Switzerland is the world’s most innovative country.
Switzerland is the world’s most innovative country. It is for the 13th consecutive year, that Switzerland has been ranked first due to its policies for doing business and its scale of patent applications. Its world-class research institutions and skilled workforce are key ingredients in fostering innovation.
Sweden ranked second, rising above the U.S. this year. The country excelled in business sophistication, knowledge-intensive employment, and researchers per capita.
While the U.S. ranked third overall, it saw the highest scores in venture capital received, global corporate research and development (R&D) investors, and total unicorn value. Of the 1,206 global unicorns as of April 2023, the U.S. was home to 54% of the total. Unicorn companies are those that reach a valuation of $1 billion without being listed on the stock market and are the dream of any tech startup.
Singapore ranked the highest in Asia. As both a financial hub and global innovator, Singapore ranked strongly on government effectiveness, venture capital received, and stability for business.
Brazil (49th) ranked highest in Latin America, while Mauritius (57th) was the top-ranking country in Sub-Saharan Africa.