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Bloomberg innovation index ranks countries and sovereigns based on their overall ability to innovate. It considers six equally weighted metrics, and their scores are combined to provide an overall score for each country from zero to 100. 1. Research & Development: Research and development expenditure as a percentage of GDP 2. Manufacturing: Manufacturing value-added per capita 3. Productivity: GDP and GNI per employed person age 15+ 4. High-tech companies: Number of domestically domiciled high-tech public companies—such as aerospace and defense, biotechnology, hardware, software, semiconductors, Internet software and services, and renewable energy companies – as a share of world's total high-tech public companies 5. Tertiary efficiency: Total enrolment in tertiary education, regardless of age, as a percentage of postsecondary cohort; minimum share of labor force with at least tertiary degrees; annual new science and engineering graduates as a percentage of the labor force and as a percentage of total tertiary graduates 6. Researcher concentration: Professionals, including Ph.D. students, engaged in R&D per 1 million population 7. Patents: Resident utility patent filings per 1 million population and per $1 million of R&D spent; utility patents granted as a percentage of world total Bloomberg innovation index evaluated more than 200 countries of which only 78 had data for at least six of the seven factors. Postsecondary education and patent activity consisted of multiple factors that were weighted equally. Weights were rescaled for countries with some but not all of the factors in those two metrics. The ranking shows only those countries included in the top 50.
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