Switzerland ranked world’s ‘most innovative’ country
Switzerland took the spot as the world’s most innovative country in 2018, according to the World Intellectual Property Organization.
The finding, which is part of WIPO’s 2019 edition of the Global Innovation Index (GII) was revealed in India yesterday, July 24.
Sweden was in second place, followed by the US and the Netherlands. The UK, in fifth, saw it drop one place on the year before.
Switzerland regained first place for the second year running, while the US jumped three places up the leaderboard.
According to WIPO, the GII is a “global benchmark that helps policy makers better understand how to stimulate and measure innovative activity”.
The 2019 edition ranked 129 economies based on 80 indicators including research and development investments and international patent and trademark applications.
The index also considered economic context, finding that despite signs of slowing economic growth, “innovations continue to blossom, particularly in Asia”.
WIPO’s director, Francis Gurry, said the GII shows that countries that “prioritise innovation in their policies have seen significant increases in their rankings”.
“The rise in the GII by economic powerhouses like China and India have transformed the geography of innovation and this reflects deliberate policy action to promote innovation,” he said.
The GII also provided insight into innovation in economies across the world.
One example was that progress and innovation “remains slow” in Latin America and the Caribbean.
WIPO said the GII shows that “the region’s innovation potential remains largely untapped despite incremental improvements and encouraging initiatives”.
It said the top three economies for innovation in the region are Chile, followed by Costa Rica and Mexico.
According to WIPO, India maintains its top place in the Central and Southern Asia region and as the 52nd most innovative economy out of the 129 that were ranked.
“From 81 in 2015, India’s 29-place move up the GII represents the biggest jump by any major economy,” WIPO said.
“Thanks to its high-quality scientific publications and universities, India remains 2nd among middle-income economies in the quality of innovation,” it added.
First place among middle-income economies was given to China, which WIPO said had “continued its upward rise in the GII, firmly establishing itself as a world innovation leader”.
It said China “achieves top ranks in patents, industrial designs and trademarks by origin, as well as high-technology and creative goods exports”.
The index also raised concern about public research and development expenditures in high-income economies, which it said “are growing slowly or not at all”.
“This raises concerns given the public sector’s central role in funding basic R&D and blue-sky research, which are key to future innovations,” WIPO said.
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