The UK is the second most innovative country in the world, according to the World Intellectual Property Office.
Britain ranked above the USA, Singapore and Germany for the third year running in the annual Global Innovation Index (GII) produced by WIPO, a United Nations agency responsible for promoting creativity and the protection of intellectual property rights.
The report highlights the UK's good balance between infrastructure, market sophistication, knowledge, technology and creative outputs, which has seen it rise from tenth in 2011 to second in both 2014 and 2015 - the most rapid increase among the GII top ten.
Speaking at the launch of the GII in London, Business Minister Baroness Neville-Rolfe, said: "The UK has soared ahead in these global innovation rankings over the past few years, a further sign that our long-term economic plan is working.
"We have an outstanding tradition in producing the very best in science and research: with less than 1 per cent of the world’s population we produce 16 per cent of the top quality published research. This is a major factor in the UK maintaining its position at number 2 in the 2015 Global Innovation Index."
Switzerland was named the most innovative country in the world is for the second year in a row, while Sweden, the Netherlands, and the USA filled out the rest of the top five behind the UK.
The GII surveys 141 economies around the world, using 79 indicators to gauge both innovative capabilities and measurable results.
The Global Innovation Index report is available for download.
Sign up to the E&T News e-mail to get great stories like this delivered to your inbox every day.