboration and align team incentives, so everyone is working towards the same goal.

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The Top Downloaded Apps in 2022

Six of the top 10 most downloaded apps in Q1 2022 were social media apps, and four of them are owned by Meta.

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The most popular apps in Q1 2022, by number of downloads

The Top Downloaded Apps in 2022

Whether they’re providing a service like ride-sharing or acting as a mere source of entertainment, mobile apps have become an integral part of many peoples’ day-to-day lives.

But which apps are most popular among users?

This graphic uses data from a recent report by Sensor Tower to show the top 10 most downloaded apps around the world in Q1 2022 from the Google Play and Apple App Store.

Social Reigns Supreme

According to the report, total app downloads reached 36.9 billion in Q1 2022, a 1.4% increase compared to Q1 2021.

A majority of the top 10 most downloaded apps were social media platforms, with Meta and ByteDance owning six of the top 10.

RankAppCategory
1TikTokEntertainment
2InstagramPhoto and video
3FacebookSocial networking
4WhatsAppMessaging
5ShopeeShopping
6TelegramMessaging
7SnapchatPhoto and video
8MessengerMessaging
9CapCutPhoto and video
10SpotifyMusic

Meta’s four platforms on the list are Instagram, Facebook, WhatsApp, and Messenger, while ByteDance owns TikTok and video-editing platform CapCut.

Just outside the top 10 are Zoom and WhatsApp Business (yet another Meta-owned app).

TikTok’s Winding Road to the Top

In Q1 2021, TikTok exceeded 3.5 billion all-time downloads, becoming the fifth app (and the first non-Meta app) to reach this milestone. This is impressive considering the app has been banned in India as of June 2020. Prior to the ban, India accounted for 30% of TikTok’s downloads.

India’s not the only country that’s banned the use of TikTok. Pakistan has blocked TikTok multiple times because of concerns over “inappropriate” content. However, it’s worth noting that the bans in Pakistan only lasted a few days before being lifted, and currently, Pakistanis are able to access the platform.

Top 10 Highest Grossing Apps

TikTok isn’t just the most downloaded app in the world—it’s also the highest-grossing non-game app, based on Q1 2022 revenue from the App Store and Google Play:

RankAppCategory
1TikTokEntertainment
2YouTubePhoto and video
3Disney+Entertainment
4Google OneProductivity
5TinderLifestyle
6PiccomaBooks
7Tencent VideoEntertainment
8iQIYIEntertainment
9HBO MaxEntertainment
10LINE MangaEntertainment

TikTok generated an impressive $821 million in consumer spending in the last quarter. The video-sharing platform was the top-grossing app on the App Store, and the second-highest-grossing on Google Play, coming just after Google One.

While none of Meta’s platforms made it onto the top 10 list for gross revenue, these platforms make a ton of money that doesn’t necessarily flow through app stores. In 2021, Meta generated more than $117.9 billion in revenue, with over 97% of that coming from ads.

Growth’s on the Horizon

The pandemic had a massive impact on the app market.

In 2020, app spending on things like premium access, in-app purchases, and subscriptions surged by 30% year-over-year to reach $111 billion.

And while COVID-19 restrictions are easing in most places around the world, app spending isn’t likely to taper off anytime soon. By 2025, spending is expected to grow to $270 billion.

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Synthetic Biology: The $3.6 Trillion Science Changing Life as We Know It

The field of synthetic biology could solve problems in a wide range of industries, from medicine to agriculture—here’s how.

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How Synthetic Biology Could Change Life as we Know it

Synthetic biology (synbio) is a field of science that redesigns organisms in an effort to enhance and support human life. According to one projection, this rapidly growing field of science is expected to reach $28.8 billion in global revenue by 2026.

Although it has the potential to transform many aspects of society, things could go horribly wrong if synbio is used for malicious or unethical reasons. This infographic explores the opportunities and potential risks that this budding field of science has to offer.

What is Synthetic Biology?

We’ve covered the basics of synbio in previous work, but as a refresher, here’s a quick explanation of what synbio is and how it works.

Synbio is an area of scientific research that involves editing and redesigning different biological components and systems in various organisms.

It’s like genetic engineering but done at a more granular level—while genetic engineering transfers ready-made genetic material between organisms, synbio can build new genetic material from scratch.

The Opportunities of Synbio

This field of science has a plethora of real-world applications that could transform our everyday lives. A study by McKinsey found over 400 potential uses for synbio, which were broken down into four main categories:

  • Human health and performance
  • Agriculture and food
  • Consumer products and services
  • Materials and energy production

If those potential uses become reality in the coming years, they could have a direct economic impact of up to $3.6 trillion per year by 2030-2040.

1. Human Health and Performance

The medical and health sector is predicted to be significantly influenced by synbio, with an economic impact of up to $1.3 trillion each year by 2030-2040.

Synbio has a wide range of medical applications. For instance, it can be used to manipulate biological pathways in yeast to produce an anti-malaria treatment.

It could also enhance gene therapy. Using synbio techniques, the British biotech company Touchlight Genetics is working on a way to build synthetic DNA without the use of bacteria, which would be a game-changer for the field of gene therapy.

2. Agriculture and Food

Synbio has the potential to make a big splash in the agricultural sector as well—up to $1.2 trillion per year by as early as 2030.

One example of this is synbio’s role in cellular agriculture, which is when meat is created from cells directly. The cost of creating lab-grown meat has decreased significantly in recent years, and because of this, various startups around the world are beginning to develop a variety of cell-based meat products.

3. Consumer Products and Services

Using synthetic biology, products could be tailored to suit an individual’s unique needs. This would be useful in fields such as genetic ancestry testing, gene therapy, and age-related skin procedures.

By 2030-2040, synthetic biology could have an economic impact on consumer products and services to the tune of up to $800 billion per year.

4. Materials and Energy Production

Synbio could also be used to boost efficiency in clean energy and biofuel production. For instance, microalgae are currently being “reprogrammed” to produce clean energy in an economically feasible way.

This, along with other material and energy improvements through synbio methods, could have a direct economic impact of up to $300 billion each year.

The Potential Risks of Synbio

While the potential economic and societal benefits of synthetic biology are vast, there are a number of risks to be aware of as well:

  • Unintended biological consequences: Making tweaks to any biological system can have ripple effects across entire ecosystems or species. When any sort of lifeform is manipulated, things don’t always go according to plan.
  • Moral issues: How far we’re comfortable going with synbio depends on our values. Certain synbio applications, such as embryo editing, are controversial. If these types of applications become mainstream, they could have massive societal implications, with the potential to increase polarization within communities.
  • Unequal access: Innovation and progress in synbio is happening faster in wealthier countries than it is in developing ones. If this trend continues, access to these types of technology may not be equal worldwide. We’ve already witnessed this type of access gap during the rollout of COVID-19 vaccines, where a majority of vaccines have been administered in rich countries.
  • Bioweaponry: Synbio could be used to recreate viruses, or manipulate bacteria to make it more dangerous, if used with ill intent.

According to a group of scientists at the University of Edinburgh, communication between the public, synthetic biologists, and political decision-makers is crucial so that these societal and environmental risks can be mitigated.

Balancing Risk and Reward

Despite the risks involved, innovation in synbio is happening at a rapid pace.

By 2030, most people will have likely eaten, worn, or been treated by a product created by synthetic biology, according to synthetic biologist Christopher A. Voigt.

Our choices today will dictate the future of synbio, and how we navigate through this space will have a massive impact on our future—for better, or for worse.

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