Finland is one of the EU’s innovation leaders

According to the 2013 list published by the European Commission, the most innovative countries are Sweden, Germany, Denmark and Finland.

Innovation performance in the EU has improved despite the economic crisis, but the gap between member states is increasing. Sweden tops the ranking, followed by Germany, Denmark and Finland. 

Finland’s strengths lie in human resources, finance and support. 

Export of knowledge-intensive services and licence and patent revenues from abroad are growing noticeably in Finland. Growth for knowledge-intensive service exports was the highest in the EU. A relatively strong decline was observed in the number of innovative SMEs collaborating with others and SMEs innovating in-house. Finland’s growth performance in intellectual assets and innovators was well above the average EU level.

On Wednesday, the European Commission published its 2013 scoreboard, which ranks the EU member states. The most innovative countries continue to improve their performance. In comparison to last year, Estonia, Lithuania and Latvia have shown the greatest improvement. 

The drivers of innovation growth in the EU are SMEs, commercialisation of innovations and outstanding research systems. However, a decrease in business and venture capital investments during 2008-2012 has had a negative impact on innovation performance. 

A comparison with other European countries indicates that Switzerland is an innovation leader and consistently performs better than EU countries. This year’s results also show that South Korea, the United States and Japan are once again performing better than the EU. 

Innovation Union Scoreboard 

Source: European Commission

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