An in-depth report on global innovation has been co-released by Cornell University, INSEAD, and the World Intellectual Property Organization covering a total of 141 countries that make up 98.6% of global GDP. The report uses innovation inputs and outputs to create an overall Global Innovation Index with a score for each country. Rather than comparing all countries together, we decided to look at Canada and the United States to see which of the 49th parallel neighbours is the most innovative country. Here it is!
The above comments, and those below, have been edited by Lorimer Wilson, editor of munKNEE.com (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (see sample here – register here) for the sake of clarity ([ ]) and brevity (…) to provide a fast and easy read. The contents of this post have been excerpted from an article as sourced by VisualCapitalist.com (USA vs. Canada: Which is the Most Innovative Country? [Chart] – see original* HERE). (This paragraph must be included in any article re-posting to avoid copyright infringement.)
USA vs. Canada
…The report shows a few big differences between Canada and the United States that are worth noting:
- the “quality of innovation” in the United States is higher.
- University performance, the reach of scholarly articles, the international dimension of patent applications, and other such measures have the USA as the top place within the entire high-income group, followed by countries such as the UK, Japan, Germany, and Switzerland.
- This helps the United States get a better score than Canada in terms of Knowledge and Technology Outputs, which make up half of the formula for the overall index.
- The United States scores a 58.0 on those outputs, while Canada scores 41.9.
- The United States holds the top position globally in measures concerning Market Sophistication, which gives it a score of 81.5 compared to Canada’s 73.5 in that category.
- In terms of Business Environment…Canada has the best ranking in the world.
- The United States has strong institutions as well, and the difference here with Canada is only 5.9 points.
- Canada’s [overall] score was impacted by its weakness in the Human Capital and Research category, where it dropped from 13th to 22nd in ranking since the previous year’s report.
- This weakness is described by the authors as being linked to “government spending on secondary education per pupil, where [Canada] ranks 65th”.
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