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Latvia receives high score in latest innovation ratings

Arvils Aseraden/flickr.com.
Latvia’s score in the latest innovative ratings is proof of stable and sustainable state development. This is proof Latvia is headed in the right direction, which benefits productivity and high added value goods, says Latvian Economy Minister Arvils Aseradens.

This year’s Global Innovation Index 2017: Innovation Feeding the World welcomes Latvia’s accomplishments in sorting out its business environment, education and exports of goods and services. Latvia is put on the 33rd place among 127 surveyed countries, Economy Ministry reports.

European Innovation Scoreboard 2017 published on 20 June mentions Latvia among ‘medium innovators’ group.

The ministry mentions in its statement that experts of the European Commission welcomed Latvia’s accomplishments in improving its business environment, as well as human resource development and employment for rapidly growing companies. Latvia is put on 24th spot among 28 countries on the scoreboard.

The Global Innovation Index is compiled by Cornell University in cooperation with INSEAD and World Intellectual Property Organization. The index compiles data on different countries based on 81 indexes in areas like education, training, skills, political and business environment, regulations, research and development, trading and competition, creation of knowledge, influence and distribution, non-material assets, creative industry products and services, online activities, etc.

European Commission’s European Innovation Rating covers ten dimensions based on 27 indexes that affect innovations, including human resources, attractive research system, environment beneficial to innovations, finances and support, business investments, ability of businesses to innovate, cooperation between science and business, intellectual assets, influence of innovations on employment, and influence of innovations on sales.


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