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PH climbs 9 spots in global innovation index

by August 31, 2016 General

The Philippines climbed nine places to rank as the 74th most innovative country among 128 economies in 2016, according to the 2016 Global Innovation Index report.

The Philippines received a score of 31.83 this year, up from 31.05 in 2015, when it ranked 83rd in the list.

Switzerland topped the global ranking with a score of 66.28, while Yemen was at the bottom of the list with a score of 14.55.

The Trade Department said the report, jointly released by World Intellectual Property Organization, Cornell University and Insead ranked 128 economies in terms of their global innovation index based on 82 indicators.

This 9th edition of the GII explored impacts of innovation-oriented policies on economic growth and development reflected through strategies employed by both high-income and developing countries. Top countries with highest GII include Switzerland, Sweden, UK, the United States, Finland and Singapore.

“We are happy to know that through this GII survey, we know how our country has improved and how Filipinos can achieve the innovation economy that we all aspire for. This would push us to extend more efforts in making innovation as a mindset for every Filipino,” said Trade Industry promotion group undersecretary Nora Terrado.

The GII 2016’s report dubbed as “Winning Global Innovation” discussed the growing importance of innovation among countries today in achieving future economic growth and the sharing of knowledge cross-border through global innovation networks.

Among the indicators used in ranking economies include systems that go beyond the traditional measures of innovation such as the level of research and development that can be applied for both developed and emerging economies.

The Philippines’ biggest gain is seen in human capital and research, where the Philippines ranked 95th from 123rd in 2015. It measured the quality of the country’s education with its research and development.

“Innovation encompasses intensified research and development activities among universities and we hope to tap higher educational institutions with the help of other agencies like the Department of Science and Technology,” said Terrado.

Terrado also highlighted the collaboration of the department and the private sector in advancing the Startup Ecosystem Development Program which will help enhance the climate for startup businesses, increase the success rate of Filipino innovative enterprises in introducing their products and services in the local and international markets.

The country advanced in six other GII indicators: institution (88th from 102nd), infrastructure (72nd from 83rd), market sophistication (94th from 101st), business sophistication (74th from 81st), knowledge and technology outputs (44th from 53rd), and creative outputs (96th from 101st).

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