19 June 2017
The Global Innovation Index is published annually by Cornell University, INSEAD (European institute of Business Administration) and the World Intellectual Property Organization (WIPO). The index is based on 81 separate indicators relevant to innovation including political environment, education and infrastructure. This year the index was dominated by European countries who took eight out of the top ten places. However, some Asian countries suchas Singapore in seventh place, South Korea in eleventh, Japan in 16th and China in 25th also did well.
The top ten countries in 2017 were:
The index also identified the most innovative countries in each region. These were as follows:
North America; USA
Sub-Saharan Africa; South Africa
Latin America and the Caribbean; Chile
Central and Southern Asia; India
Northern Africa and Western Asia; Israel
South East, East Asia and Oceania; Singapore
One pillar of the index is human capital and research, which includes tertiary education and research and development. The latter comprises number of researchers, gross expenditure on research and education, global research and development firms, and average scores in the QS world rankings. In the QS university ranking indicator, the top five countries are USA, UK, China, Switzerland and Canada.
World Intellectual Property Organization