3M celebrates innovation milestone

Tuesday, 17 June 2014 00:00 -     - {{hitsCtrl.values.hits}}

3M, the $ 30.8 billion global innovation giant, recently reached another innovation milestone with the issuance of their 100,000th patent. Fundamentally a diversified technology company 3M employs these patents to address a myriad of needs across industry segments. “We celebrate this important milestone, and honour all of the scientists whose inventions have contributed to the success of 3M and the products it brings to companies, homes, and people,” said 3M Sri Lanka Vice President Suren Rajanathan. In Sri Lanka these patents have been used to accelerate the advancement of Sri Lanka’s businesses as well as Sri Lankan lives. 3M Sri Lanka works with government agencies and private businesses across their five industries to improve work place safety, enhance road safety, advance core security for the country, help the apparel industry to compete on the world stage and provide quality healthcare to the people of Sri Lanka. “Our commitment to research and development allows us to deliver technology and products that meet the varying needs of our stakeholders,” said Rajanathan. This DNA of innovation is kept alive at every level of the company. Employees are encouraged to spend up to 15% of their time pursuing projects outside their scope of work. This 15% rule allows for fresh ideas to spread through the company and guarantees a steady stream of innovative solutions. Each year, about 3,000 patents are issued to 3M worldwide. These patents have applications in a wide range of industries as diverse as the company itself – ranging from health care adhesives and sterilisation products to consumer electronics to reflective traffic signs. 3M’s first patent was granted in 1924. The following year, former 3M Chairman of the Board William McKnight earned 3M’s second patent, which was issued for a handle for sandpaper. 3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $ 30.8 billion in sales, 3M employs about 88,000 people worldwide and has operations in more than 70 countries. 3M Sri Lanka, a fully owned subsidiary of 3M USA began its operation in 1994 and has since established itself in diverse industries such as Healthcare, Electro & Communication, Infrastructure, Construction, Apparel, Woodworking, Automotive Aftermarkets, Personal Safety & Security and Retail.