Every year a three-way consortium from Cornell University, The Business School for the World and the World Intellectual Property Organisation publish their Global Innovation Index to rank national economies in terms of their innovation performance. In 2013, and for the first time, Australia appeared in the Top20 most innovative economies, ranking 19th out of 142 countries surveyed. This annual study uses 84 diverse indicators to compile an index for each participant and establish their relative standing.
And which country is the most innovative? Well, Switzerland is first followed by Sweden, Britain, Netherlands and USA to round out the Top5. In our region Hong Kong was 7th, Singapore 8th and New Zealand came in 17th. Perhaps not surprisingly it is higher-income economies that dominate the list and generally outpace developing countries.
If past year measures are analysed, there is a consistent theme where the Top20 or so economies maintain their high grouping even if they might experience minor movements up or down the rankings. One inference from this is that successful innovation breeds innovation, along with investment and talent. All the indicators suggest that an economy like Australia’s must persist and strive with innovation for all the benefits it brings.
At Eundo we assist clients achieve the rewards that are possible from the taxation and funding systems so that they may make their contribution towards global innovation.
