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News : EU Economy Last Updated: Apr 2, 2013 - 8:41 AM


EU Innovation Scorecard 2013: Sweden, Germany, Denmark and Finland in the lead
By Finfacts Team
Mar 28, 2013 - 8:48 AM

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EU Innovation Scorecard 2013: The overall country innovation ranking within the EU remains relatively stable, with Sweden at the top, followed by Germany, Denmark and Finland. Estonia, Lithuania and Latvia are the countries that have most improved since last year.  Drivers of innovation growth in the EU include SMEs and the commercialisation of innovations. However the fall in business and venture capital investment over the years 2008-2012 has negatively influenced innovation performance. Switzerland is the leading innovator in Europe.

The European Commission says the annual Innovation Union Scoreboard provides a comparative assessment of the research and innovation performance of the EU27 member states and the relative strengths and weaknesses of their research and innovation systems. It helps countries assess areas in which they need to concentrate their efforts in order to boost their innovation performance. In addition, the Scoreboard covers Croatia, Serbia, Former Yugoslav Republic of Macedonia, Turkey, Iceland, Norway and Switzerland. On a more limited number of indicators, available internationally, it also covers Australia, Brazil, Canada, China, India, Japan, Russia, South Africa, South Korea and the US.

The Innovation Union Scoreboard 2013 places member states into the following four country groups:

  • Innovation leaders: Sweden, Germany, Denmark and Finland, all show a performance well above that of the EU average.

  • Innovation followers: Netherlands, Luxembourg, Belgium, the UK, Austria, Ireland, France, Slovenia, Cyprus and Estonia all perform above the EU average.

  • Moderate innovators: Italy, Spain, Portugal, Czech Republic, Greece, Slovakia, Hungary, Malta and Lithuania perform below the EU average.

  • Modest innovators: The performance of Poland, Latvia, Romania and Bulgaria is well below that of the EU average.

Innovation Scorecard 2013

Last December, the European Commission published the rankings of the top 1,000 corporate spenders in the EU27 and top 1,500 global spenders.

There are 46 Finnish companies in the ranking and 14 Irish -- however, 7 of the 14 Irish are foreign companies mainly American, that have headquarters in Ireland.

Three American companies headquartered in Ireland on paper contributed 68% of Ireland's R&D investment: Seagate Technology (15.0%), Covidien (23.9%) and Accenture (31.2%). Annual rises are in brackets. Seagate €1bn while the 4th Irish rank, Ingersoll-Rand --  another American company, spent €199m.

However, very little of this spend may have been made in Ireland.

Bank of Ireland and AIB are included and Kerry Group has a 128th ranking  with global R&D spend at 3.2% of revenues and Glanbia is at 669 with R&D spending of a measly 0.5% of revenues.

Top EU and global R&D investors

Irish Economy: Innovation, a failed enterprise policy and inconvenient facts for 2013

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