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Innovation: US isn't Number 1
What country is the most innovative in the world? Cisco recently sponsored the Economist Intelligence Unit to answer that, and their answer may not be what you think. They found Japan to be the most innovative — and by a wide margin. Japan, Switzerland, US and Sweden were the top four countries.
OK. Think cars, electronics and robotics. Japan has an incredible technology base in all of these. But how did they measure the country differences?
The EIU ranked 82 countries based on data from 2002-2006. They also extrapolated from that data to predict how rankings would change from 2007-2011. The top four slots aren’t expected to change, but lower down in the ranks China and Mexico are expected to improve their positions.
The rankings were based on the results of a survey of 485 global senior executives and their opinions about innovation. The study found that key to innovation was a country with a strong educational system and countries that encouraged the fields of engineering and science.
The survey found that 92% of the respondents thought that a workforce with strong technical skills and quality IT/telecommunications infrastructure key elements in driving innovation.
It’s to a country’s benefit to foster innovation. Innovation is directly correlated to strong national economic growth and corporate performance. “Innovation must become a priority at both the national and business level,” said Cisco’s Roger Farnsworth.
