Global Innovation Index Ranking 2017

On June 15 2017 WIPO has launched global innovation index containing worldwide ranking in term of innovation of year 2017.[1] The theme of the GII 2017, “Innovation Feeding the world,” looks at innovation carried out in agriculture and food system. Switzerland, Sweden, the Netherlands, the USA and the UK are the world’s most-innovative countries, while a group of nations including India, Kenya, and Viet Nam are outperforming their development-level peers.

India holds rank 60th this time. Although improving its rank 66th of previous year but still a long run to go. Switzerland and Sweden maintained their rank 1 and 2 respectively of previous year, this year also. UK dropped down from rank 3 to 5. Switzerland maintained rank from 7 consecutive years now. It has been found that slow and steadily India is emerging as innovation center in Asia.

Global Innovation Index is one of the leading benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. The Global Innovation Index (GII) aims to capture the multi-dimensional facets of innovation by providing by providing a rich database of detailed metrics for 127 economies 0n the basis of metrics, from patent filing to education spending that provide decision makers an upgraded eye on innovation activities that help those countries to increase their economy and social growth.

The aim of GII is to note a continued gap in innovative capacity between developed and developing nations and lackluster growth rates for research and development (R&D) activities, both at the government and corporate levels.

 

“Innovation is the engine of economic growth in an increasingly knowledge-based global economy, but more investment is needed to help boost human creativity and economic output”.

“Innovation can help transform the current economic upswing into longer-term growth.” said WIPO Director General Francis Gurry to the press in press conference regarding the release of Global Innovation Index ranking.[2]

The GII 2017 is calculated as the average of two sub-indices. The Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars:

(1) Institutions

(2) Human capital and research

(3) Infrastructure

(4) Market sophistication

(5) Business sophistication. The Innovation Output Sub-Index captures actual evidence of innovation results, divided in two pillars

(6) Knowledge and technology output

(7) Creative outputs.

Global Innovation index recognize the key role of innovation as a driver of economic growth and prosperity, and the need for a broad horizontal vision of innovation applicable to developed and emerging economies, the GII includes indicators that go beyond the traditional measures of innovation such as the level of research and development.

About the Author: Mohini Sharma, Legal Intern at Khurana & Khurana, Advocates and IP Attorneys. Can be reached at abhijeet@khuranaandkhurana.com

References

[1] Global Innovation Index 2017. (2017, June 15). Retrieved June 16, 2017, from https://www.globalinnovationindex.org/gii-2017-report

[2] Global Innovation Index 2017: Innovation Feeding the World. (2017, June 15). Retrieved from https://www.youtube.com/watch?v=2DPdOZjqYFM

Leave a Reply

Your email address will not be published. Required fields are marked *

three × 2 =

Archives

  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • September 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010