Masterflex : among the 50 most innovative medium-sized German businesses

Masterflex Group is one of the 'Innovation-Champions 2015'

With an innovation score of 132, the Masterflex Group enjoys 32nd place in the 'Innovation Champions 2015' rankings, putting it firmly in the top 50 medium-sized German businesses in terms of innovation. This is according to a study by the consulting firm Munich Strategy Group (MSG) on behalf of the weekly German business magazine WirtschaftsWoche. 'We are of course delighted about this ranking by a neutral party. We also feel that it confirms our approach of focusing on innovative products and processes and at the same time developing our innovations step by step, always checking whether they will be marketable,' says Dr Andreas Bastin, CEO of the Masterflex Group. 'After all, as SMEs, we must deal head on with the risks entailed in an innovation process.'

In the first stage of establishing the innovation ranking, taking place between February and July 2015, the MSG consultants analysed the data of 3,300 German companies with a turnover of between ten million and one billion euros. A second stage identifying the 50 most innovative companies from the 400 remaining SMEs in a detailed analysis based on individual innovation scores. To do this, the MSG analysed annual reports and presentations and talked to industry experts, customers, development leaders and managing directors of the companies. Two thirds of the criteria for the innovation score were based on innovation dynamism (the company distinguishes itself through continuous innovations), innovative reputation (the company is deemed as innovative by the market and competitors) and innovation leadership (the company leads the pack when it comes to innovation). One third of the assessment criteria looks at economic indicators like turnover and profit growth.

The Masterflex Group develops and manufactures high-tech hoses and connection systems for numerous applications in industrial and commercial situations. Its special hoses are designed for connections that must withstand very demanding technical requirements. This includes transporting highly abrasive loose solids, corrosive gases or very hot exhaust air, as well as germ-resistant or food-safe connections. The aerospace sector requires very lightweight, yet highly rigid and non-flammable connecting parts, while medical applications depend on 100% sterile and precisely fitting connections in the smallest of sizes. Given these strict requirements, the company also offers a comprehensive consulting service. In 2014, the Masterflex Group achieved a turnover of 62 million euros.

'Innovation Champions translate their innovative power into results in the form of strong growth, profitability and dominance among competitors. They have a clear innovation strategy and innovation processes that are firmly anchored in the fabric of the company,' says MSG-founder Sebastian Theopold.