Israel ranked 5th in Bloomberg innovation indexFeb. 4, 2015
Israel is the world’s fifth-most innovative country, according to the 2015 Bloomberg Global innovation index.
South Korea topped the list, followed by Japan, Germany and Finland ahead of Israel, while the United States was just behind it at No. 6.
The index was comprised based on rankings in six subfields: Research and development, in which Israel ranked No. 2, manufacturing (21), hi-tech companies (11), post-secondary education (4), research personnel (4) and patents (31).
The report said that R&D didn’t do a country any good if it was stuck in the lab, and that good systems of tech transfer to incentivize researchers to commercialize their work were important. The index used the percentage of GDP devoted to R&D to rank the countries.
Korea was the only country to best Israel in this field.
The next most impressive statistic is arguably one in which Israel did not breach the top 10: hi-tech companies. The index simply added up the number of locally-based, public hi-tech companies as a share of the world total, meaning that the measure did not account for a country’s size.
“You can argue that this factor is unfair to small nations,” the report said. Israel, with its population of just over 8 million, still came in at No. 11.
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