The 15 most innovative countries in the world

Every year, the World Economic Forum releases its Global Competitiveness Report on the state of the world's economies.

The WEF looks at data on areas as varied as the soundness of banks to the sophistication of businesses in each country. It then uses the data to compile a picture of the economy of almost every country on earth.

One of the measures WEF looks at is innovation, which takes into account things like the quality of scientific research at universities, company spending on R&D (research and development), collaboration between universities and industry, patents, and the number of engineers and scientists in each country.

Business Insider has rounded up the 15 highest ranked companies for innovation. Check them out: