In the EconSight ranking, undertaken on behalf of the Handelsblatt newspaper, the group took the 28th spot among innovation champions in Germany.
In its current ranking list, the Swiss business research institute identifies the leaders in the race for digital penetration of future technologies and the companies that are decisively shaping the global innovation landscape.
The business model of Giesecke+Devrient is based on four pillars: products and solutions in connection with secure payment – whether in the physical, electronic or digital world – securing digital connections between people and machinery on the Internet, reliable and integrated identity solutions and protecting data networks and critical infrastructures against the abuse of data.
The basis for the solutions to protect payment transactions, identities, connectivity and data are state-of-the-art technologies, such as the Internet of Things (IoT), artificial intelligence, machine learning, biometry or blockchains.
Innovations occur when companies can reconcile digital solutions with established technologies. EconSight based its ranking of the most innovative companies on this aspect. Hence, the consulting company based in Bern, Switzerland, analyzed the patent database of Patentsight.
The Patent Asset Index takes into account both the number of actively protected inventions and their quality, in other words, the technical relevance and market coverage of the invention. Giesecke+Devrient is ranked No. 28 among the top 50 of German companies.
Four pillars in the innovation ecosystem of G+D
- In its innovation strategy, the Group pursues different avenues:
- In-house R&D: Classic research and development, embedded very specifically in the different business sectors of Giesecke+Devrient, still plays an important role;
- Acquisitions: The Group continues to expand its portfolio with strategic acquisitions in line with its core business;
- Investing in start-ups: Since the summer of 2018, G+D Ventures is Giesecke+Devrient's vehicle to actively engage in the venture capital market and invest in promising technologies, such as earlier this year in the deep-tech start-up Brighter AI;
- Own Incubation: With G+D advance52 the company has an independent unit for digitalization since May 2017, intended to act as a catalyst for new digital technologies and business models within the company. Advance52 is an incubator and accelerator.
"The transformation from the analog to the digital world, and the related opportunity and necessity to develop new digital business models, is crucial nowadays. Even if it sometimes means disruption at first or is perceived as competing with an existing business, companies must continuously develop and also explore new avenues. All activities contribute to securing and expanding our market position," added Michael Tagscherer, chief technology officer at the Munich based security technology group since July 2019.