UC3M presents the results of the new edition of the Spanish Innovation Index
Apple, Balay, Cabify, Toyota and Zara are the most innovative companies
3/7/24
The Universidad Carlos III de Madrid (UC3M) presented the results of the new edition of the Spanish Innovation Index (ÍEI, in its Spanish acronym), in collaboration with Neovantas, which highlights the most innovative brands in 21 sectors of the Spanish market in 2023 according to consumers. At the event, awards were presented to the most innovative companies of the year, which went to Apple, Balay, Cabify, Toyota and Zara.
The event, held today at UC3M's Madrid-Puerta de Toledo campus, was attended by the Ministry of Science, Innovation and Universities' General Secretary for Innovation, Teresa Riesgo; UC3M's Deputy Vice-Rector for Innovation, Transfer and the Science Park, Mario Merino; the President of Neovantas, José Luis Cortina; and the Director of UC3M's Business Economics Department, Mercedes Esteban, among other authorities.
This ranking is prepared by UC3M's Institute for Business Development (INDEM, in its Spanish acronym), in collaboration with the consulting firm Neovantas. “The ÍEI is a very useful tool for companies, as it systematically collects perceived innovation from the consumers' point of view. The result is the annual rating and classification of the main business-to-consumer (B2C) companies operating in Spain according to different indicators, which makes it possible for us to know the relative attractiveness and loyalty of their customers,” explained INDEM Director, Lluis Santamaría, who was in charge of presenting this index at the event.
The event also featured a presentation on Behavioural Innovation by the director and partner of Neovantas, Juan de Rus, who has been actively involved in the ÍEI from the beginning. In his speech, he addressed the importance of behavioural economics in companies: “Based on the analysis and understanding of behaviour, the success of investment in innovation and entrepreneurship increases, as well as allowing products and services to be adapted to the current market, improving their perception index”, he pointed out.
Later, the head of the ÍEI, Lola Duque, a lecturer in the Business Economics Department, presented the results for 2023. The ranking's top company only had changes in 5 of the 21 sectors analysed, compared to the data from the previous edition of the study, “which is indicative of the stability and positioning marked in the Spanish consumers' perception of innovation”, she said. However, within each sector, there are dynamics regarding what consumers perceive. Specifically, “data analysis indicates that consumers place greater value on social and sustainable innovation than on digital innovation. Therefore, a major challenge for companies is finding the right balance between these two types of innovation in order to continue to be pioneers in the market”, he concluded. The event finished with a panel of representatives from the winning companies, consisting of Ikea, Balay and Ouigo, who shared their experience in the field of innovation.
This second edition of the ÍEI has been prepared using more than 23,000 surveys, analysing a total of 120 brands from 21 sectors of the Spanish market. The most innovative companies in each of the 3 sections (commercial, digital and social) were: Apple (commercial and digital), Toyota (social), Zara (Spanish commercial) Cabify (Spanish digital) and Balay (Spanish social). In addition, there was a special mention for the highest climber in the commercial ranking, which went to YouTube.
The following table shows the winning companies in each of the sectors analysed:
| Sector | Winning company |
|---|---|
| Airlines | Iberia |
| Food | Coca-Cola |
| Cars | Mercedes-Benz |
| Beers | Mahou |
| Insurance Companies | Mutua Madrileña |
| E-commerce | Amazon |
| Household Appliances | Bosch |
| Hotels and Tourist Accomodation | Airbnb |
| Gas, Electricity and other suppliers | BP |
| Technology Providers | Apple |
| Social Media | YouTube |
| Chain Restaurants | McDonald´s |
| Clothing and Footwear | Nike |
| Health Insurances | Sanitas |
| Delivery and Shipping Services | Glovo |
| Streaming | Netflix |
| Supermarkets | Lidl |
| Telecommunications | Movistar |
| Specialist and Department Shops | Ikea |
| Banks and financial services | ING |
| Passenger transport | Ouigo |
The INDEM Institute for Business Development is associated with UC3M's Business Economics Department and is the entity responsible (exclusively) for implementing the ÍEI. INDEM's mission is to promote, channel, coordinate and disseminate postgraduate research and teaching work related to business development, paying particular attention to contributing to research related to business innovation, taking an interdisciplinary approach. This work is carried out according to the criteria of transparency and excellence, in order to satisfactorily serve both the university community and the demands of the business and social environment. INDEM aims to be the link between its members and the business and social world, with a commitment to promoting and disseminating applied research to improve the efficiency and effectiveness of business activity.
Neovantas is an international management consultancy firm that provides a collaboration model with a strong analytical component with behavioural and results-oriented optics. For over 15 years, it has helped its customers to accelerate the achievement of tangible and significant results in income, costs and/or quality in a sustainable manner over time.
