GENEVA, Sept 20, 2021 (BSS/AFP) - The Covid-19 pandemic sped up the shift
of innovation from Europe and North America towards Asia, UN world rankings
showed Monday.
The Global Innovation Index 2021, from the United Nations' World
Intellectual Property Organization, showed surging performances by South
Korea and China.
"The pandemic has accelerated the long-term geographical shift of
innovation activities toward Asia, even if Northern America and Europe
continue to host some of the world's leading innovators," said WIPO.
While the top four in the global rankings remained the same as last year -
- with Switzerland leading for the 11th year running followed by Sweden, the
United States and Britain -- South Korea leapt five places to fifth.
The index found "substantial increases in brand values in Korea, in
trademarks being filed, but also in cultural and creative services exports,"
index co-editor Sacha Wunsch-Vincent told reporters, citing the K-Pop
phenomenon.
The Netherlands, Finland, Singapore, Denmark and Germany round out the top
10.
Meanwhile China continued its progress towards the top 10 and is still the
only middle-income economy in the top 30, up two places to number 12.
Wunsch-Vincent said the country's innovation players were individually
strong and China was now trying to connect them better "so that public
research feeds into commercial innovation".
Turkey (41), Vietnam (44), India (46) and the Philippines (51) are the
only other middle-income nations that are systematically catching up.
"Beyond China, these four particularly large economies together have the
potential to change the global innovation landscape for good," WIPO said.
The index ranks 132 economies. Among low income countries, Rwanda leads
the way in 102nd place, ahead of Tajikistan (103) and Malawi (107).
WIPO's index found that countries and businesses increased investments in
innovation despite the Covid-19 crisis, in a bid to stimulate post-pandemic
economic growth.
Scientific output, research and development, IP filings and venture
capital deals continued to grow in 2020.
Companies whose innovations revolved around measures to contain the
pandemic and its effects -- particularly pharmaceuticals and information
technology -- redoubled their innovation investments.
However, sectors hit hard by coronavirus restrictions, such as travel, cut
back.
"Many sectors have shown remarkable resilience -- especially those that
have embraced digitalisation, technology and innovation," said WIPO director
general Daren Tang.
"As the world looks to rebuild from the pandemic, we know that innovation
is integral to overcoming the common challenges that we face."
Wunsch-Vincent highlighted that beyond top research and development
spenders such as Australia, Germany, Japan and the United States, which all
increased investments, "seven out of 10 economies still devote less than one
percent of GDP to R&D".