Switzerland has once again been named the most innovative country in the world, according to a study conducted by the United Nations (UN).
The top 10 is completed by Great Britain, Singapore, Finland, the Netherlands, Germany, Denmark and South Korea. Among the countries that have also recorded very good performances in the field of innovation are India, Indonesia, Pakistan, Uzbekistan and Brazil, the WIPO representatives stated.
European countries are still the most strongly represented in the Top 20. “They have not lost their resistance,” said an expert from WIPO, Sacha Wunsch-Vincent.
Romania, up by two positions
Romania ranks 47th, up two positions compared to last year. Hungary is in 35th place, Bulgaria in 38th position, and Serbia in 53rd place. The Republic of Moldova ranked 60th.
However, WIPO believes that the significant decrease in committed risk capital could have negative consequences for the innovative force in many countries.
In 2022, venture capital fell by 40% compared to the previous year, a trend that worsened in the first half of 2023, when there was a 47% decrease compared to the same period last year. The main reason would be, according to Daren Tang, the general director of WIPO, the increase in interest rates.
“It’s about the end of cheap money,” added Sacha Wunsch-Vincent.
This ranking is based on 80 criteria, including investment, education, government spending on research and development of online products. Overall, 132 economies were analyzed. The last places in the ranking are occupied by Burundi, Iraq and Guinea.