The Netherlands, World’s Second-Best Innovative Economy
The Netherlands jumped one place in this year’s Global Innovation Index (GII). That makes the Dutch the second-best innovative economy in the world. The index ranking is in collaboration with Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).
Why did the Netherlands earn the second-best innovation ranking? According to GII, the country has a strong, integrated business sector that works closely with universities. They also said that Dutch businesses are sufficiently internationalized as a result of its intellectual property licensing exports.
The Global Innovation Index uses 80 indicators to determine which countries are most involved in the innovation landscape. These indicators range from intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.
This year the Index reviewed 126 countries, specifically focusing on energy innovation and possible breakthroughs that could be made in the areas of consumption, distribution, storage and energy production. With its offshore wind energy farms and Dutch company Vehicle2Grid’s localized energy storage system as some of its innovative examples, the Netherlands scores high in all these capacities.
The Netherlands gets high ratings when it comes to business sophistication. The other areas where the Dutch do well are knowledge and technology outputs, as well as creative outputs.
In addition to the aforementioned areas, the country’s strengths are also exhibited on the logistics performance indicator, information and communication technologies, and the business environment. Companies like Adyen, QuTech and Studio Roosegaarde are examples of the Netherlands’ innovative power.
The Netherlands also displays strengths in education, knowledge absorption, online creativity and knowledge diffusion, along with several other indicators.
Global decision makers use GII’s information to better understand how to stimulate innovative activities that drive economic and human development.