Kenya ranked 3rd innovative economy in SSA

13 July, 2018, 22:40 | Author: Regina Silva
  • India Climbs To 57th Position In Global Innovation Index Rankings

As in previous years, Switzerland was rated the most innovative country.

The GII is computed by taking an average of the scores in two sub-indices, the Innovation Input Index (Institutions, Human Capital and Research, Infrastructure, Market Sophistication and Business Sophistication) and Innovation Output Index (Knowledge and Technology Outputs, and Creative Outputs).

The latest GII rankings, released in NY on Tuesday, put India at 57th position and China at 17th in 2018 as compared to their last year's rankings of 60th and 22nd respectively, giving insight into their innovation capabilities and results. The country's rank has been improving from the 81 spot in 2015 to the 60 place in 2017.

The Philippines managed to hold on to the 73rd spot among 126 countries in the Global Innovation Index (GII) 2018 and continued to be among the top ten most innovative economies in its group, reflecting a steady and stable innovation performance.

WIPO Director General Francis Gurry said in a statement that China's rapid rise up the table reflected decision by its leadership to develop capacity in innovation and to move its economy towards knowledge-intensive industries.

The Global Innovation Index 2018 is co-sponsored by the U.N. World Intellectual Property Organization.

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The United States came second after China in the volume of researchers, patents and scientific and technical publications, according to the ranking.

"It heralds the arrival of multipolar innovation", he said.

A group of middle and lower-income economies perform significantly better on innovation than their level of development would predict. 20 economies comprise these "innovation achievers" in 2018, three more than in 2017.

Africa's most innovative economies were able to attract higher foreign direct investments (FDI) that translated into more jobs for the youth and increased revenue streams to support social sectors like education and health, although investments in ICTs and creative industry were behind modernization of economies in sub-Saharan Africa. Sub-Saharan Africa boasts six innovation achievers, including Kenya, Rwanda and South Africa, while five economies hail from Eastern Europe.

"Over time, a number of emerging economies stand out for being real movers and shakers in the innovation landscape", says Soumitra Dutta, former dean and professor of management at Cornell University. "Other interesting cases are India, Iran, Mexico, Thailand and Vietnam which consistently climb in the rankings", he said.

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