WIPO
- | March 13, 2024
Why do some economies innovate more efficiently than others – translating their innovation investments into important outputs with greater value for money?
While the Global Innovation Index 2018 is most famous for its innovation ranking of 126 economies, WIPO and its GII partners also uncover insights by alternatively evaluating the GII’s 80 indicators, which range from R&D and education expenditures to international patent applications and mobile-app creation.
One set of findings shows how some economies are doing more with less – “efficient innovators” – handing an important tool to WIPO’s member states and others interested in fostering innovative economies.
The most successful of these so-called efficient innovators have found a policy mix that helps maximize return on innovation investments across the economy.
In the chart above, the grey line indicates the prediction values of innovation inputs and outputs for all economies surveyed by income group. Those above the line are comparatively efficient innovators. Those below the line have work to do. The upper-right quadrant, far above the line, is the sweet spot: High-value inputs (like the availability of researchers or graduates in science and engineering) that result, efficiently, in high-value outputs (like high and medium-high tech manufactures).
Here you find countries like Switzerland (CH), the Netherlands (NL), Sweden (SE) and the United States of America (US). From the GII findings:
“Efficient innovation” is just one of many ways the Global Innovation Index parses its rich data set, taking the GII insights beyond its reputed ranking – and adding an array of perspectives and comparisons than can help policy makers and business leaders find the right way to stimulate innovative activity.
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