AsianScientist (Jul. 20, 2011) – In the 2011 Global Innovation Index released on June 30 by French business school, INSEAD, Singapore was named the top Asian innovation economy, following Switzerland and Sweden at first and second places, respectively.
Hong Kong took the fourth place on the list, followed by Finland and Denmark at fifth and sixth place.
In the report, INSEAD defined innovation as:
An innovation is the implementation of a new or significantly improved product (good or service), a new process, a new marketing method, or a new organizational method in business practices, workplace organization, or external relations.
Other scoring factors included human capital, scientific and creative output, R&D investment, regulatory environment, and political conditions.
In the East Asia and Pacific regions, New Zealand (15th), Korea (16th), Japan (20th), and Australia (21th) fared well on the index.
China rose 14 places on last year’s table to be ranked at 29th, while India slid down six spots to 62nd place. For other Asian countries, Brunei came in at 75th, while the Philippines ranked 91st, ahead of Indonesia at 99th and Cambodia last at 111th.
Partners for the report were Alcatel-Lucent, Booz & Company, the Confederation of Indian Industry, and the World Intellectual Property Organization.
The report can be found at: 2011 Global Innovation Index.
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Source: Global Innovation Index 2011; Photo: Shutterstock.
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