Tuesday, July 3, 2012

Switzerland Retains First-Place Position in Innovation Performance

Today, INSEAD, the leading international business school, and the World Intellectual Property Organization (WIPO) released the Global Innovation Index 2012 (GII): Stronger Innovation Linkages for Global Growth. For the second year running, Switzerland, Sweden, and Singapore lead in overall innovation.

"The GII is a timely reminder that policies to promote innovation are critical to the debate on spurring sustainable economic growth," WIPO Director General Francis Gurry said. "The downward pressure on investment in innovation exerted by the current crisis must be resisted. Otherwise we risk durable damage to countries' productive capacities. This is the time for forward-looking policies to lay the foundations for future prosperity."

The list of overall GII top 10 performers has changed little from last year. In parenthesis is the score (0–100)

  1. Switzerland [68.24]
  2. Sweden [64.77]
  3. Singapore [63.47]
  4. Finland [61.78]
  5. United Kingdom [61.25]
  6. Netherlands [60.55]
  7. Denmark [59.93]
  8. Hong Kong (China) [58.72]
  9. Ireland [58.68]
  10. United States of America [57.69]

Canada is the only country leaving the top 10 this year, mirroring weakening positions on all main GII innovation input and output pillars. The report shows that the U.S.A. continues to be an innovation leader but also cites relative shortfalls in areas such as education, human resources (tapping of global talent) and innovation (research, patenting, and scientific publications) outputs as causing a drop in its innovation ranking.

Complementing the overall GII ranking, the Global Innovation Efficiency Index shows which countries are best in transforming given innovation inputs into innovation outputs. Countries which are strong in producing innovation outputs despite a weaker innovation environment and innovation inputs are poised to rank high in this "efficiency" index. Here is the ranking:

  1. China
  2. India
  3. Republic of Moldova
  4. Malta
  5. Switzerland
  6. Paraguay
  7. Serbia
  8. Estonia
  9. Netherlands
  10. Sri Lanka