Finland top for innovation, OECD finds

The OECD has published a report on innovation policies and support in several EU countries, finding that Finland tops the game.

The report, compiled by the UN Organization for Economic Cooperation and Development, highlights the positive role research and innovation play when making a society competitive. It also flags up disparities between the different European members in terms of public spending, ability to attract private investment tractability and role of government.

Finland was highlighted favourably by OECD, as its economic and social development has remained high due to continued investment in education research and innovation. The country transitioned from a largely resource-based to a leading knowledge-based economy with high technology manufacturing, the OECD said. This happened despite the financial crisis of 2009 and the subsequent decline of mobile phone company Nokia, which reduced research investment.