Denmark is the 10th most innovative economy in the world

The WIPO (World Intellectual Property Organization) has just released their Global Innovation Index report for 2022 showing the most innovative economies in the world and highlighting the strengths and weaknesses within innovation.

Switzerland is still topping the ranking as the most innovative country in the world – for the 12th year in a row – followed by the United States and Sweden at 2nd and 3rd place.

Denmark is still in top 10 despite a slight drop from 9th place in 2021 to 10th place in 2022. However, the new WIPO report reveals that Danmark has made progress in terms of getting enough out of investments in innovation. A parameter where Denmark earlier lagged behind.

Despite the COVID-19 pandemic, international patent filings grew by 0.9 percent in 2021, reaching about 278 million in total and setting a new record. This is however still down from the

3.6 percent growth in 2020. Health-related technologies continued to record the fastest growth among all fields of technology.

Interestingly, trademarks saw a spectacular growth in 2021 with close to 15 percent, a possible sign of the innovative progress the world is experiencing in spite of the economic downturn. A closer look suggest that the fast growth was in particular driven by new goods and services that rely on digital business models, fostered by the pandemic’s disruptions and the accelerated adoption of digital technologies.

However, it will be interesting to see if the innovation-driven growth will continue or if the pandemic has ultimately had a negative impact on the innovative landscape. Up until now, investments in science and innovation have been remarkably resilient.

Read the full report here.

Source: Global Innovation Index 2022 – What is the future of innovation-driven growth?