INSEAD, a globally recognized school of business, recently released its Global Innovation Index rankings, with Switzerland at the No. 1 spot. This year's list represented a jump from its No. 4 ranking last year.
According to Soumitra Dutta, a business and technology professor at INSEAD, current global economic recovery efforts have placed an especially high premium on intellectual property, and helping developing businesses find value in their IP. Switzerland's No. 1 ranking demonstrates the nation's ability to foster growth through intellectual property in the last 12 months.
A further look at the list reveals that Nordic countries have worked especially hard and succeeded at fostering growth through intellectual property. Asian nations, such as Singapore and Hong Kong, also received high marks from INSEAD.
"Today, the whole world is talking about innovation in all forms, starting from industry to government to society," Naushad Forbes, an intellectual property and innovation expert, said in a relase. "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."