Despite the devastating impact of the COVID-19 pandemic on humans and global economies, governments and businesses around the world have boosted their efforts in innovation.<\/p>\n
Intellectual property filings, Research & development\u00a0spending, and Venture capital funding increased in 2021, expanding on the pre-crisis peak performance that had already been achieved.<\/p>\n
The Global Innovation Index (GII) 2021 edition uses 81 different metrics to offer the most recent global innovation rating of 132 economies.<\/p>\n
The COVID-19 pandemic’s effects on innovation are a key topic in this edition of the new Global Invention Tracker, which tracks the most recent trends in global innovation.<\/p>\n
The GII’s comprehensive formula for assessing an economy’s capacity and output for innovation offers clarity for decision-makers in business, government, and other sectors as they prepare to develop regulations that will help their citizens innovate and produce more effectively.<\/p>\n
Key innovation trends are captured by the Global Innovation Tracker, a new element of the Global Innovation Index 2021.<\/p>\n
The rating takes into account things like the amount spent on Research & development activities, the number of domestic patent applications, and the number of domestic publicly traded high-tech firms.<\/p>\n
With a score of 65.5 out of 100, Switzerland came out on top, earning the title of the world leader in innovation for the eleventh time.<\/p>\n
The United States completes the top three, followed by Sweden in second place.<\/p>\n
South Korea, which rose from number 10 in 2020 to rank 5 in 2021, was one of the rankings’ major winners.<\/p>\n
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Read more on Crenov8:<\/b><\/p>\n
In what ways can Governments Help to Spur Innovation and Foster a more Diverse and Inclusive Economy<\/a><\/p>\n