Innovation comes in many forms. People often associate innovation with tech companies, but a smokeless fire pit is also a big innovation. Two companies from the outdoor cooking industry were recognized this year on Fast Company’s List of Most Innovative Companies.
Criteria
The 2024 List of Most Innovative Companies features 606 different organizations across many categories. They are judged by a panel on a number of criteria.
- Innovation: Does the company have a clear innovation (or innovations) and did it demonstrate how this innovation sets it apart from other companies and general current industry trends? Examples of innovations can include: products, services, a new business model, a strategic acquisition that signals a reimagining of the business, etc.
- Impact: Did the innovation have a clear, measured impact on the company and its industry? Did the company show how it has measured the impact of its innovation and provide data as evidence of its success? Examples of data can include: revenue, revenue growth, user growth, impressions, qualitative impacts on culture or industry, etc.
- Timeliness: Did the innovation happen within the past 12 months? Or—if the innovation is older—did the company provide evidence of meaningful iterative advances this year and how the impact from the innovation has been realized in the past 12 months?
- Relevance: As much as possible, did the company explain how the innovation connects to current events or larger issues faced by industry or society.
Traeger
Going back to last year, Traeger has released two new grills. The Flatrock marked a departure from pellet fuel and their first foray into griddles. It was well received when it came out, and helped usher in the premium griddle segment.
They also released their redesigned Ironwood pellet grill, which features a touchscreen display, more smoke, and an easy ash cleanout. Many of the features that made the Timberline a success trickled down to this model.
Beyond grills, their biggest success through economic headwinds has been with their MEATER wireless thermometers. They released the MEATER 2 Plus last fall which has a best in class temperature range.
Solo Brands
Much of Solo Brands‘ innovation over the past year has come through acquisition. They are most known for their Solo Stove smokeless fire pit, but they expanded inside the home and with more outdoor lifestyle brands.
We are truly honored to be recognized by Fast Company as one of the Most Innovative Companies, especially within the Consumer Goods category. This acknowledgment underscores our unwavering commitment to innovation, a cornerstone of our company’s ethos and growth strategy. Standing among brands that are driving the future of their industries with forward-thinking products and strategies fills us with immense pride. This recognition reflects the dedication and passion of our team, whose relentless pursuit of excellence propels our success. We are grateful for this award, which reaffirms our standing as a leader in our field and inspires us to continue pushing boundaries and delivering exceptional value to our consumers.
Chris Metz, President and CEO of Solo Brands
They added TerraFlame through acquisition, which makes a small gel fueled fire pit that produces no smoke and can be used indoors. To make being outside more comfortable, Solo Brands also added the IcyBreeze brand of portable air conditioners to their portfolio.