The Global Innovation Index (GII) 2020 has been released

The 13th edition of the Global Innovation Index (GII) was released today. The study was published by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD, and “consists of a ranking of world economies’ innovation capabilities and results”. 

The Brazilian National Confederation of Industry (CNI), the 3DEXPERIENCE Company (Dassault Systèmes), and the Confederation of Indian Industry (CII) collaborated as Knowledge Partners by “supporting the elaboration of the GII”. 

The theme of this year’s report is Who Will Finance Innovation?, which is timely and relevant in light of the COVID-19 pandemic. 

WIPO shared some findings in the press release published today: 

• “The COVID-19 crisis hit the innovation landscape at a time when innovation was flourishing. 
• [T]he money to fund innovative ventures is drying up. VC deals are in sharp decline across North America, Asia, and Europe. 
• The impact of this shortage in innovation finance will be uneven, with the negative effects felt more heavily by early-stage VCs [Venture Capital], by R&D-intensive start-ups, and in countries that are not typically VC hotspots. 
• The COVID-19 crisis has already catalyzed innovation in many new and traditional sectors, such as health, education, tourism and retail.” 

The ranking of the Global Innovation Index (GII) 2020 is topped by Switzerland, Sweden, the United States of America, the United Kingdom, and the Netherlands. 

Some highlights contained in the GII 2020 study are: 

• The United States of America “hosts the largest number (25) of top science and technology clusters in the world”. 
• Brazil, Mexico, and Argentina “host global R&D companies … [and rank] in the new indicator global brands value [7.1.2] … [as they have] many more valuable brands than their income levels would predict.” 
• Seven European countries rank the top 10 of the GII. 
• Switzerland has topped the ranking for the last ten years. 
• Sweden stands out for “a solid human capital and research system, coupled with a sophisticated market with innovative firms”. 
• South Africa ranks “first in market capitalization and ninth in domestic credit to the private sector”. 
• Kenya stands out for “holding the record of being innovation achievers for ten consecutive years”. 
• Israel ranks as “a top innovation player, especially in ICT services exports”. 
• India is “the third most innovative lower middle-income economy in the world”. 
• China ranks in indicators related to “patents, utility models, trademarks, industrial designs, and creative goods exports”. 

The GII 2020 regional innovation leaders for Northern America (NAC) are: 

1. United States of America (GII rank: 3) 
2. Canada (GII rank: 17) 

The top 5 GII 2020 regional innovation leaders for Latin America and the Caribbean (LCN) are: 

1. Chile (GII rank: 54) 
2. Mexico (GII rank: 55) 
3. Costa Rica (GII rank: 56) 
4. Brazil (GII rank: 62) 
5. Colombia (GII rank: 68) 

The top 5 GII 2020 regional innovation leaders for Europe (EUR) are: 

1. Switzerland (GII rank: 1) 
2. Sweden (GII rank: 2) 
3. United Kingdom (GII rank: 4) 
4. Netherlands (GII rank: 5) 
5. Denmark (GII rank: 6) 

The top 5 GII 2020 regional innovation leaders for Sub-Saharan Africa (SSF) are: 

1. Mauritius (GII rank: 52) 
2. South Africa (GII rank: 60) 
3. Kenya (GII rank: 86) 
4. United Republic of Tanzania (GII rank: 88) 
5. Botswana (GII rank: 89) 

The top 5 GII 2020 regional innovation leaders for Northern Africa and Western Asia (NAWA) are: 

1. Israel (GII rank: 13) 
2. Cyprus (GII rank: 29) 
3. United Arab Emirates (GII rank: 34) 
4. Turkey (GII rank: 51) 
5. Armenia (GII rank: 61) 

The top 5 GII 2020 regional innovation leaders for Central and Southern Asia (CSA) are: 

1. India (GII rank: 48) 
2. Islamic Republic of Iran (GII rank: 67) 
3. Kazakhstan (GII rank: 77) 
4. Uzbekistan (GII rank: 93) 
5. Kyrgyzstan (GII rank: 94) 

The top 5 GII 2020 regional innovation leaders for South East Asia, East Asia, and Oceania (SEAO) are: 

1. Singapore (GII rank: 8) 
2. Republic of Korea (GII rank: 10) 
3. Hong Kong, China (GII rank: 11) 
4. China (GII rank: 14) 
5. Japan (GII rank: 16) 

Review here the Global Innovation Index (GII) 2020 and here the rankings for all regions. Meanwhile, you can watch here the video of the highlights of the GII study. 

More findings of the GII 2020 regional innovation leaders for Latin America and the Caribbean by this Kat can be reviewed here (in Spanish). 

Sources: 

Press release published by WIPO. 

Cornell University, INSEAD, and WIPO (2020). The Global Innovation Index 2020: Who Will Finance Innovation? Ithaca, Fontainebleau, and Geneva. 

Credit: image of Garik Barseghyan on Pixabay.