This makes 0 sense to my heavily biased brain. As a Swede that is keeping a close eye on the domestic market, I can't find that many "innovations" taking place in most commercial sectors. R&D means quack-all if you cant translate that research into good and services that the citizens of said country can take advantage of.
Everything is relative. How many other countries had systems like BankID, Swish, doing their taxes online as well as with Skatteverket, etc etc when those came out? how many of those countries have populations smaller than Sweden? How much innovation comes out of Ohio which has a larger population?
A little more innovate than online banking stuff.
https://www.timetoast.com/timelines/technological-innovation...