A recent report by the World Intellectual Property Organization (WIPO) revealed that Israel isa virtual world power when in comes to inventions and patents, Yedioth Ahronoth reported Sunday.
WIPO data ranked Israel the fourth most prolific nation in the world in its invention-per-resident ratio. The organization is responsible for the promotion and protection of intellectual property worldwide.
The data suggests that every Israeli is responsible for coming up with 0.17 inventions a year. The top three WIPO countries are Finland, with 0.21 inventions per-resident a year, Japan (0.22) and Sweden (0.22).
Israel is followed by South Korea, the United States, Britain, Australia, France and Canada.
In 2010, the United States was the country whose residents registered the most patents (44,800), followed by Japan, Germany, China and South Korea. Israel was ranked 16th on the overall list in 2010, with 1,480 patents.