Switzerland, the United Kingdom and Sweden topped this year’s Global Innovation Index (GII), while Sub-Saharan Africa posted significant regional improvement. Co-Authored by Cornell University Professor Soumitra Dutta, the GII, a composite indicator that ranks countries/economies in terms of their environment to innovation and their innovation outputs, was released in Sydney, Australia, on July 18 at the B20 gathering of international business leaders.
Co-published by Cornell University, INSEAD and the World Intellectual Property Organization, an agency of the United Nations, GII is considered a benchmarking tool for business executives, policymakers and others seeking insight into the state of innovation around the world, a press release from Cornell said.
The study, in its seventh year, surveys 143 economies using 81 indicators to gauge their innovation capabilities and measurable results.
“When reviewing the GII quality indicators, top performing middle-income economies are closing the gap with high-income economies,” the university press release quoted Dutta as saying. “China significantly outperforms the average score of high-income economies across the combined quality indicators. To close the gap even further, middle-income economies must continue to invest in strengthening their innovation ecosystems and closely monitor the quality of their innovation indicators.”
Switzerland remains the leader for the fourth-consecutive year. The United Kingdom moves up a rank to second place, followed by Sweden. A new entry into the top 10 this year is Luxembourg, ranked ninth. The middle-income economies are led by China, followed by Brazil and India.