The National Confederation of Industry (CNI) and the Brazilian Support Service for Micro and Small Companies (Sebrae) announced on March 8 the results of the seventh edition of the National Innovation Award, sponsored by the Funding Authority for Studies and Projects (Finep).
WEG was honored with the Award in the Innovation Management – Large Company category. This is the largest innovation award in the country, promoted to encourage and recognize the efforts of organizations with operations in Brazil.
Intended for industrial companies and small businesses from all sectors and innovation ecosystems around the country, the Award had 11,300 applicants. From this number of applicants, forty-four organizations were finalists, and fifteen companies that had three innovation ecosystems projects were recognized.
The award’s evaluation methodology followed an international standard and was updated according to the new guidelines of the fourth edition of Oslo Manual. The registered organizations underwent stages of evaluation, validation (in this virtual edition), and judging panels to be selected as finalists and winners.
From WEG’s Global Director of Engineering and Technological Innovation, Rodrigo Fumo, “It is a great honor to receive recognition for the research, development and innovation work that has been carried out by WEG continuously, even at challenging time periods such as this pandemic. In recent years, WEG has invested an average of 2.7% of its revenue in research and development initiatives. In 2021, 55.7% of the company’s revenue was generated with products developed within five years. Ranked among the most innovative companies in Brazil is the recognition of a global joint effort including employees, partners, customers and suppliers dedicated to innovation.”