Qatar ranks fifth in innovation index

Date

9/19/2015 10:40:39 PM

(MENAFN- The Peninsula)

BY SACHIN KUMAR

DOHA: Qatar has ranked fifth in Northern Africa and Western Asia region in Global Innovation Index (GII) released on Thursday by leading business schools and World Intellectual Property Organisation.

In the GCC Qatar has ranked third. In the category of Northern Africa and Western Asia region which has 19 countries Israel has secured top slot Cyprus is second Saudi Arabia third and the UAE fourth. In the overall ranking of 141 countries around the world Qatar has secured 50th rank.

“Many resource-rich economies in the region (Northern Africa and Western Asia) have started to diversify and spur innovation in new sectors. This has allowed for Saudi Arabia (43) the UAE (47) and Qatar (50) to achieve top GII positions within the region as well” said the report.

Switzerland the UK Sweden the Netherlands and the US are the world’s five most innovative nations according to the index and China Malaysia Vietnam India Jordan Kenya and Uganda among countries outperforming economic peers.

GII co-published by Cornell University INSEAD and WIPO surveys 141 economies around the world using 79 indicators to gauge innovative capabilities and measurable results.

Innovation policies occupy a central role in developing and emerging economies where promoting innovation is central to development plans and strategies and key to addressing societal problems such as pollution health issues poverty and unemployment.

Published annually since 2007 GII is a leading benchmarking tool for business executives policymakers and others seeking insight into the state of innovation around the world.

GII 2015 is calculated as the average of two sub-indices. Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars — Institutions Human Capital and Research Infrastructure Market Sophistication and Business Sophistication.

Innovation Output Sub-Index captures evidence of innovation results divided in two pillars — Knowledge and Technology outputs and Creative outputs. The index is submitted to an independent statistical audit by Joint Research Centre of European Commission.

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