Russia now ranks 26th on Bloomberg's Innovation Index having dropped 14 places since last year's tally of world's the most innovative economies.
South Korea held its title in first place, followed by Sweden and Germany. In drawing up the agency's ratings, analysts take into account spending on research and development, as well as the number of public high-tech companies in the country.
Russia's fall in the ranking was the most dramatic of all the countries, which Bloomberg reported was due to the effects of international sanctions and low energy prices.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
