LED Linear named "Innovator of the Year 2013"
15 July 2013 11.30 BST
(Germany) - Start-up company receives prize from “Top 100” jury comprised of some of Germany’s best known managers and entrepreneurs.
The jury, which featured renowned business consultant, Prof. Dr. Roland Berger, were impressed by the rapid development of the company’s turnover.
Founded in 2006, LED Linear showed a growth in sales of 700% between 2008 and 2012, while the number of employees at the firm grew by 730%, a particularly impressive figure given the company only consisted of 6 employees in 2009.
Since participating in the Top 100 survey, the company’s pay roll has risen further, from 50 to 70.
Jury-member Manfred Gotta said of the award winning firm: “The company’s history almost sounds like an economic fairy tale: developing from a garage company into a driver of innovation.”
Gotta added: “It was not only the company’s convincing strategic master plan combined with distinctive entrepreneurial thinking that made this fairy tale come true, but also methodological competence and the construction of a large network of innovative partners.”
The Top 100 award is based on academic research conducted by Professor Nikolaus Franke and his team from the Institute for Entrepreneurship and Innovation at the Vienna University of Economics and Business.
This year 245 companies were considered, the findings being made available to the firms as a benchmarking report that reveals potential and provides practical tips.
Managing director of LED Linear, Carsten Schaffarz, said of the process: “This success is the result of a dedicated team performance of both management and staff and shows that we are heading in the right direction. We will use these results to further optimise our innovation management."
LED Linear is a tight-knit company, boasting a top-management team that works closely together with the heads of departments and a selection of business partners to further develop product ideas. 25% of 2012’s company turnover was achieved through the release of new products.
Managing director at LED Linear, Dr. Michael Kramer, said of his team’s work: “We are proud of having achieved, through our employees, a market share with an export ratio of up to 80% within a few years, with a brand which is both innovative and strong in design.”