Global Innovation Index 2011 - Switzerland ranks first among 125 economies on innovation levels

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. Source: World Intellectual Property Organization

"Innovation is critical to driving growth in both developed and emerging economies, especially during a time when the global economy is still in a state of recovery,’ said Soumitra Dutta, Roland Berger Professor of Business and Technology at INSEAD and editor of the study. ‘The GII has evolved into a valuable benchmarking tool to encourage private-public dialogue including policy-makers, business leaders and other stakeholders."

Switzerland’s most important exports are machines, chemicals and pharmaceuticals, and jewelry. Leading companies in mechanical engineering, pharmaceuticals, bio- and medical technology, and computer sciences are headquartered in Switzerland. Over 500 medical technology companies employ a workforce of 40,000 people. They invest about USD 500 million annually in R&D, and export goods worth of nearly USD 5 billion per year. Switzerland is a first-class location for life science companies and is home to one of the world’s leading biotechnology clusters. World-renowned life science companies combined with first-rate universities and institutes of technology offer a dynamic biotech industry. Switzerland has also become an excellent location for medical, micro- and nanotechnologies.

The top ten economies in the Global Innovation Index 2011 ranking are:

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