Australia ranks third in 2018 International Innovation Scorecard

18 Jan 2018

A global ranking by the US-based Consumer Technology Association (CTA) has placed Australia third out of 38 countries in its inaugural 2018 International Innovation Scorecard.

Finland and the United Kingdom ranked first and second respectively, while Sweden and the US followed Australia in fourth and fifth place.

To rank each nation, the scorecard measures factors the CTA believes are the most conducive to innovation. These include:

  • whether governments welcome disruptive business models and technologies, including the ‘sharing economy’ and self-driving vehicles
  • how ‘friendly’ the nation’s tax systems are
  • how well the nation protects its environment
  • broadband speed and cost
  • diversity
  • ratio of female-to-male employees in workplaces in key age demographics
  • immigrants as a share of the national population
  • freedom of thought and expression.

Australia ranked first in diversity, highly skilled labour, competitive tax rates, political freedom, entrepreneurial activity, drone technologies, self-driving vehicles and for having the cleanest water and air. Read the International Innovation Scorecard to find out more.

The Australian Government sees innovation as a key part of every sector. It has allocated A$1.1 billion over four years to fund 24 initiatives under the National Innovation and Science Agenda (NISA). The Agenda focuses on four pillars – culture and capital, collaboration, talent and skills, and government as an exemplar.

‘The quality of life Australians enjoy will increasingly be determined by how well we, as a nation, succeed in an environment in which innovation is critical,’ says Kevin Cryan, Senior Investment Specialist, Austrade. ‘Australia’s ranking in the 2018 International Innovation Scorecard is a reflection of how investment in NISA helps to support these efforts.’

Based in Virginia, CTA is the largest technical trade association in the US.