Global Innovation Index

The World Intellectual Property Organization (WIPO) recently released the Global Innovation Index (GII) 2022 in which Switzerland has emerged as the world's most innovative economy for the 12th consecutive year.

About Global Innovation Index (GII):

• The Global Innovation Index (GII) is an annual ranking of countries by their capacity for, and success in, innovation.
• It is published by Cornell University, INSEAD, and the World Intellectual Property Organization, in partnership with other organisations and institutions, and is based on both subjective and objective data derived from several sources, including the International Telecommunication Union, the World Bank and the World Economic Forum.
• The overall GII scoreis the simple average of the Input and Output Sub-Index scores.
  • The Innovation Input Sub- Indexis comprised of five input pillars that capture elements of the national economy that enable innovative activities:
    • Institutions,
    • Human capital and research,
    • Infrastructure,
    • Market sophistication, and
    • Business sophistication.
  • The Innovation Output Sub- Indexprovides information about outputs that are the results of innovative activities within the economy. There are two output pillars:
    • Knowledge and technology outputs and
    • Creative outputs.
  • The Innovation Efficiency Ratiois the ratio of the Output Sub-Index score over the Input Sub-Index score. It shows how much innovation output a given country is getting for its inputs.

Key highlights of Global Innovation Index (GII) 2022:

• Moving into its 15th edition in 2022, the Global Innovation Index has been a leading reference for measuring an economy’s innovation performance.
• A large number of countries use the GII to assess and improve their innovation ecosystems and use the GII as a reference in economic plans and/or policies.
• India secured the 40th position in the Global Innovation Index. This is the first time the country entered the top 40. Last year, India was at the 46th position.
• The index shows that emerging economies including, India and Turkey, are showing consistently strong performance.
  
  
  
  
• This edition's thematic focus on the future of innovation-driven growth provides a stance on whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts - the Digital Age and the Deep Science Innovation waves - bring about an economic uplift.
• Switzerland is the most innovative economy in the world in 2022 - for the 12th year in a row - followed by the United States, Sweden, the United Kingdom and the Netherlands.
• China is nearing the top 10 while Turkey and India enter the top 40 for the first time.