Sri Lanka ranked 82nd in innovation index

July 04, 2011 (LBO) – Sri Lanka has been ranked 82nd, in a global innovation index issued by Insead, an international business school, behind India but ahead of other key south Asian countries. Switzerland topped this year’s ranking in the Global Innovation Index (GII), while Sweden took second place and Singapore third.

The GII 2011 ranks 125 economies across the world in terms of their innovation capabilities and results and highlights those that achieve more innovation outputs surmounting weaknesses from the input side – the efficient innovators – and those that lag behind in fulfilling their innovation potential.

Joining Insead for the report were Alcatel-Lucent, Booz & Company, the Confederation of Indian Industry (CII), and the World Intellectual Property Organization (WIPO), a specialised agency of the United Nations.

“Today the whole world is talking about innovation in all forms starting from industry to government to society,” said Naushad Forbes, chairman of the CII Innovation Council 2011-12 and director of Forbes Marshall.

“After the recent economic slowdown the focus has shifted clearly towards the developing regions not only in terms of a booming potential