UK a world leader for innovation

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UK a world leader for innovation

The UK has been ranked as the second most innovative country in the world, coming out above the USA, Singapore and Germany for the third year running. 

The Global Innovation Index (GII) illustrates the key role that innovation plays to drive successful economic growth. The UK has worked hard to achieve status as a world leader for innovation, rising from tenth on the GII in 2001 to second in both 2014 and 2015. This is the fastest climb up the ranks among the top ten GII-ranked nations for innovation. 

The UK government is committed to supporting businesses in innovating and creating ideas that will help them to grow, and have developed a productivity plan which aims to increase UK productivity growth across the next decade.

Following the announcement of the GII 2015, the Intellectual Property Office (IPO) published its annual report on innovation and growth. The report sets out how the government is developing the UK’s intellectual property regime to support innovative and growing businesses in the delivery of services including patents, copyright, trade marks and design, in enforcement in the digital marketplace and international policy making.

Speaking at the Launch of the GII in London, business minister Baroness Neville-Rolfe said: “The UK has soared ahead in these global innovation rankings over the past few years, a further sign that our long-term economic plan is working.” 

The UK is home to four of the world’s top ten universities, and the Taylor Wessing Global IP Index ranks it as the best place in the world to obtain, exploit and enforce intellectual property rights. In addition, 16 per cent of the world’s top quality published research is produced in the UK, which hosts less than one per cent of the world’s population. These accolades are major factors in the UK maintaining its position at number two in the 2015 Global Innovation Index.

The government initiatives to support innovation and growth in business will offer new opportunities, especially for smaller businesses who may not have the resources for such growth without support.