Australia lags behind in terms of innovation

Australia is one of the least developed countries in terms of global innovation capability according to an evaluation of 26 nations by Forrester Research.

The Forrester report found that developed nations such as the US and Japan are spending on average US$1,270 per capita per year on R&D with little to show for their science and technology investment.

The resulting ranking also demonstrated how governments can implement successful innovation strategies designed for a globally networked knowledge economy.

The evaluated 26 nations were: Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, South Korea, Mexico, the Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, the UK, and the US.

Switzerland, the US, Sweden, Finland, the UK, Germany, and Japan were viewed as strong performers, while South Korea, Netherlands, and Canada were classed as contenders.

The report said Australia, Poland, Spain, Italy, Mexico, and Hungary lag behind in terms of innovation.

“Australia is a low-tech country with little to show in terms of leading edge programs like space exploration, nanotechnology, or other patentable inventions,” stated the report.