In February 2008 European Commission has published European Innovation Scoreboard 2007, which is a 
comparative analysis of innovation perfromance of different countries.

The countries were measured on the scale form 0 to 1, where 1 is maximum score. 

25 innovation indicators in the 2007 EIS have been classified into five dimensions to better capture the various aspects of the innovation process. Innovation drivers measure the structural conditions required for innovation potential, Knowledge creation measures the investments in R&D activities, Innovation & entrepreneurship measures the efforts towards innovation at the firm level, Applications measures the performance expressed in terms of labour and business activities and their value added in innovative sectors, and Intellectual property measures the achieved results in terms of successful know-how.

According to the report Sweden (0.73), Finland  (0,64), Denmark (0,61), Germany and UK are the most innovative EU countries and ahead of the US.
Sweden is the most innovative country, largely due to strong innovation inputs although it is less efficient than some other countries in transforming these into innovation outputs.
Poland has been ranked in the very end of the list. Only Turkey, Croatia, Bulgaria, Romania and Latvia were ranked lower than Poland. According to experts Poland convergence period would take at least 20 years.

Source : EUROPEAN INNOVATION SCOREBOARD 2007

http://www.proinno-europe.eu/admin/uploaded_documents/European_Innovation_Scoreboard_2007.pdf