Slovakia has improved in the ranking of innovations after years of bankruptcies, both exports and imports are among the strengths
Slovakia currently ranks 37th in the world innovation rankings. As the Industrial Property Office of the Slovak Republic informs, it has moved to this position in the Global Innovation Index 2021 after five years of constant decline from the 39th place.
The ranking is published by the World Intellectual Property Organization. In it, the world economy ranks according to its innovative capabilities on the basis of 80 points divided into innovative inputs and outputs.
Switzerland leads the world in innovation
“Slovakia’s strengths include ecological sustainability, environmental performance, import and export of cutting-edge technologies, as well as the share of utility models in GDP. On the other hand, the index highlights the complexity of starting a business, researching large corporations into research and development, as well as the cooperation of universities with industry in this area. “ Matúš Medvec, Chairman of the Office, commented on the results.
In a world of innovation that continues to be led by Switzerland, Sweden, the United States and the United Kingdom, with the Republic of Korea in the top five for the first time.
The impact of the crisis is uneven
This year’s Global Innovation Index shows that, despite the huge impact of the COVID-19 pandemic, many sectors have shown remarkable resilience. This was particularly the case for those who have adopted digitization, technology and innovation.
The impact of the crisis in individual sectors is very uneven. Companies operating in the field of information and communication technologies, the pharmaceutical industry and biotechnology have significantly increased their research and development and companies from areas severely affected by restraint measures such as transport and travel have substantially reduced their costs.