Armenia ranked 69th in the list of most innovative countries

Armenia is on the 69th place of the world's most innovative countries, according to The Global Innovation Index, published today by the French business school Insead.

The report shows that more than half of the top 10 and top 20 countries in the world are European, although predominantly drawn from the north of the continent, The Wall Street Journal reported.

The most innovative country is Switzerland followed by Sweden and Singapore.

Among the CIS countries, most innovative is Moldova (39th). Russia is the 54th, Ukraine 60th, Azerbaijan is the 88th.

According to Soumitra Dutta, professor of business and technology at the Paris-based school, the report measures two things; the capacity of a country to innovate, so looking at things like education and infrastructure, and the outputs of the economy in terms of scientific and creative output.