U.S. universities lead the world in scientific innovation but face strong competition from Asian rivals with close ties to industry, according to a detailed analysis of academic papers and patent filings.

The inaugural Reuters Top 100 survey, published on Wednesday, places Stanford University in top spot, reflecting its position as a crucible for new ideas at the heart of Silicon Valley.

Stanford alumni have gone on to create some of the world's biggest technology companies, including Hewlett-Packard, Yahoo and Google.