INSEAD Global Innovation Index

5 Jul 2011 Sandeep Mehta

INSEAD just announced its 2011 Global Innovation Index (Or an interview here).  Here are top 10:

  1. Switzerland
  2. Sweden
  3. Singapore
  4. Hong Kong (SAR)
  5. Finland
  6. Denmark
  7. United States
  8. Canada
  9. Netherlands
  10. United Kingdom

Here is how this index is computed:

The Global Innovation Index is computed as an average of the scores across inputs pillars (describing the enabling environment for innovation) and output pillars (measuring actual achievements in innovation). Five pillars constitute the Innovation Input Sub-Index: ‘Institutions,’ ‘Human capital and research,’ ‘Infrastructure’, ‘Market sophistication’ and ‘Business sophistication’. The Innovation Output Sub-Index is composed of two pillars: ‘Scientific outputs’ and ‘Creative outputs’. The Innovation Efficiency Index, calculated as the ratio of the two Sub-Indices, examines how economies leverage their enabling environments to stimulate innovation results.

May be US does indeed need to invest more in innovation, but US already has the largest R&D budget in the world.  May be we need to think of something new?

Dr. Naushad Forbes, Chairman of the CII Innovation Council 2011-12 and Director of Forbes Marshall commented: ‘Today the whole world is talking about innovation in all forms starting from industry to government to society. After the recent economic slowdown the focus has shifted clearly towards the developing regions not only in terms of a booming potential market but also a hot spot for frugal innovations. Measuring this shift is important to know how we are doing, the GII is a starting point to do that and unquestionably in the right direction.’

Here is the NSF Innovation Survey if you want more…

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