Bloomberg Global Innovation Index: Korea on top.


Source: Bloomberg.



East Asia leads the world in business funding

2013_08_academic summitAcademics at leading South Korean universities are the world’s best at attracting funding from business, a new study says.

Compiled by Times Higher Education, the World Academic Summit Innovation Index shows companies are investing the equivalent of £62,780 ($97,900) in each scholar in South Korea to carry out work in innovation and research on their behalf.

Singapore is in second place, bringing in an average of £54,462 ($84,500) per academic, with the Netherlands in third (£46,921; $72,800). The US lies in 14th position, with industry contributing nearly four times less to its academic researchers (£16,628 or $25,800 per person) than in Korea, according to the index, which is based on data from the world’s top 400 universities as assessed by the THE World University Rankings. The UK is in just 26th place, attracting £8,572 ($13,300) per researcher from industry.

Phil Baty, editor of the THE World University Rankings, said: “That South Korea and Singapore are the top two countries listed in this new table, with other Asian nations like Taiwan, China and India all making the top ten will be  a shocking wake-up call for the West.”

For full article, see Times Higher Education.

Korea No. 2 in global innovation index

South Korea ranked the second-most innovative country in the world, moving up one notch from last year’s ranking, data showed on Tuesday. According to data complied by financial news and data provider Bloomberg, Korea ranked No. 2 behind the United States, which topped the list by climbing six notches from last year. The research indicated progress in Korea’s innovation-related sector as it rose one slot in rankings from last year’s No. 3 spot.

Bloomberg gathered data from 200 countries and graded them on seven measures: R&D intensity, research and development as a percentage of gross domestic product, productivity, high-tech density, researcher concentration, manufacturing capability, tertiary efficiency and patent activity.

For full article, see Korea Herald.