By the numbers: innovation goes global.
This is no longer true. Other governments have recognized a truth the United States embraced years ago, that innovation is a key driver of economic growth. They have embraced innovation strategies designed to spur prosperity and job growth.
This is clearly visible in the 2014 Global Innovation Index, the latest in a series published annually by Cornell University, The European Institute for Business Administration, and the World Intellectual Property Organization.
GII ranks 143 countries on 81 different indicators. The United States is sixth overall, trailing five European nations and just ahead of Singapore and Hong Kong. While the top 25 countries are all high-income economies, China (ranked 29th) and Malaysia (33rd) could break into the top tier in the very near future.
GII bases its rankings on two sets of factors. The first is inputs. Top performers combine stable, efficient institutions; strong investment in education and research; infrastructure to support innovation (including IT and communications technologies); modern, competitive markets; and business sophistication, including innovation linkages, knowledge workers, and knowledge absorption.
The second set of factors involves innovation outputs. These include knowledge and technology creation, impact, and diffusion; and creative outputs that embrace intangible assets, and goods and services.
The leaders in both sets of innovation factors vary widely, and offer several surprises. The United States may take pride in its entrepreneurial zeal, but it lags behind United Arab Emirates in joint venture deals; behind Luxembourg in knowledge workers; and behind New Zealand in ease of starting a new business.
The United States, however, continues to attract the world's top talent. "U.S. universities have been exceptionally effective in their quest to engage some of the most prominent people in the world, and have simultaneously created an ecosystem for entrepreneurs who have been able to establish some of the globe's biggest organizations," Chandrajit Banerjee, director general of the Confederation of Indian Industry, wrote in the report.
In fact, GII finds that the United States is home to a whopping 75 percent of migrant inventors from low- and middle-income countries. The largest countries of origin are China and India, followed by Russia, Turkey, Iran, Romania, and Mexico.
Relatively few researchers account for a major proportion of overall output, and these innovators are also the most mobile, GII notes. In addition to the United States, the United Kingdom, Switzerland, and Singapore are magnets for valued innovators.
Countries are only beginning to address their brain drain through government policies and economic liberalization. Gil gives Morocco as an example of a nation that has addressed a brain drain.
China now ranks as high as many high-income economies and outscores most in innovation quality. Yet this year India slipped back 10 places, in part because of challenges it faces in replicating throughout the economy the high standards found in its high-tech cities. Russia showed rapid improvement by rising 13 places to 49th.
Sub-Saharan Africa showed the greatest improvement in 2014. Of its 33 nations, 17 rose in the rankings while only 11 declined.
More surprisingly, this region outpaced all others in "innovation learners." These are nations that perform at least 10 percent higher than peers with similar gross domestic products. This shows "that something is happening even in the poorest parts of the globe regarding innovation, said the European Institute's executive director, Bruno Lanvin.
The 2014 Global Innovation Index report is available at www.globalinnovationindex.org/.
TOP-RANKED NATIONS BY KEY INPUTS AND OUTPUTS INPUTS Business sophistication Knowledge workers Luxembourg University-industry collaboration Switzerland Joint venture deals United Arab Emirates International patents Japan Institutions Government effectiveness Finland Regulatory quality Singapore Ease of startups New Zealand Human capital/Research Per-student spending/GDP per capita Mozambique Tertiary engineering/science grads Thailand Reading, math & science test scores China University quality United Kingdom Infrastructure Use of information technologies Sweden Online e-participation Kazakhstan Environmental performance Switzerland Infrastructure and Mongolia capital formation/GOP Market sophistication Importance of microfinancing Bolivia Venture capital deals Israel OUTPUTS Knowledge/Technology Outputs Scientific & technical Iceland article productivity Quality of publications Germany Rate of new business creation Hong Kong, China Royalty/license receipts United States Communications/IT exports India High/medium-high-tech manufactures Ireland Creative outputs Resident trademark applications Paraguay IT & organization innovation Estonia Creative service exports United Kingdom Global entertainment/media output Australia GLOBAL INNOVATION INDEX: THE TOP 10 RANK COUNTRY SCORE 1 SWITZERLAND 64.8 2 UNITED KINGDOM 62.4 3 SWEDEN 62.3 4 FINLAND 60.7 5 NETHERLANDS 60.6 6 UNITED STATES OF AMERICA 60.1 7 SINGAPORE 59.2 8 DENMARK 57.5 9 LUXEMBOURG 56.9 10 HONG KONG (CHINA) 56.8
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|Title Annotation:||TECH BUZZ: TRENDING|
|Author:||Brown, Alan S.|
|Date:||Jan 1, 2015|
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