Sweden, Innovation Champion

The Consumer Technology Association (CTA), the largest U.S. tech trade association, named Sweden one of their 2018 'Innovation Champions' for policies that support innovation and technological development. 

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• The CTA’s innovation scorecard evaluates countries with two criteria: the government must influence public policy; and verifiable data must exist to be compared with different nations. An expansion that includes more countries is expected in the future, but Sweden is one of 13 countries earning this designation in 2018, with its decisive legislative factors including a law permitting the operation of drones without a license and another making it easier to test self-driving vehicles.

• Perhaps most surprising to foreign observers is Sweden’s corporate tax law, which was among the lowest of any country on the Innovation scorecard at 22 percent.

• Social factors also played into Sweden’s high ranking, citing strengths in innovation in high percentage of STEM graduates, an annual new business rate of 6.87 per 1,000 people, and high internet connectivity. In addition to Sweden, CTA named Australia, Austria, Canada the Czech Republic, Denmark, Finland, Portugal, Singapore, the Netherlands, New Zealand, the United Kingdom and the United States as Innovation Champions. For more info, see www.innovationscorecard.com.