"world-class" capacity for innovation”


Vardina Hilloo

Israel's main strengths remain its "world-class"
capacity for innovation, derived from the presence
of "the world’s best research institutions" and
their collaborations with the business sector, and
the high number of patents, according to the Global
Competitiveness Report (GCR) for 2011-2012 published
by the World Economic Forum's Centre for Global
Competitiveness and Performance.

The report mentions Israel's favorable financial
environment, particularly the solid availability of
venture capital, which has "further contributed to
making Israel an innovation powerhouse".

These  have become stronger in the past year, said the report.
The report also notes that increased budgetary discipline
with a view to reducing debt levels would help the country
maintain stability and support economic growth going into the future.

Israel's main advantages according to the current report are:
1.Quality of scientific research institutions
2.Venture capital availability
3.Utility patents per million poplation
4.Life expectancy
5.Strength of investor protection
6.Government procurement of advanced tech product
7.Capacity for innovation
8.Firm-level technology absorption
9.University-industry collaboration in R&D
10.Company spending on R&D
11.Nature of competitive advantage
12.Legal rights index
13.Availability of scientists and engineers