The Global Innovation Index 2017 (GII) reports that Switzerland, Sweden, Netherlands, USA and UK are the world’s most- innovative countries, while a group of nations including India, Kenya, and Vietnam are outperforming their development- level peers. The Global Innovation Index 2017 is coauthored by Cornell University , INSEAD and the World Intellectual Property Organization (WIPO).
The key findings show the rise of India as an emerging innovation center in Asia and also shows high innovation performance in Sub-Saharan Africa relative to development and an opportunity to improve innovation capacity in Latin America and the Caribbean . India has moved up six spots to 60th rank in Global Innovation Index 2017 from 66th rank in the last year.
Every year, the GII surveys about 130 economies using various metrics, from patent filings to education spending providing decision makers a high-level look at the innovative activity that increasingly drives economic and social growth. The GII 2017 in its tenth edition surveys 127 economies, notes 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.
Global Rankings as per Global Innovation Index 2017
In 2017, Switzerland leads the rankings for the seventh consecutive year, with high-income economies taking 24 of the top 25 spots where China is the exception at 22. In 2016, China became the first-ever middle income economy in the top 25 ranks.
A group of middle and lower-income economies perform appreciably better on innovation than their current level of development would forecast. A total of 17 economies comprise these ‘innovation achievers’, a slight increase from 2016. In total, nine come from the Sub-Saharan Africa region, including Kenya and Rwanda , and three economies come from Eastern Europe .
Next to innovation powerhouses such as China , Japan , and the Republic of Korea , a group of Asian economies including Indonesia , Malaysia , Singapore , Thailand , the Philippines and Vietnam are actively working to develop their innovation ecosystems and rank high in a number of vital indicators related to education, R&D, productivity growth, high- tech exports, among others.