|15 August 2015|
China has entered the higher echelons of the world’s most innovative nations, according to a new report. The country is in the top 25 Global Innovation Index (GII), released today by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).
“Investing in innovation is critical to raising long-term economic growth,” says WIPO Director GeneralFrancis Gurry. “In this current economic climate, uncovering new sources of growth and leveraging the opportunities raised by global innovation are priorities for all stakeholders.”
Among the GII 2016 leaders, four economies — Japan, the US, the UK, and Germany— stand out in “innovation quality,” a top-level indicator that looks at the strength of universities, number of scientific publications and international patent filings. China moves to 17th place in innovation quality, making it the leader among middle-income economies for this indicator, followed by India which has overtaken Brazil.
Soumitra Dutta, Dean, Cornell College of Business, and co-editor of the report, points out: “Investing in improving innovation quality is essential for closing the innovation divide. While institutions create an essential supportive framework for doing so, economies need to focus on reforming education and growing their research capabilities to compete successfully in a rapidly changing globalised world.”
Johan Aurik, Managing Partner and Chairman of GII Knowledge Partner A.T. Kearney, the global consultancy, said: “Digital has become a primary driver of strategy development and innovation for business in almost all sectors; I am convinced we are only at the beginning. Notably for established organisations, the challenge lies in finding ways to successfully innovate by using and transforming existing resources and business practices. Realising success in today’s new landscape requires creative, forward-thinking strategies that embrace digital and address the need to change the fundamental ways of working in the company.”
- Switzerland (Number 1 in 2015)
- Sweden (3)
- United Kingdom (2)
- United States of America (5)
- Finland (6)
- Singapore (7)