– Switzerland is still the most innovative country
The World Intellectual Property Organization ranks Switzerland first, thanks in particular to its patents and high technology.
Switzerland remains the most innovative country in the world and is ahead of the United States, which overtakes Sweden. China is closing in on the top ten. Tensions affect innovation, the World Intellectual Property Organization (WIPO) said Thursday in Geneva.
Switzerland is first for the twelfth consecutive year in the world index of this institution, which brings together dozens of indicators in more than 130 countries. It leads on topics such as patent families, high technology and the complexity of production and export.
According to a WIPO official, the combination of “strong” research, the ability to finance innovation and applications quickly by the private sector in economic markets explains this situation. “SMEs must be more innovative” in Switzerland, given the scarcity of raw materials and a small domestic market, the Federal Institute of Intellectual Property told Keystone-ATS, explaining this new success.
Swiss research has long resulted in the launch of start-ups, he says. For a country like Switzerland, intellectual property is “very important”, he also points out.
In addition to the first three, Great Britain regains its fourth place, ahead of the Netherlands. In the next five to ten years, the composition of the twenty most innovative countries “should be more diverse,” WIPO Director General Daren Tang told reporters. The situation should reflect changes in patent applications, he insisted.
Despite the pandemic, investments in innovation around the world continued to increase last year. But difficulties are observed in achieving concrete effects, in particular due to the insufficiently rapid diffusion of new technologies such as artificial intelligence (AI). The organization wants a wave of innovation on these issues or on biotechnologies.
For this year, the situation is “clouded” by global uncertainties and by “the persistence of poor performance in innovation-driven productivity”, said Mr. Tang. It calls for innovation that is followed by impact for the economy, especially for small businesses and developing countries.
Similarly, “an environment with political tensions affects innovation,” further believes the CEO. However, it could accelerate, also adds the organization. The energy and food crisis could lead to an increase in the need for certain countries to facilitate innovation to guarantee their food security.
Investments in renewable energy and technologies to combat climate change could expand. In total, those of the main innovative companies increased by 10% in 2021 to reach more than 900 billion dollars, more than before the pandemic. This improvement is particularly linked to new technologies, pharma and biotechnology.
Venture capital schemes have increased by 46% and Latin America is the region where they are progressing the most. But we must expect more difficulties on this situation this year, also affirms the PMOI. In total, the second quarter figures show a decrease of 25 to 35% compared to the same period last year. The situation should deteriorate further by the end of the year, the organization also adds.