Cloud computing firm Salesforce.com has taken the top spot in Forbes’ top 100 list of the world’s most innovative companies. Salesforce.com joins other tech multinationals with a presence in Ireland who have ranked on the roster.
Salesforce.com has offices in Sandyford, Dublin. Other companies who have offices in Ireland that have made it onto Forbes’ list are e-commerce giant Amazon.com (No 7), internet search giant Google (No 47), software company Citrix Systems (No 50), health products producer Covidien (No 67), enterprise software maker SAP (No 72), and consumer tech giant Apple (No 79).
Forbes compiled its World’s Most Innovative Companies list by “using the wisdom of the crowd”.
Forbes contributors Jeff Dyer and Hal Gregersen explain that Forbes’ method relies on investors’ ability to identify firms they expect to be innovative now and in the future.
“Companies have been ranked by what Forbes calls their innovation premium, which is the difference between their market capitalisations and a net present value of cash flows from existing businesses (based on a proprietary formula from HOLT/Credit Suisse). The difference between the two factors is the bonus given by equity investors on the educated hunch that the company will continue to come up with profitable new growth.”
To be included on Forbes’ list of the World’s Most Innovative Companies, the company needs seven years of public financial data and US$10bn in market cap.
The top 10 companies on Forbes’ list of the World’s Most Innovative Companies:
2. Alexion Pharmaceuticals
4. Regeneron Pharmaceuticals
5. ARM Holdings
8. Intuitive Surgical
10. Natura Cosmeticos
Innovation concept image via Shutterstock