Report stresses the importance of innovation as a catalyst for
global growth during a period of economic recovery
Fontainebleau, France, Singapore and Abu Dhabi, 3 March 2010 – INSEAD, the leading international business school, today announced the findings of its 2009-2010 Global Innovation Index (GII), a study which the school has jointly published with the Confederation of Indian Industry (CII) for the past three years. The GII evaluates the progress of innovation readiness in countries, highlighting the obstacles that prevent governments, businesses, and individuals from fully capturing the benefits of innovation.
"This year's Report underlines the importance of innovation in country competitiveness and growth particularly at a time when the global economy is recovering from one of the worst financial crises it has ever seen," said Soumitra Dutta, Roland Berger Professor of Business and Technology at INSEAD and primary author of the study. "The results confirm the crucial need for countries to focus on directed pro-innovation policies to jumpstart growth in the medium term and lead to development in the long term."
'The Global Innovation Index', featured in the Report, examines how countries benefit from innovation through the use of enablers that stimulate innovation and their ensuing outputs. There are five enabling parameters which include: 'Institutions', '‘Human Capacity', 'General and ICT Infrastructure', 'Market Sophistication' and 'Business Sophistication'. The two output parameters – 'Scientific Outputs' and 'Creative Outputs and Well-Being' - provide evidence of the results of innovation within the economy.
Iceland topped this year's GII ranking despite the difficult economic situation it has faced over the last two years. Sweden and Hong Kong follow in the second and third positions, respectively. Several of the most innovative countries from last year's Report, including the U.S. (eleven), U.K. (fourteen) and Germany (sixteen) have fallen in the ranks.
The top ten countries in the overall 2009-2010 GII ranking include:
3. Hong Kong, China
9. New Zealand
Similar to the 2008-2009 Report, European economies performed particularly well, including the Nordic ones – Sweden, Denmark, Finland and Norway - which all ranked in the top 10 with Iceland. Some of the Eastern European countries such as Slovenia (26), Czech Republic (27) and Estonia (29) also performed well in this year’s rankings. Israel and the United Arab Emirates placed within the top 25 countries, followed closely by Kuwait (33) and Qatar (35).
About the Report
In the 2009-2010 GII, some changes have been introduced to give the Report a more holistic outlook. The traditional approach to measure innovation has been to look at parameters such as patents per million of population, publication of scientific journals, research and development expenditure. This Report goes beyond these measurements and adds other parameters that capture innovation in emerging markets and the effects of innovation on social welfare.
Launched first by INSEAD in 2007, the Report is one of the most comprehensive international assessments of the impact of innovation on competitiveness and growth. The study uses a combination of hard data collected by well-respected international organisations, such as the International Telecommunication Union (ITU), the United Nations, and the World Bank, and survey data from the Executive Opinion Survey, conducted annually by the World Economic Forum in each of the economies covered by the Report.
To download the full report or see additional highlights, country profiles and rankings, please visit: http://www.insead.edu/elab.
About INSEAD, The Business School for the World
As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas from around the world to change lives and transform organisations. This worldly perspective and cultural diversity are reflected in all aspects of INSEAD’s research and teaching.
With three campuses in Europe (France), Asia (Singapore) and the Middle East (Abu Dhabi), a research centre in Israel and an office in New York, INSEAD extends the reach of its business education and research across three continents. 145 renowned faculty members from 36 countries inspire more than 1,000 degree participants in the MBA, Executive MBA and PhD programmes. In addition, more than 9,500 executives participate in INSEAD’s executive education programmes. With the INSEAD-Wharton Alliance, MBA and co-branded executive education programmes are delivered on Wharton's U.S. campuses in Philadelphia and San Francisco, as well as INSEAD’s campuses in Asia and Europe.
This academic year is an important milestone for INSEAD as it celebrates half a century of success. Fifty years ago, INSEAD pioneered the concept of international business education – and is still innovating across all of the programmes, in addition to the cutting-edge research. The world and INSEAD have developed dramatically in the course of the last fifty years, but the core values on which INSEAD were founded have remained constant. These principles have enabled INSEAD’s entrepreneurial spirit to evolve and the school has grown into a truly global force.
Today’s organisations need leaders with the knowledge and sensitivity to operate anywhere in the world. This is why business turns to INSEAD – to develop the next generation of transcultural leaders.
More information about INSEAD can be found at www.insead.edu.
Contacts for press
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Lucile Lafaurie, INSEAD Europe Campus
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Janet Loh, INSEAD Asia Campus
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Joe Chedid, INSEAD Middle East Campus
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Amy Fathers, Cubitt Jacobs & Prosek Communications
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