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Home Analysis Bangladesh’s Way Downhill in the Global Innovation Index 2016

Bangladesh’s Way Downhill in the Global Innovation Index 2016

INTELLECT DESK
Bangladesh’s Way Downhill in the Global Innovation Index 2016

The Global Innovation Index is a ranking system for 128 countries and economies around the world that determines their innovation performance based on 82 indicators. Published annually since 2007, the GII is now a leading benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. In its 9th edition this year, Bangladesh has fared quite poorly among its neighbouring countries and the world in ranking. 
Co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO, a specialized agency of the United Nations), Bangladesh has ranked 117 out of 128 countries across the globe. In 2015, Bangladesh’s position was 129 out of 141 but this year its score has come down to 22.9 points in a scale of 1 to 100 from the previous year’s 23.7 points.
Published on Monday, the GII 2016 themed ‘Winning with Global Innovation’, Bangladesh has been given its worst ever score of 12.4 in human capital and research, and has ranked 124th in that area. The country has subsequently ranked 121st with 15.1 score in creative outputs, 118th with 43.3 in institutions, 111th with 16.3 in knowledge and technology outputs, 110th with 13.1 in business sophistication, 105th with 30.7 in infrastructures and 83rd with 40.5 in market sophistication. 
Amongst Bangladesh’s closest neighbouring countries, India has seen a progressive growth in their ranking, moving up from 81st last year to 66th according to this year’s overall global rankings. The GII 2016 states India now ranks among the top 50 economies overall in two pillars: Market sophistication, 33, and knowledge and technology outputs, 43. Apart from those two specific fields, India has maintained stable or improved rankings across all pillars, with the most significant improvements in Human capital and research, up 40 spots, and Business sophistication, up 59 spots. Others include Nepal ranking 115 and Pakistan ranking 119. 
Among the top-ranking countries, four economies - Japan, the US, the UK, and Germany - proved their “innovation quality” by the calibre of universities, number of scientific publications and international patent filings. 
“Investing in innovation is critical to raising long-term economic growth,” said WIPO director general Francis Gurry, “In this current economic climate, uncovering new sources of growth and leveraging the opportunities raised by global innovation are priorities for all stakeholders.”
The GII 2016 further lists China, a leader among middle-income countries, has joined the ranks of the world’s 25 most innovative economies with a ranking of 25 and a score of 50.57. The GII 2016 ranks list Switzerland claiming the 1st spot, following by Sweden, the United Kingdom, the United States of America, Finland and Singapore, respectively. 
For the list of the full rankings, please  visit http://www.wipo.int/publications/en/details.jsp?id=4064 and download the PDF.

August 18, 2016
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