Pakistan has climbed eight spots to 99 in the Global Innovation Index (GII) 2021 prepared by the World Intellectual Property Organization (WIPO).
Moreover to the report, Pakistan ranks 17th among the 34 lower middle-income group economies and 7th among the 10 economies in Central and Southern Asia.
“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.
According to the Global Innovation Index 2021, relative to GDP, Pakistan’s performance this year remained on par with its level of development. Furthermore, the country produced more ‘innovation outputs’ this year relative to its level of ‘innovation investment.’
Among the 34 lower-middle-income countries on the list, Pakistan fares better than most of them in four key areas; Institutions, Business Sophistication, Knowledge and Technology Outputs, and Creative Outputs.
Among the 10 Central and South Asian countries on the list, Pakistan outperforms most of them in key four areas; Institutions, Business Sophistication, Knowledge and Technology Outputs, and Creative Outputs.
The report pointed out that Pakistan has fared the best in the area of Knowledge and Technology Outputs while it has performed the weakest in the area of Market Sophistication.
The GII report has been published by WIPO in collaboration with the Portulans Institute with support from corporate network partners such as the Confederation of Indian Industry, Brazilian National Confederation of Industry, Ecopetrol Group from Columbia and the Turkish Exporters Assembly.
The list said the world’s top innovation leaders in 2021 are Switzerland, Sweden, US, UK, Republic of Korea, Netherlands, Finland, Singapore, Denmark and Germany.
As for the global winners of innovation, Switzerland has been recognized as the most innovative economy in the world for 2021, followed by Sweden, the United States of America (USA), the United Kingdom (UK), and the Republic of Korea.