.. innovation is blossoming around the world…in developed and developing economies alike. Switzerland is the world’s most innovative country followed by Sweden, the United States of America (U.S.), the Netherlands and the United Kingdom (U.K.), according to the GII 2019.
Regional leaders include India, South Africa, Chile, Israel and Singapore, with China, Viet Nam and Rwanda topping their income groups.
The Global Innovation Index, now its 12th edition, is a valuable benchmarking tool that help evaluate status of innovation the ecosystem for it in an economy. Over the years it has emerged as an ‘reference for measuring an economy’s innovation performance’ and it ranks the ‘nearly 130 economies around the world’.
‘The GII 2019 looks at the medical innovation landscape, exploring the role and dynamics of medical innovation as it shapes the future of healthcare, and analyzing the potential influence this may have on economic growth.’
As per the GII 2019, ‘Switzerland is the most innovative country in the world’. And it is followed by Sweden, the United States of America (U.S.), the Netherlands and the United Kingdom (U.K.)’. ‘Regional leaders include India, South Africa, Chile, Israel and Singapore, with China, Viet Nam and Rwanda topping their income groups.‘
The report says, ” Amid economic slowdown, innovation is blossoming around the world; but new obstacles pose risks to global innovation”. ‘Despite economic uncertainty, innovation expenditures have been growing and seem resilient in light of the current economic cycle.’ The GII 2019 observes that ‘ geography of innovation is shifting from high-income to middle-income economies’. And ‘moving from a successful middle-income economy with innovation potential into an innovation powerhouse remains hard. There is an innovation glass ceiling exists that divides middle and high-income economies’.
However, ‘most of the drive to break through that ceiling comes from China and to some extent India, Brazil, and the Russian Federation’.
- United States of America
- The Netherlands
- United Kingdom
Among notable GII key findings (Annex 2) this year:
- The global landscape of science, innovation, and technology has undergone important shifts over the last decades. Middle-income economies, especially in Asia, are increasingly contributing to global research and development (R&D) and international patenting rates via WIPO’s International Patent System;
- The GII 2019 shows that public R&D expenditures – particularly in some high-income economies – are growing slowly or not at all. This raises concerns given the public sector’s central role in funding basic R&D and blue-sky research, which are key to future innovations;
- Increased protectionism poses risks. If left uncontained, it will lead to a slowdown of growth in innovation productivity and diffusion across the globe;
- Innovation inputs and outputs are still concentrated in very few economies. Divides also persist in how effectively economies obtain return on their innovation investments. Some economies achieve more with less;
- Most top science and technology clusters are in the U.S., China, and Germany, whlie Brazil, India, Iran, the Russian Federation, and Turkey also feature in the top 100 list. The top five clusters: Tokyo-Yokohama (Japan); Shenzhen-Hong Kong, China (China); Seoul (Republic of Korea); Beijing (China); San Jose-San Francisco (U.S.).