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Switzerland, UK, Sweden, Netherlands and USA are most innovative countries.

KARACHI -- Global Innovation Index 2015 has placed Switzerland as the world's most innovative nation followed by the United Kingdom, Sweden, the Netherlands and the United States of America.

The GII, co-published by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO), surveys 141 economies around the world, using 79 indicators to gauge both innovative capabilities and measurable results.

The GlI - 2015 edition Knowledge Partners cited China, Malaysia, Viet Nam, India, Jordan, Kenya, and Uganda are among a group of countries outperforming their economic peers.

As a whole, the group of top 25 performers all high income economies remains largely unchanged from past editions, illustrating that the leaders' performance is hard to challenge for those that follow.

India remains at the top of the regional ranking of Central and Southern Asia this year, followed by Kazakhstan and Sri Lanka, which has significantly improved its position.

It looks at Effective Innovation Policies for Development and shows new ways that emerging-economy policymakers can boost innovation and spur growth by building on local strengths and ensuring the development of a sound national innovation environment.

Innovation holds far-reaching promise for spurring economic growth in countries at all stages of development, however, realizing this promise is not automatic, said WIPO Director General Francis Gurry.

He was of the opinion that each nation must find the right mix of policies to mobilize the innate innovative and creative potential in their economies.

The GII 2015 finds that a well-coordinated innovation policy plan with clear targets and a matching institutional set-up have proven to be a tool for success. GII analysis shows that increasing business sophistication - business linkages to science and its institutions, foreign subsidiaries, and the recruitment of scientists - is often the single biggest challenge in developing economies.

While significant resources are often devoted to attracting foreign multinationals and investment, developing country policymakers should consider how to capture and maximize positive spillovers to the local economy.

An underexplored area in many developing countries is steering innovation and research to context-specific solutions, which may not produce frontier technologies or comprise part of existing global value chains, but which offer solutions to local challenges.

Finding innovative ways to overcome developing country challenges in the area of energy, transportation, sanitation, and getting a greater return on local artisanship and creative industries are a priority.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Sep 21, 2015
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