10 years ago, Ocean Tomo shared insights on the World Intellectual Property Organization (WIPO) publishing its 2012 Global Innovation Index (GII). The index uses over 80 indicators to measure a wide array of characteristics related to the innovation ecosystem. The indicators represent both “input” measures and “output” measures. Inputs relate to characteristics in an economy that facilitate innovation, entrepreneurship, and growth, including education, the legal and regulatory environment, infrastructure, and capital markets. Outputs relate to measurable knowledge creation, technological advancement, and creative works. While no single index can perfectly describe or measure a country’s innovation potential or performance, WIPO’s GII is a sophisticated, thorough, and reliable proxy.
WIPO’s GII identifies the most innovative economies in the world, ranking the innovation performance of 132 economies, and highlighting their innovation strengths and weaknesses. The report identifies the fastest-growing scientific sectors and the most innovative tech hubs (“clusters”).
Innovation is at the heart of WIPO’s mission. Since 2007, decision-makers from around the world have relied on the GII to better understand the strengths and weaknesses of national innovation systems and to produce better policy decisions based on data, evidence, and analysis.
Over 10 years later, WIPO’s GII continues to be an invaluable reference for countries wanting to develop new innovation and economic policy strategies and a tool for improving innovation metrics. The United Nations General Assembly has recognized the GII as an authoritative benchmark for measuring innovation within its 2019 and 2021 resolutions on Science, Technology, and Innovation for Sustainable Development. WIPO’s dedication to informed decision-making resonates with us at Ocean Tomo as it mirrors our mission to help our clients future-proof their businesses through services such as Ocean Tomo’s Trade Secret Management & Monetization and Integrated IP Strategy & Monetization.
This year, WIPO’s report explores innovation activity amid the backdrop of the COVID-19 pandemic and supply chain disruptions. The report finds that innovation investment was resilient, and that progress in vaccines, ICT, and renewable energy provides the potential for increases in global living standards and human health. The report asks: Is stagnation and reduced productivity growth here to stay, or are we on the verge of a new era, where the Digital Age and Deep Science reinvigorate innovation and bring about an economic and productivity uplift?
Earlier today, the 15th edition of WIPO’s GII was released during a hybrid event featuring ministers, business leaders, and innovation experts. To learn more about the launch of the World Intellectual Property Organization’s 2022 Global Innovation Index, visit: https://www.wipo.int/global_innovation_index/en/news/2022/news_0001.html
In the coming weeks, I will share my perspective on particular insights from the report—stay tuned. For further information, please contact Dr. Alan Marco at Alan.Marcoemail@example.com or +1(312)327-8040.