Sweden has been named as the most innovative nation in the annual European Innovation Scoreboard rankings – published today by the European Commission.

The comprehensive analysis, which includes a regional breakdown, indicates European Union (EU) countries are closing the gap with America and Canada but that more needs to be done to catch innovation trailblazers, Japan and South Korea.

Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, said: “EU industry continues to innovate, but we are still lagging behind global innovation leaders. In times of globalisation and rapid technology changes, innovation remains essential for the prosperity of our citizens and the wider European economy. The Commission’s Start-up and Scale-up Initiative and New Skills Agenda aim to further improve an ecosystem for innovation to thrive.”