In innovation—as in life—drive, size, and skill are a powerful combination. Drive to set an ambitious agenda and fund promising opportunities. Size to transform these opportunities into real sources of new revenue. And the skill, as embodied in a welltuned innovation system, to be able to do it over and over again. And the world’s most innovative companies have been getting bigger. The revenue of a typical “small” company on BCG’s 2020 list of the 50 most innovative companies is $30 billion— up more than 170% from $11 billion (in constant dollars) in our first survey in 2005.

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