Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO) recently released the Global Innovation Index 2013. After falling out of the top five last year, the United States has reestablished itself among global leaders in innovation.

The report, published since 2007, examines 142 economies around the world, using 84 indicators including the quality of top universities, availability of microfinance, and venture capital deals. It takes into account both innovation capabilities and measurable results. The United States was last in the GII top 5 in 2009, when it was number one.

Below are the 2013 rankings, along with last year’s positions:

1.    Switzerland (Number 1 in 2012)
2.    Sweden (2)
3.    United Kingdom (5)
4.    Netherlands (6)
5.    United States of America (10)
6.    Finland (4)
7.    Hong Kong (China) (8)
8.    Singapore (3)
9.    Denmark (7)
10.    Ireland (9)

While the top-ranking countries are largely high-income, the report highlights that several middle- and low-income countries — including China, Costa Rica, India, and Senegal — are making great strides and outpacing their peers. The researchers also found that research and development spending levels exceeded 2008 levels in most countries and successful local hubs are thriving.

“The results of the GII provide testimony to the global nature of innovation today. The top 25 ranked countries on the GII are a mix of nations from across the world – North America, Europe, Asia, Oceania and the Middle East. While high-income economies dominate the list, several new players have increased their innovation capabilities and outputs,” stressed Mr. Soumitra Dutta, co-editor of the report and Anne and Elmer Lindseth Dean, Samuel Curtis Johnson Graduate School of Management, Cornell University.

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