Austria

Austrian Innovation

Austrian Innovation

"Hidden champions" as a term was first conceptualized and published in a German journal for business administration in 1990 by Hermann Simon, a German business professor and management consultant. The concept refers to highly sucessful companies, often market leaders in their respective fields and not known to a wider public. According to Simon, three criteria must be met in order to be considered a hidden champion; (1) the company either has to be positioned in the top three of the global market or take the top spot on its continent in terms of market share, (2) the company's revenue must not exceed $4 billion, and (3) the company must have a low level of public awareness.