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Israel Ranked in Top 10 on 2018 Bloomberg Innovation Index

Israel retained the 10th spot in the 2018 Bloomberg Innovation Index published Tuesday, coming in first in two key categories in the annual survey, namely R&D intensity and research concentration.

Source: NoCamels

The Bloomberg Innovation Index ranks the world’s 50 most innovative countries using seven criteria including research and development expenditure as a percentage of GDP, productivity, patent activity, concentration of researchers, including postgraduate PhD students, engaged in R&D per 1 million people, and concentration of high-tech companies.

Israel took the 10th spot for the second year running, while South Korea and Sweden maintained their first and second rankings, respectively. Notably, the US dropped out of the top 10 this year, taking the 11th spot, though it ranked first in high-tech density.

Israel was the only country to beat South Korea in the R&D intensity category and overcame Denmark in the research concentration criteria.

Meanwhile, in the World Economic Forum’s Global Competitiveness Report for 2017-2018, which ranks countries’ competitiveness based on 12 categories, including innovation, technological readiness, business sophistication and higher education, Israel is ranked 3rd in the innovation category.