The 2019 Global Innovation Index has ranked the 20 most innovative countries based on economic and social development.
We’ve composed a summary of each nation in the top 10, and we explain why each of those countries is leading in innovation.
Some of these rankings may surprise you.
Israel leads the list at number 10 because it is the Silicon Valley of the Middle East. Entrepreneurs and venture capitalists find success in Israel due to its collective attitude toward taking risks and challenging social norms.
Germany’s economy has prospered thanks to its capitalization off inventions like self-driving/electric cars, the MP3 player, X-rays, and more. Technologically, Germany has led the race with its groundbreaking innovations.
Singapore is widely considered the world’s most dynamic economic region. This nation is a metropolis for R&D. Singapore has an Economic Development Board, which has been proactive in equipping Singaporean companies with resources for success.
Like Germany, Denmark is another technological hotspot for investors. They lead the world in green tech, biotech, pharmaceutical sciences, telecommunications, IT, and design. A large part of Denmark’s focus has been on conservational inventions, which have paid off big time.
Finland has a healthy political climate, affordable cost of living, and clean water and air. Its government is perhaps the most proactive of any, rapidly influencing public policy following decision-making. Finland also developed housing crisis solutions for its citizens.
5. United Kingdom
The United Kingdom follows the United States and China in leading tech innovators. Nineteen percent of top global innovators claimed the United Kingdom had one of the most promising markets for tech investors. In 2017, its venture capital investments totaled $4 billion.
The Netherlands is commended for the way its businesses are able to collaborate well with its universities. This nation ranks number one in logistics performance, cluster development, knowledge and technology outputs, and creative outputs.
3. The United States of America
The United States’ federal laws put it at number three. Freedom of speech has enabled the “average Joe” to pursue profitable ideas and inventions, which has idealized the American Dream for many immigrants.
Sweden makes the list every year, and that is due to its dedication to changing the way humans live through technology. This nation leads the world in manufacturing, and most of their business is not through corporations but through the private business sector.
Switzerland tops the list for its constant state of invention. This country sees more patent applications than any other country. Switzerland also has the most prestigious research institutes in the world, and businesses there are sure to hire only the best and most skilled.