Switzerland has once again been ranked the most innovative country in the world, according to the 2023 Global Innovation Index (GII) published by the World Intellectual Property Organization (WIPO). This is the 13th consecutive year that Switzerland has topped the GII.
What Does the GII Look Into When Ranking Performances?
The GII is an annual report that tracks innovation performance in over 130 countries and territories around the world. The GII is based on 80 indicators, which are grouped into seven pillars:
- Institutions
- Human capital and research
- Infrastructure
- Market sophistication
- Knowledge and technology outputs
- Creative outputs
- Business sophistication
The GII measures innovation performance across a range of indicators, including investment in research and development, the number of patents filed, and the quality of higher education. Switzerland excels in all of these areas, and it is also home to a number of world-leading companies in industries such as pharmaceuticals, biotechnology, and engineering.
In addition to its strong performance on traditional innovation indicators, Switzerland is also a leader in emerging technologies such as artificial intelligence and blockchain. The country is home to a number of startups and research institutions that are developing innovative new products and services in these areas.
Countries Ranking as Top Ten
The top 10 most innovative economies in the world in 2023 are:
- Switzerland
- Sweden
- United States
- United Kingdom
- Singapore
- Republic of Korea
- Finland
- Netherlands
- Germany
- Denmark
“Switzerland’s success in innovation is a testament to the country’s strong commitment to research and development, its well-educated workforce, and its supportive business environment” – said WIPO Director General, Daren Tang – “Switzerland’s continued leadership in innovation is an inspiration to other countries around the world”.
Switzerland’s success in innovation is due to a number of factors, including its strong commitment to education and research, its supportive business environment, and its culture of innovation. The country’s government invests heavily in education and research, and it has created a number of policies and programs to support startups and small businesses. Switzerland also has a strong culture of innovation, which is evident in the country’s high level of patent filings and its many successful startups.
Switzerland’s top ranking on the GII is a testament to the country’s commitment to innovation and its focus on creating a supportive environment for businesses and entrepreneurs. Switzerland’s success in innovation benefits not only its own economy, but also the global economy. Swiss companies are at the forefront of many emerging industries, and they are developing new products and services that are having a positive impact on people around the world.
Source : Lexology