The Czech Republic improved its position in the 2020 Bloomberg Innovation Index ranking to 24th place year on year, becoming the most innovative country among the Visegrad Four countries.
The Czech Republic did well in added value of industry (7th), the number of researchers and R&D ratio of research spending to GDP, while its weakest area was concentration of high-tech industry (42nd), effectiveness of tertiary education (38th) and patent activity (31st).
The most innovative country is considered to be Germany, jumping ahead of South Korea, which was second, followed by Singapore and Switzerland.
Within the Visegrad Four, Poland was ranked 25th, followed by Hungary at 28th and Slovakia at 41st.
The annual Bloomberg Innovation Index analyses several criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.