Global Innovation Index 2013 stresses local dynamics of innovation

Updated: 2013-07-02 05:28:00

(Xinhua)

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GEVENA, July 1 (Xinhua) -- Switzerland lead the Global Innovation Index 2013 rankings two years in a row, followed by Sweden and the United Kingdom, concluded an innovation report released by World Intellectual Property Organization (WIPO) Monday.

The report, named "Global Innovation Index 2013," said that innovation was alive and well in spite of the economic crisis, noting that research and development spending levels were surpassing 2008 levels in most countries and successful local hubs were thriving.

The sixth edition of the annual report since its first release in 2007 weighed 142 economies across the globe against 84 indicators, including the quality of top universities, availability of microfinance and venture capital deals.

Following Netherlands (fourth place), the United States rejoined the five most-innovative nations, and Hong Kong (China) ranked 7th, one notch up from last year's 8th place, according to the report.

This year's report brought special attention to the local dynamics of innovation, an area remained under-measured globally, having showed the emergency of original innovation eco-systems and signaled a needed shift from a usual tendency to duplicate previously successful initiatives.

"Dynamic innovation hubs are multiplying around the world despite the difficult state of the global economy. These hubs leverage local advantages with a global outlook on markets and talent," said Francis Gurry, Director General of WIPO, in a written statement

"For national-level policy makers seeking to support innovation, realizing the full potential of innovation in their own backyards is often a more-promising approach than trying to emulate successful innovation models elsewhere," said Gurry.