The company joins an exclusive group of prize winners and is receiving the award at the German SME Summit in Essen
Animal feed specialist DOSTOFARM GmbH is being honored today as one of Germany’s most innovative SMEs at the German SME Summit in Essen. The Westerstede-based company joins an exclusive group of prize winners dating back more than 20 years. Top 100 mentor, Ranga Yogeshwar awarded the Top 100 seal of approval. The award to Dostofarm is the outcome of a two-stage analytical procedure by a team of research scientists.
Dostofarm’s senior management is the driving force behind its new developments. The company showed foresight at an early stage, entering the natural feed additives market more than 15 years ago. Natural feed additives are used to improve health and performance among livestock, and Dostofarm is a specialist provider of oregano-based products for animal food and husbandry. This active ingredient renders the prophylactic administration of antibiotics unnecessary, thus avoiding problems related to the development of resistance. “As a result, we help people and animals in equal measure,” explains executive director Reiner Mecking.
“Our large number of global contacts allow us to pick up innovative ideas at an early stage and incorporate them into our products and marketing,” adds executive director Thomas Logemann. Strategic partnerships with other companies allow Dostofarm to operate in large markets.
The company, which was founded in 1999, has already established itself in this growth market nationally and internationally. “We always want to be the first to the market with our products, as that is how we can stay ahead of our competitors,” comments Logemann. Dostofarm grew its revenues by 50 percent between 2012 and 2014, and its development of new markets will boost sales further. The company was also registered as a food manufacturer in 2014, meaning that people, as well as animals, may soon be able to enjoy the beneficial effects of oregano oil.
“Generating good ideas and implementing them quickly is an important competitive factor for us,” commented Mecking. “This is why we invest a lot of time and money into managing innovation. In doing so, we are relying on the creativity and inventiveness of all of our employees. I should like to extend our heartfelt thanks to them for helping us win this Top 100 award.” The accolade is awarded on the basis of a two-stage analysis developed by Nikolaus Franke, Professor of Entrepreneurship and Innovation at the Vienna University of Economics and Business Administration, and his team. The decision as to which companies ultimately receive the Top 100 award lies exclusively with the academic coordinators (research scientists) of the project.
The Top 100 are outstanding in every respect: this year’s crop includes 71 domestic market leaders and as many as 31 global market leaders. In the last three years, the top innovators have together applied for a total of 3,405 German and international patents. Nearly 41 percent of their recent revenues came from new products and innovations, which they brought to the market before their competitors (average of all SMEs in Germany: 6.6 percent). This success is no accident; the top innovators invest an average of 10.5 percent of revenues in research and development (average of all SMEs in Germany: 1.5 percent). Two thirds of the Top 100 are family businesses.