Switzerland retains its position as the world’s foremost innovative nation

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Switzerland has once again been designated as the world’s most innovative country, according to a study conducted by the United Nations. The World Intellectual Property Organization (WIPO), a specialised agency of the UN, announced that Switzerland has maintained its top position in the comparative assessment of innovative nations for the year 2022, surpassing Sweden and the United States.

Completing the top 10 are the United Kingdom, Singapore, Finland, the Netherlands, Germany, Denmark, and South Korea.

WIPO representatives noted that several countries, including India, Indonesia, Pakistan, Uzbekistan, and Brazil, have also shown remarkable performances in the field of innovation.

However, WIPO expresses concern that the significant decline in committed risk capital could have adverse effects on innovation in many countries. In 2022, venture capital decreased by 40% compared to the previous year, a trend that worsened in the first half of 2023, with a 47% decrease compared to the same period in the previous year.

This ranking is based on 80 different criteria, including investment, education, government spending on research and development, and the development of online products. In total, 132 economies were assessed, with the lowest positions in the ranking occupied by Burundi, Iraq, and Guinea.

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