There are three types of innovation: near-term, medium-term, and long-term. Near-term innovation occurs within current market limitations. Medium-term innovation is exemplified by disruption, where solutions enter the market, change the nature of its operation for a short period of time, and then disappear. The transformational innovations that occur in the long-term are those that have the most profound and long-lasting impact. They operate in the present—perhaps still in startup mode—but are hard to spot and even harder to assess.
This report looks at those companies at the forefront of transformational innovation, particularly those that are: