Denmark tops the first-of-its-kind Global Cleantech Innovation Index

by ClickGreen staff. Published Mon 27 Feb 2012 00:01
Denmark tops new cleantech report
Denmark tops new cleantech report

Denmark provides the best conditions for clean technology start-up companies followed by Israel, Sweden, Finland and the US, according to the first Global Cleantech Innovation Index.

Cleantech Group and WWF have today published the inaugural 'Coming Clean: The Global Cleantech Innovation Index 2012' report, which looks at where entrepreneurial cleantech companies are growing today, where they will spring-up over the coming years, and which countries are falling above and below the curve for fostering cleantech innovation.

Thirty-eight countries were evaluated on 15 indicators related to the creation and commercialisation of cleantech start-ups, generating an index measuring each one’s potential, relative to their economic size, to produce entrepreneurial cleantech start-up companies and commercialise clean technology innovations over the next 10 years.

“The global macro-economic landscape is shifting; fostering entrepreneurial start-ups and growth companies with clean technology solutions will be an increasingly important part of countries’ competitiveness on the world stage” said Richard Youngman, Managing Director Europe & Asia, Cleantech Group.

The four top scoring countries were Denmark, Israel, Sweden and Finland. These countries all have small economies and while they are the source of much innovation, they have less ability to scale-up companies. These small countries need innovative approaches and collaboration to compensate for the lack of large domestic markets and inconsistent availability of finance throughout a company’s life-cycle.

“This index shows that several countries are on the right track, but clearly much more needs to be done if we are to properly address climate change and achieve a transition towards a global 100 percent renewable future,” said Samantha Smith, leader of WWF’s Global Climate and Energy Initiative.

“The overwhelming majority of capital required for making the transition to a low-carbon future will come from a variety of private sources. Developing a working recipe for strengthening the flow of public-private finance towards early as well as later stage cleantech is key for countries that want to taste the economic success of cleantech,” she added.

North America and northern Europe emerged as the primary contributors to the development of innovative cleantech companies.

The US placed fifth in the Index. However in absolute terms, without factoring in economic size, the United States leads in many measures of cleantech innovation: the country has the greatest public cleantech R&D budget, the greatest number of cleantech start-ups and investors, as well as the most venture capital, private equity, and M&A deals in cleantech.

However, the Asia Pacific region performs well when it comes to scaling up entrepreneurial cleantech companies to wider commercial success and revenue creation.

Whilst currently seeing fewer emerging cleantech start-ups and placing 13th, China leads in cleantech manufacturing, is strong in early-stage growth, and shows potential to produce more early stage innovation in the future.

The country is rapidly gaining access to funding due to success in raising money for cleantech-focused funds. Additionally, China has been home to the majority of cleantech IPOs since 2009, many of which listed on the recently established ChiNext board of the Shenzhen stock exchange.
Similarly, India scores 12th but is performing well in fund raising towards Cleantech focused funds and has much activity in later stage Cleantech companies.



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