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Italy ranks 29 out of 142 for innovation capacity

Global index says Switzerland is number one

Italy ranks 29 out of 142 for innovation capacity

Rome, July 3 - In a study ranking 142 economies across the world for their innovation capacity and efficiency, Italy places 29, the 2013 edition of the Global Innovation Index (GII) reported Wednesday. The GII is used as a benchmarking tool for business executives and policy makers looking for insight into the state of innovation around the world. Switzerland is rated top of the list for innovation according to the index's 82 parameters that include access to education, patents issued and scientific publications. The other top five countries include Sweden, Britain, Holland and the United States that jumped from 10th to fifth place. "Despite the crisis, innovation is alive and kicking," the report said. "Research and development spending are on the rise in many countries and countries like China, Costa Rica, India and Senegal are moving up in the classifications, even if they haven't quite reached the highest places," said the report, The GII is a collaboration between Cornell University, INSEAD Business School and the World Intellectual Property Organization.

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