Innovation drive loses impetus
Switzerland remains among the top countries in Europe for innovation, mainly thanks to investment in research and development by the private sector.
But a study shows the Swiss are lagging behind when it comes to staff training and there is an overall lack of funding for projects.
The latest European Innovation Scoreboard survey puts Switzerland in fifth position behind Japan, Sweden, Finland and the United States.
The study, published on Thursday, covers European Union member states, the US, Japan and Switzerland.
According to the Federal Statistics Office, Switzerland’s strength is based on the creation, transfer and application of know-how.
Private companies in Switzerland invest the equivalent of 1.9 per cent of gross domestic product in research and development, markedly more than firms in any other country in the survey.
Switzerland is also one of the leading nations for patent applications, registering 460 per one million residents.
The country’s success in the transfer and application of ideas is put down to an emphasis on business partnerships.
One company in ten is working closely with another firm or a public research institution.
On average Swiss companies spend the equivalent of 3.5 per cent of their sales on innovation. The European average is just 2.1 per cent.
Training, investment
However, Switzerland trails behind the US and Ireland when it comes to staff training.
Only 27 per cent of the population have a degree from a university or technical college, according to the study.
The Swiss also appear more reluctant to invest risk capital in innovative projects. But at the same time Switzerland ranks among the leading nations for funding start-ups.
The Statistics Office said several indicators, especially in industry, pointed to the country losing ground to other nations.
In particular, experts warned of a future shortage of highly qualified staff.
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Swiss firms spend the equivalent of 1.9% of GDP on research and development, compared with 1.3% in the EU.
54.8% per cent of Swiss companies are considered innovative – putting Switzerland at the top of the table.
Swiss companies spend the equivalent of 3.5% of their sales on innovative projects, compared with an EU average of 2.15%.
Switzerland ranks among the top European countries when it comes to the creation, transfer and application of innovative know-how.
It lags behind other nations in staff training and the funding of innovative projects.
The survey was carried out among EU member states, Switzerland, the US and Japan.
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