EU member states make top ten

Six EU member states have ranked highly in a world innovation index.

The Global Innovation Index (GII) 2013 was compiled by the World Intellectual Property Organization, Cornell University in the United States and INSEAD. The sixth edition of the index placed Switzerland at the top, followed by EU member state Sweden. The UK came third, the Netherlands fourth and the United States fifth. Finland was ranked sixth on the list. Other countries to make the top ten were Denmark in ninth position and Ireland in tenth place.

Speaking about the results, the authors of the report said: “The results of the GII provide testimony to the global nature of innovation today. The top 25 ranked countries on the GII are a mix of nations from across the world – North America, Europe, Asia, Oceania and the Middle East. While high-income economies dominate the list, several new players have increased their innovation capabilities and outputs. On average, high-income countries outpace developing countries by a wide margin across the board in terms of scores; a persistent innovation divide exists.”

The GII assessed a total of 142 economies around the world, using 84 indicators including the quality of top universities, availability of microfinance, and venture capital deals, gauging both innovation capabilities and measurable results.

The GII is calculated as the average of two sub-indices. The Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars: institutions; human capital and research; infrastructure; market sophistication; and business sophistication. The Innovation Output Sub-Index captures actual evidence of innovation results, divided into two pillars: knowledge and technology outputs, and  creative outputs.

The GII has been published annually since 2007. You can read the full report here.