A report by the ITIF think-tank has found that the US is strong on innovation, but a greater openness to skilled foreigners moving to the US could boost the country’s competitiveness in terms of innovation.
The Washington-based organization used 16 indicators to compile a list of the top nations for innovation. These 16 indicators came under the following six key areas:
- innovation capital
- human capital
- information technology infrastructure
- economic policy
- economic performance
Singapore was ranked first in the list, followed by Sweden, Luxembourg and Denmark. The US was ranked as sixth most innovative, and the UK was ranked in eighth place.
The research also ranked the nations in terms of progress, in which the US was ranked 40th. The ITIF published a list of factors that can enhance a country’s progress in terms of innovation. The use of highly skilled workers is a major factor, according to the report. The research found that the country could be viewed as more competitive if it was more open to skilled people relocating in the US .