Elco Industrie Automation GmbH receives TOP 100 label
TOP 100 is Germany’s most important innovation competition. Each year, companies from various branches get honored with the TOP 100 label, and thus, they get an acknowledgment of their forward-looking innovation management.
What is the TOP 100 competition?
The core piece of the TOP 100 innovation competition is a scientific selection procedure that all participating enterprises have to pass. To make sure that all candidates have equal chances, the label is awarded in three different size categories: Class A includes German mid-sized companies with up to 50 employees, enterprises with 51 to 200 workers are assigned to Class B and everything beyond (organizations with more than 200 employees) starts in Class C.
How strongly is a company focused on innovation? How consistently does its structure follow this goal? At TOP 100, ELCO is investigating that, explains Prof. Dr. Nikolaus Franke, scientific director of TOP 100. The most innovative medium-sized companies receive the label. It shows that they are excellently prepared for future challenges.
The competition focuses on the strengths and achievements of a company that are allocated to five different categories. They include:
Innovation promoting top management
Innovative climate
Innovative processes and structure
Outer orientation / Open Innovation
Innovation success.
On behalf of the compamedia GmbH, promoters of the competition, the innovation investigator Prof. Dr. Nikolaus Franke, and his team took a closer look at Elco Industrie Automation GmbH on the basis of more than 100 innovation indicators.
The critical selection criterion for handing over the label is how future-oriented a company’s innovation management really is and how it fits its strategic orientation. Is progress only a product of chance? Or are they planned and therefore repeatable? Special priority also lies in how new products and product improvements establish themselves on the market. All in all, 436 enterprises had made an application and 294 of them were successful which means that they count as this year’s TOP 100 (with a maximum of 100 awards per size category).
Elco participation in the TOP 100 competition
The Elco Industrie Automation GmbH became a top innovator for the first time. The company is a specialist when it comes to automation technology and focuses on sensor technology, encoder technology, and connectivity solutions. True to the topic of the competition – innovation – Elco is known for progress and a holistic offer. Elco’s objective is to support companies worldwide by implementing automated and intelligent manufacturing processes. That way, they are able to increase their environmental friendliness and their economic efficiency. The focus is pleased customers, not profit at any price.
Elco’s team pays close attention when it comes to requirements and cost-benefit ratios for medium-sized companies. The staff works with the client’s existing machines, systems, and devices, they maximize their efficiency and work out a fitting digitization strategy. Elco’s motto: networking existing systems instead of replacing them.
For this purpose, Ralf Matthews, CEO of Elco, made a fitting statement: Innovation starts at the point where Elco stops doing what everyone else does. Where you run out of ideas, Elco's possibilities have barely started.
Elco is TOP 100!
Elco is happy that Elco is now part of the TOP 100 most innovative enterprises in Germany. That is a major success for Elco but it is also a confirmation that with the progress Elco has made so far and with the targets, Elco had taken the right choice. The fact that Elco became part of the TOP 100 community, Elco mainly owes Elco employees. They carry the spirit of Elco out to the world and each and every day they contribute to the evolution of the company.
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