Direct to content
Ministry for Foreign Affairs of Finland

Finland in top 3 of most innovative EU countries - Embassy of Finland, Vilnius : Current Affairs


K. Kalinausko g. 24, 2nd floor
LT-03107 Vilnius, Lithuania
Tel. +370 5 266 80 10
Liaison Office of Finland, Minsk
Revolutsionnaya 15, 220 030 Minsk, Belarus
Tel. +375 29 302 2772
English | Lietuviškai | Suomi | Svenska |  | 
News, 8/26/2016

Finland in top 3 of innovative EU countries


The Nordic countries dominate the 2016 European Innovation Scoreboard published by the European Commission. According to the report, Finland is the 3rd most innovative country in the EU, with Sweden and Denmark taking the respective top positions. Finland, however, leads the scoreboard in the innovation area of financial framework conditions. 

Other countries making the top 5 are Germany and the Netherlands while Latvia, Lithuania and the UK relatively improved their standing the most.

According to the report, in order to be an innovation leader, a country must have the following innovation factors in place:

1) good private and public investment system
2) innovation must transform into successful product sales, exports and employment figures
3) functioning partnerships not just between companies but also with academia
4) first-class research and education system 

Looking at the EU as a whole, while USA and Japan are still leading the innovation race, the EU is bridging the gap.

Source: European Commission, Nordic Business Insider

Print this page

Updated 8/26/2016

© Embassy of Finland, Vilnius | About this site | Contact information