Brussels, 13/09/2013 (Agence Europe) - On 13 September, the European Commission launched a new innovator to measure innovation.
The Indicator of Innovation Output measures the extent to which ideas from innovative sectors are able to reach the market, providing better jobs and making Europe more competitive. It looks at technological innovation as measured by patents, competitiveness of knowledge-intensive goods and services, based on both the contribution of the trade balance of high-tech and medium-tech products to the total trade balance, and knowledge-intensive services as a share of the total services exports and employment in fast-growing firms of innovative sectors.
“The European Union must turn more great ideas into successful products and services in order to lead in the global economy. We also have to close a worrying 'innovation divide'. The proposed indicator will help us measure how we are doing and pinpoint areas where countries need to take action”, said EU Research, Innovation and Science Commissioner Maire Geoghegan-Quinn.
Sweden and Germany top of the league. Set up at the request of EU leaders to benchmark national innovation policies and shows that significant differences remain between EU countries. Sweden, Germany, Ireland and Luxembourg come top of the league when it comes to innovation, with Bulgaria, Lithuania, Latvia and Portugal at the bottom. The most innovative countries have an economy with a high share of knowledge-intensive sectors, fast-growing innovative firms, high levels of patenting and competitive exports. (CG/transl.fl)