DuPont Recognized as ‘Outstanding Corporate Innovator’ for Market Back Approach to New Product Development and Commercialization
The leading global advocate for product development and innovation, the Product Development Management Association (PDMA) recognized DuPont today with its 2008 Outstanding Corporate Innovator award for the company’s efforts to convert new products and technologies into profitable revenue growth.
(Vocus) August 13, 2008
Wilmington, DE August 13, 2008 -– The leading global advocate for product development and innovation, the Product Development Management Association (PDMA) recognized DuPont today with its 2008 Outstanding Corporate Innovator award for the company’s efforts to convert new products and technologies into profitable revenue growth.
In 2007, DuPont commercialized over 1,200 new products with strong representation from all five growth platforms. New products commercialized over the last five years accounted for 36 percent of DuPont’s total revenue in 2007. More than $10 billion of the company’s $29 billion revenue came from products introduced since 2003.
“This Innovation award serves as a very prestigious recognition of our new product development and commercialization strategy,” said DuPont Senior Vice President and Chief Science & Technology Officer Uma Chowdhry. "We are proud of DuPont’s strong track record in delivering differentiated offerings to customers that have resulted in real revenue growth for DuPont."
“We are pleased to recognize DuPont as an organization that demonstrates an enterprise-wide commitment to innovation and is highly successful in the continuous development of profitable new products and businesses,” said Stan Jankowski, chair of PDMA’s OCI award selection committee and President of N. O.V. A Consulting Co.
DuPont was recognized by PDMA for the use of strong market-focused tools, training, and a disciplined innovation process to drive the company’s desired transformation. Two examples given were the creation of the five “growth platforms” to focus on white space opportunities and synergies between its individual business units as well as the creation of a new, disciplined market driven innovation process which stresses strong voice of the customer opportunity validation.
Thirty-nine firms have been recognized as Outstanding Corporate Innovators since the inception of the award in 1976. Among past recipients are: Affymetrix, Apple Computer, BMW Group, FedEx Corp., Harley-Davidson Motor Company, Herman Miller, Hewlett-Packard, Hunter Douglas, Mine Safety Appliance (MSA) Inc., Nabisco, and Pepsi-Cola.
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.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.