Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself.
Innovation and creativity are essential for sustainable growth and economic development. In today’s competitive economy, innovation becomes main driver for sustainable growth both for individual companies and for entire countries.
In this infographic from Good Magazine, the world map shows what percentage of Thomson Reuters’ “Global Innovators” list is headquartered in each country. In this list, Thomson Reuters names World’s 100 Most Innovative Companies. The U.S. leads, with 40 percent of that list’s companies based here. It’s followed by Japan (with 27 percent), France (11 percent) and Sweden (6 percent).
The most innovative industries on Thomson Reuters’ list were electronics and semiconductors, followed by chemical manufacturing, computer hardware, consumer products, machinery and telecom equipment.