STARTUP ECOSYSTEM
Czechia Innovation index
Czechia’s innovation landscape: a global leader in Research and Development
Czechia continues to solidify its position as a leader in innovation, boasting impressive rankings in global innovation indices, a strong patent portfolio, and substantial investments in research and development (R&D). These factors highlight the country’s dynamic approach to technological advancement and its commitment to fostering a knowledge-based economy.
Global Innovation Index 2023: a strong performance
In 2023, Czechia ranked 31st out of 132 countries in the Global Innovation Index (GII), reflecting its competitive edge in fostering an environment conducive to innovation. The GII evaluates nations based on a variety of metrics, including infrastructure, business sophistication, and human capital. Czechia’s ranking indicates not only robust domestic policies supporting innovation but also growing international recognition of its innovation ecosystem.
Source: Global Innovation Index
This high rank is significant in the context of global competition, with many countries vying for leadership in the digital and knowledge-driven economy. Czechia’s strategic investments in technology, education, and R&D are key drivers of this performance, positioning the country as an attractive destination for tech startups and investors alike.
Patents and research output: Czechia’s Intellectual Property landscape
Patents are a clear indicator of a country’s innovative capacity, and Czechia has demonstrated a consistent output. According to the Czech Statistical Office, in 2023, approximately 5,433 patents were granted, placing the country 36th globally for patents filed. This level of patent activity reflects the growing number of innovations being produced across various sectors, from advanced manufacturing to cutting-edge software development.
As a testament to the country’s technological expertise, the Czech Republic has fostered an ecosystem where both large corporations and dynamic startups continue to push the boundaries of innovation. Czechia’s competitive position in terms of patents underscores its role as a central player in the Central and Eastern European region.
R&D investment: a strong commitment to innovation
Research and development investment plays a critical role in maintaining a competitive economy, and Czechia is no exception. In 2022, the country dedicated 1.96% of its GDP to R&D, a figure that reflects the government’s strategic focus on fostering innovation in key sectors, including technology, health, and advanced manufacturing.
Source: Gross domestic expenditure on research and development (GERD) as a percentage of GDP in Czechia from 2010 to 2022, Statista
This investment is part of a broader European trend where countries are increasing their R&D spending to ensure their economies remain at the forefront of technological progress. By dedicating nearly 2% of its GDP to research, Czechia aligns with global leaders in R&D investment, underscoring its commitment to driving future economic growth through innovation.
The future of Czechia’s innovation ecosystem
Czechia’s innovation landscape is poised for continued growth, supported by both public and private investment. The country’s strong performance in global rankings, combined with significant patent activity and substantial R&D spending, places it on a trajectory towards further technological leadership. As Czechia continues to invest in its human capital and infrastructure, it is likely to see even greater achievements in the years to come. By prioritising innovation across various sectors, Czechia not only enhances its global competitiveness but also ensures that it remains a key player in Europe’s rapidly evolving knowledge economy.
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Czechia Innovation index
Czechia continues to solidify its position as a leader in innovation, boasting impressive rankings in global innovation indices, a strong patent portfolio, and substantial investments in research and development (R&D). These factors highlight the country's dynamic approach to technological advancement and its commitment to fostering a knowledge-based economy.
Czechia Export/Import Ratio
The Czech Republic has long been known for its robust industrial base, and in recent years its high-tech sector further solidified its position as a key player in global trade. The nation demonstrated its prowess in the export of technology products, showing a healthy export-to-import ratio that highlights its competitive edge in the high-tech sector.
Czechia Startup density
Czechia has emerged as a dynamic hub for startups in Eastern Europe, combining strategic location, a highly educated workforce, and increasing access to funding. With steady growth and recognition on global and regional stages, its ecosystem is attracting both talent and investment, making it a rising star in the global startup scene.
Czechia Funding volume
The Czech Republic continues to establish itself as a vibrant hub for venture capital activity in Eastern Europe, with 2023 proving to be a landmark year for the nation's startup ecosystem. According to Dealroom, with a total of €173.1 million raised, Czechia secured the fourth position in the region for total capital raised, showcasing its growing appeal to investors and innovators alike.
Czechia Investment in key sectors
Czechia continues to thrive thanks to significant investments in technology and education, which play a vital role in enhancing its economic resilience and boosting its competitiveness. Both public and private investments have been pivotal in developing a robust innovation ecosystem and improving the quality of life across the country.
