Where is Latin America on the world map of innovation excellence? According to INSEAD’s Global Innovation Index, the whole region is pretty much nowhere. The bleak news from the 2011 index, published about 6 months ago, is that only Chile made it into the top 40 (at number 38). Costa Rica and Brazil followed, at numbers 45 and 47 respectively. Then came Argentina, ranked at 58, and Uruguay at 64. Colombia, Paraguay and Panama were all ranked in the 70s, Mexico, Peru and Guatemala in the 80s, El Salvador, Ecuador and Honduras in the 90s, and finally Venezuela came in at 102, Nicaragua at 110 and Bolivia at 112, which puts these last three economies almost on a par with countries like Swaziland, Tanzania, Rwanda, Cambodia and Madagascar.
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