Methodology for America’s Most Innovative Companies (2023)

America’s Most Innovative Companies honors the 300 companies transforming industries from the inside out. Innovation can spark in a multitude of ways: R&D teams who invent new products; efficient processes that pad a company’s bottom line; inspiring leaders who foster brainstorming and collaboration that lead to original creations. And innovation isn’t just a nice-to-have—nearly every company on this list posted revenue growth in the last three years.

Fortune partnered with market research and data company Statista to compile America’s Most Innovative Companies. The list is built on three pillars: product innovation, process innovation, and innovation culture.

The product innovation category evaluates a company’s products and services through an analysis of its IP portfolio and a survey of experts.

The process innovation category reviews all processes of a company, including sourcing, production, marketing, sales, and support, through a survey of employees and experts.

The innovation culture category measures how a company fosters a spirit of entrepreneurship and creativity internally and allows teams to implement new ideas through surveys with employees and experts.

Each category compiles a third of the overall score. The surveys were conducted between Aug. 16, 2022 and Dec. 23, 2022 and reached thousands of employees and experts, including management consultants, patent attorneys, recruiters, and HR experts.