Australia has moved up the ranks this year from seventh to fourth place on the Scientific American Worldview Scorecard.
The Scorecard is measured by a matrix system in which each country is scored on seven categories: Productivity, Intellectual Property Protection, Enterprise Support, Intensity, Education/Workforce, Foundations, and Policy and Stability. The scores are normalised from 0-10 for each category and then indexed for an overall score from 0-50.
With an overall score of 28.3, Australia ranked behind the US (39.6), Singapore (31.7) and Denmark (29.7). Australia was ranked in the upper echelons in the following categories:
- Greatest public company revenues (US, UK, Australia)
- Most public companies (US, Australia, Canada)
- Greatest public company market cap (US, Australia, UK)
- Most public company employees (US, Australia, France)
- Best brain gain - share of global graduate students (US, UK, Australia)
- Largest public markets for biotechnology (US, Australia, UK)
- Best growth in biotechnology public markets (US, Australia)
Australia ranked second, behind the United States, in the category of Intellectual Property Protection which was measured on perceived IP protection and patent strength – each vital features of biotechnology innovation.