30 Most Innovative Countries

By Wei Lu and Marcus Chan - 2014-01-22T23:01:10Z

Photograph by Robert Koehler

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Methodology

To create the Bloomberg Innovation Quotient, we ranked countries and sovereigns based on their overall ability to innovate. Seven weighted factors were considered in determining their scores. Of the 215 countries and sovereigns evaluated, 110 had data for at least five of the seven factors. Those countries were included in the final ranking. The most recently available data were used. N/A indicates that there wasn't sufficient data.

The factors and weightings:

R&D intensity (20%): Research and development expenditure as a percentage of gross domestic product.

Productivity (20%): GDP per employed person age 15 and over.

High-tech density (20%): The number of high-tech public companies -- such as aerospace and defense, biotechnology, hardware, software, semiconductors, Internet software and services, and renewable energy companies -- as a percentage of all publicly listed companies.

Researcher concentration (20%): The number of professionals, including Ph.D. students, engaged in R&D per one million people.

Manufacturing capability (10%): Manufacturing value added as a percentage of GDP and as a share of world total manufacturing value added.

Tertiary efficiency (5%): The number of secondary graduates enrolled in post-secondary institutions as a percentage of cohort; the percentage of the labor force with tertiary degrees; annual science and engineering graduates as a percentage of the labor force and as a percentage of total tertiary graduates.

Patent activity (5%): Resident patent filings per one million residents and per $1 million of R&D spent; patents granted as a percentage of the world total.

Sources: Bloomberg, International Monetary Fund, World Bank, Organisation for Economic Co-operation and Development, United Nations Educational, Scientific and Cultural Organization, U.S. Patent and Trademark Office, World Intellectual Property Organization

(As of January 7)

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