Heerlen, NL, 04 Nov 2009 10:15 CET
Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in the Netherlands, today received the 2009 Outstanding Corporate Innovator Award from the Product Development and Management Association (PDMA) in recognition of its strategic commitment to Open Innovation. Considered to be one of the world’s most important innovation awards, the Outstanding Corporate Innovator Award recognizes organizations that demonstrate exceptional skill in continuously creating and capturing value through new product and service development.
Rob van Leen, Chief Innovation Officer of DSM, was presented this prestigious award at the annual PDMA International Conference held in Anaheim, California.
For the past 21 years, the PDMA’s Outstanding Corporate Innovator (OCI) Award selection process has provided a valued mechanism for identifying companies which create and capture value through innovation. DSM was selected from an impressive slate of global candidate companies for this year’s OCI Award, nominated by PDMA members.
The PDMA Outstanding Corporate Innovator Selection Committee indicated that they were particularly impressed with DSM’s strategic commitment to Open Innovation as a fundamental corporate strategy and source of competitive advantage, as well as DSM’s successful market driven innovation organization, processes and culture. Some of the other noteworthy elements mentioned were the use of a Business Incubator to boost radical innovation, the use of venturing, licensing and acquisitions to speed development and time to market and the willingness to exit basic businesses that are profitable but no longer consistent with the corporate strategy.
Rob van Leen gave the following comment: “I’m exceptionally proud of this award. It reflects the central role innovation has in DSM’s corporate strategy and the fact that innovation is embedded in all our business groups. It also confirms the effectiveness of our approach in creating sustainable growth for DSM and its stakeholders.”
Since the inception of the award, 41 firms have been recognized as Outstanding Corporate Innovators. Among past recipients of this award are companies such as Apple Computer, BMW Group, Corning, Eastman Kodak, FedEx, Harley-Davidson Motor Company, Herman Miller, Hewlett-Packard, Hunter Douglas, Nabisco, DuPont and Pepsi-Cola.
The PDMA is the premier advocate and comprehensive resource for product development and innovation professionals in the United States and abroad. The association is dedicated to improving the effectiveness of individuals and organizations in product development and management.
More than 3,500 members worldwide take advantage of the PDMA’s well-integrated combination of resources encompassing professional development, education, experience, networking, collaboration, certification and recognition. The organization publishes two acclaimed periodicals – Visions magazine and The Journal of Product Innovation Management – and holds numerous seminars and conferences each year.