Taiwan ranked 10th in Bloomberg's Global Innovation Index
Taiwan News, Staff Writer
2014-01-24 01:11 PM
According to a survey compiled by Bloomberg, Taiwan is ranked 10th out of 215 countries and sovereign regions around the world in terms of overall innovation capability. The innovation ranking was made based on seven gauge factors, such as the R&D expenditure, the percentage of public high-tech companies and patent activity. The ranking shows South Korea taking the top spot in the overall ability to innovate, followed by Sweden and the U.S.

Of the over 200 countries and entities evaluated, Taiwan is among the top 10 most innovative countries and takes the first place in patent activity. This category looked at resident patent filings per 1 million residents and per US$1 million of R&D spent, as well as patents granted as a percentage of the world total.

Looking at other evaluation factors, Israel is ranked No. 1 in R&D intensity, though the country is ranked 30th in overall ability to innovate. Luxembourg tops in productivity; Iceland tops in researcher concentration; Canada tops in tertiary efficiency; the U.S. not surprisingly is the leader in the number of high-tech public companies as a percentage of all publicly listed companies, and Taiwan comes next.

As the world’s largest manufacturing power, China leads in manufacturing capability and is ranked 25th in terms of overall innovation. This category is looking at manufacturing value added as a percentage of GDP and as a share of the world total of manufacturing value added. South Korea is ranked second.

The factors and weightings in this survey are listed as below: R&D intensity accounts for 20%, productivity 20%, high-tech density 20%, researcher concentration 20%, manufacturing capability 10%, tertiary efficiency 5%, and patent activity 5%, according to Bloomberg.

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