Ireland regains Top 10 rank in list of of innovative economies

Ireland has moved into eighth position in a list of the world’s most innovative economies, moving past Luxembourg and Denmark in the Global Innovation Index 2015. Last year it fell back three places to 11th in the benchmarking survey.

The annual report, released by Cornell University, INSEAD, and the World Intellectual Property Organization, surveys 141 economies around the world, using 79 indicators to determine innovation capacities and measurable outputs.

Simon Harris, Minister of State for International Financial Services, welcomed the result.

“Ireland’s rise three places into the Top 10 is a welcome acknowledgement that our hard won recovery is recognised internationally, and speaks to this Government’s commitment to rebuild our reputation on the global stage. A continued focus on innovation-supporting policies is key to translating our recovery into a sustainable economy and prosperous society into the future”.

Switzerland, the UK, Sweden, the Netherlands and the US are the world’s five most innovative nations, according to the index, while China, Malaysia, Viet Nam, India, Jordan, Kenya, and Uganda are among a group of countries outperforming their economic peers.