Most Innovative Countries in The World

Posted by | 26th July 2013 | Finland News

Despite the current global economy difficulties, there are countries which continue to focus on innovation, standing as a role model for the rest of the world.

According to the Global Innoovation Index in 2013 published by Cornell University, INSEAD – The Business School for the World – and the World Intellectual Property Organisation,  the most innovative country in the world is Switzerland. The index is published annually and measures economic inventiveness and the ability to remain globally competitive by being able to reform.

The top 10 places in the ranking were taken by the following countries in order: Switzerland, Sweden, United Kingdom, the Netherlands, the United States of America, Finland, Hong Kong, Singapore, Denmark and Ireland.

Finland drops 2 positions from 2012 ranking 6th this year but performed well when assessed for creation of new business models, government efficiency and technical know-how. The U.S. climbed back up to the top 5 for the first time this year since it last led the way in 2009. This year’s improved rank is a result of increased number of top ranked universities, increased technological investment and employment on top knowledge-intensive positions.

The General Director of WIPO (World Intellectual Property Organisation) – Francis Gurry – said that despite the tough economic global situation, countries are searching for dynamic innovation which is increasingly resulting in a multitude of innovative networks. These hubs are a major contributor to local development but also leverage global markets and talent.

This year, the index assessment had a new focus on local dynamics of innovation, an area which has remained over-looked in the last few years. It looked at 142 countries in the world and took into consideration 84 factors including the quality of university education, venture capital deals and availability of microfinance.

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