Innovation Asset Blog

Global Innovation Index underscores different paths to progress

Earlier this month, the World Intellectual Property Organization, INSEAD and Cornell University jointly released the 2013 edition of their Global Innovation Index. One of the most significant themes highlighted in the latest iteration of the study was the sheer diversity of strategies employed by countries attempting to better themselves in the innovation economy.

"Dynamic innovation hubs are multiplying around the world despite the difficult state of the economy. These hubs leverage local advantages with a global outlook on markets and talent," WIPO director Francis Gurry explained. "For national-level policy makers seeking to support innovation, realizing the full potential of innovation in their own backyards is often a more promising approach than trying to emulate successful innovation models elsewhere."

As Intellectual Property Watch noted, Switzerland and Sweden (the two top-ranking countries) were the only nations to reside in the top 25 rankings across all seven subcategories which comprised the overall index. More frequently, countries relied upon specialized qualities or talent in a certain area to propel them toward the top of the table.

The United States, for example, was able to rejoin the top 5 for the first time since 2009 on account of its superior higher education system and an influx of investment in the software industry. Conversely, Finland's exemplary development and application of new business models helped the comparatively small Scandinavian country come in just one spot below the U.S. in the cumulative rankings.

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.