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EIU Innovation Ranking,Global Innovation Index 2020: What You Need to Know


Global Innovation Index 2020: What You Need to Know

EIU Innovation Ranking,our world has recently reached a high point for global innovation making the world better for all of us but will this continue or will the coronavirus pandemic freeze innovation finance and slow humanities progress the edition of the global innovation index or gii addresses this urgent question and finds that the money to fund innovative ventures is drying up the impact of this shortage will be uneven with effects felt more heavily by young firms r d intensive ups and in developing economies already facing a scarcity of innovation funding still any crisis can bring creative disruption and opportunity the covert pandemic has already led to new international research collaborations it has stimulated interest for innovative solutions in healthcare teleworking education ecommerce mobility and more the gi also presents its annual ranking based on innovation indicators the top of the gi is still led by developed economies with switzerland sweden and the us leading followed by the uk and the netherlands china is an exception and still the only middleincome economy in the gi top ranking 14th for the second year in a row the geography of innovation is continuing to shift towards asia and for the first time a second asian economy the republic of korea enters the top ten alongside singapore which has been in the top for the past decade four countries have seen the most significant progress in their innovation ranking over the past years china vietnam india and the philippines the top economies in the northern africa and western asia region are israel cyprus and the united arab emirates the latin america and caribbean region is led by chile mexico and costa rica topping the rankings for middleincome economies are china malaysia and bulgaria tanzania rwanda and nepal lead their income group innovation levels often reflect economic development with developed countries typically having higher levels of innovation however this year there are countries that outperform relative to their development including georgia jamaica thailand morocco and south africa the african continent is growing in innovation importance out of economies identified in the gi as out performers eight are from subsaharan africa with south africa kenya and rwanda topping this list in latin america and the caribbean jamaica and costa rica are the leading outperforming countries innovation varies between nations and it also concentrates in selected cities and regions the gi identifies the worlds top clusters of science and tokyo yokohama is the top performing cluster followed by shenzhen hong kong guangzhao seoul beijing and san jose san francisco better known as silicon valley the us continues to host the largest number of clusters with followed by china germany and japan six middleincome economies host top clusters brazil china india iran turkey and the russian federation as the world faces innovation uncertainty linked to the global pandemic support needs to widen beyond the health sector and government innovation expenditures should offset any falling private sector innovation funding the gi calls on business and policy leaders around the world to sustain innovation for the benefit of everyone you '