Sweden at the top, again!


In the latest Global Innovation Index (GII) 2020 Report, published by World Intellectual Property Organization (WIPO), Sweden ranks 2nd after Switzerland and continues to lead the innovation ranking.  Consequently, Sweden beats several of the world's leading economies when it comes to innovation capacity.

The GII ranks countries from around the world according to how innovative the economies are. GII is a cooperation between Cornell University, the management school Insead and WIPO. 141 countries have been surveyed for 79 factors. These include the number of patent applications and university results.

Valea is proud to represent many of Sweden’s most innovative and successful companies.

The link to the full report can be found here: https://www.globalinnovationindex.org/gii-2020-report#

In addition to the ranking, a number of “key findings” are listed and discussed:

  • How the COVID-19 crisis will impact innovation;

The conclusion is that the governments have not prioritized innovation and R&D in the current stimulus packages, except for health. Many countries have injected large and unprecedented sums of money into the search for a coronavirus vaccine.

Consequently, in a past pandemic world or with controlled pandemic, the support for innovation must become broader and governments must counteract the effect with their own expenditure boosts to innovation.

  • Innovation financing declines in the current crisis;

To conclude, a number of Venture Cap (VC) hot spots are listed. It is appreciated that these hot spots will continue attracting VCs. It is appreciated that: “They are likely to bounce back quickly, in part due to the thirst for return on capital worldwide. Chinese VC deals, which halved earlier this year, are already rebounding strongly.

Importantly, the direction of VC and innovation seems to have been redirected towards health, online education, big data, e-commerce, and robotics.”

Two last very motivating chapters, argue that intellectual property (IP) is recognized as assets and used for financing innovations and an opportunity for reaping financing through IP for innovations.

These are the World´s most innovative Countries - Global Innovation Index 2020: https://www.youtube.com/watch?v=g0xt4IeRxSc&feature=youtu.be

// Behdad Assadi