The National Geographic describes Germany as “Europe’s strongest economic and industrial power”, considering the time and energy Germany puts into analysis, technology, science, and education.Germany conjointly includes a history of being scientifically minded. It won the primary Nobel prize in 1901, and before World War II had a lot of philanthropist laureates for science than the other country.
In the World Economic Forum’s latest Report, Deutschland came prime because the world’s most innovative economy.According to the new index, the speed at which countries will adopt new ideas, ways and product can offer them a competitive edge because the Fourth technological revolution continues rapidly.
Reasons Behind Germany’s Innovative Strengths
Economy with vision
In 2015, Germany had 371 patents with world market potential per one thousand inhabitants which was more than the USA (200) and China (27), but less than Switzerland (612), Sweden (445) and Japan (387). In 2016, German enterprises spent 158.8 billion euros on innovation. More than three-quarters of this total was spent by industry. At the end of 2017, corporations in Deutschland held 42% of the patents valid for the German market in this cutting-edge technology. German manufacturers are in the first position, well ahead of Japanese (28%) and USA applicants (11%). If considering only the patents granted in 2017, Germany accounts for 38% of the grants, Japan for 30% and the USA for 13%. Among the manufacturers, Audi AG held the most patents at the end of last year, followed by Toyota and Volkswagen.
New funding record in research and development
Germany has been investment additional funds in research and development (R&D) in recent years than ever before. The Federal Government’s expenditure on R&D rose by 9.0 billion euros between 2005 and 2017 to 17.2 billion euros (target) in 2017. This represents a rise of over 90%. By 2025 at the latest, Germany aims to spend an annual 3.5 per cent of its GDP on research and development.
Germany accounts for 30% of all R&D expenditure in the European countries; five of Europe’s ten most innovative companies come from Germany. It features as one of the world’s leading locations of innovation in international ranking exercises. Both the European Innovation Scoreboard of the European Commission and the Global Innovation Index place Deutschland among the leading countries for innovation. Germany is also a worldwide leader in patent applications. It accounts for nearly twice as many patents with world market relevance per million citizens as the USA.
Strong networking in politics, industry and science
German politics, industry and science work together is illustrated by an exceptional network: in the five international metropolises New York, São Paulo, Moscow, New Delhi and Tokyo, the German Houses for Research and Innovation (DWIH) unite the decisive actors of Germany’s innovation landscape.
Fields with a future
The federation presently invests the very best amounts of funding in health analysis, health trade, Aerospace research, energy analysis and technologies, large-scale instrumentality for basic analysis.