The nation earns the highest score in the latest Global Innovation Scorecard, excelling in key sectors.
Singapore has been named the most innovative country globally, outshining the United States to claim the top position in the latest Global Innovation Scorecard. This biennial ranking, compiled by the Consumer Technology Association (CTA), evaluates 74 nations and the European Union based on various factors, including workforce education, new business creation, and overall innovation capacity.
The country’s rise to first place marks a notable improvement from its 15th-place ranking in 2023. Singapore earned the highest composite score among 25 countries recognised as global innovation leaders. The top five rankings were rounded out by the United States, New Zealand, Sweden, and Switzerland.
At CES, the world’s largest tech exhibition in Las Vegas, Singapore was awarded the prestigious Global Innovation Champion title on January 9. The event concluded on January 10, with major tech companies showcasing their latest advancements.
The CTA’s scorecard evaluates countries on their ability to foster technological growth, considering factors such as political, economic, and demographic conditions. This year, the ranking expanded to 56 indicators, up from 40 in 2023, with data sourced from organisations like the World Trade Organization, World Intellectual Property Organization, and the United Nations Conference on Trade and Development.
Singapore excelled in areas such as business environment resilience, data transparency, and maintaining a pro-innovation legal framework. The country’s support for start-ups, favourable corporate tax policies, and emphasis on small business growth were also key highlights. Furthermore, its diverse workforce, support for telehealth, and cross-border data flows were recognised as strengths, alongside fast broadband speeds.
Gary Shapiro, CEO of the CTA, noted that the scorecard reflects a nation’s ability to foster innovation by not only investing in cutting-edge industries but also creating freedoms that encourage workforce diversity and entrepreneurship. He added, “By recognising these innovation leaders, we hope to inspire other countries to follow their example.”
Enterprise Singapore also celebrated the achievement on social media, crediting the nation’s skilled workforce, entrepreneurial spirit, and commitment to adopting new technologies as key drivers of its success.
