Bloomberg has revealed its Innovation Index. When you think about the most innovative countries, the U.S. and South Korea often come to mind. But what about Iceland or Iran? How do they compare?
Bloomberg Rankings recently examined more than 200 countries and sovereign regions to determine their innovation quotient. The final universe was narrowed down to 96 and again to 50. Here is the top 10: 10. France, 9. Denmark, 8. Austria, 7. Singapore, 6. Japan, 5. Sweden, 4. Finland, 3. Germany, 2. South Korea, 1. United States. Interestingly, the BRIC countries did not feature in the top 10 and only two made it into the top 50, Russia at 14, and China at 29.
Innovation was measured by seven factors, including R&D intensity, productivity, high-tech density, researcher concentration, manufacturing capability, education levels and patent activity.
Sources: Bloomberg, World Bank, World Intellectual Property Organization, Conference Board, OECD, UNESCO