By Geetha Kandiah

Innovation is a key driver of economic growth, competitiveness, and societal progress. The Global Innovation Index (GII) 2024 serves as a critical benchmark to assess the innovation capabilities and performances of countries worldwide. Published annually by the World Intellectual Property Organization (WIPO) in collaboration with other international organizations and academic institutions, the GII provides insights into how nations foster innovation and intellectual property (IP) to support economic development.

What is the Global Innovation Index (GII)?

The GII is a comprehensive ranking system that evaluates the innovation performance of countries based on a combination of input and output metrics. Input metrics include factors that enable innovation, such as infrastructure, human capital, and research investments. Output metrics assess the actual results of innovation activities, such as the number of patents, scientific publications, and creative goods.

By analyzing over 80 indicators, the GII provides a holistic view of national innovation ecosystems. It is widely recognized as a valuable resource for policymakers, business leaders, and academic institutions to identify strengths, weaknesses, and emerging trends in the global innovation landscape.

The Role of GII and Its Stakeholders

The GII serves multiple purposes, including:

• Policy Formulation: Governments use GII data to develop strategies that enhance their innovation ecosystems.
• Business Insights: Companies leverage the report to identify investment opportunities and strategic partnerships.
• Academic Research: Scholars analyze the GII to study innovation trends and their implications for economic development.
• Comparative Benchmarking: Countries and regions benchmark themselves against global leaders to identify best practices.

GII 2024 Top 20 Rankings

The GII 2024 top 10 rankings are as shown below:

1. Switzerland
2. Sweden
3. United States of America
4. Singapore
5. United Kingdom
6. Netherlands
7. Finland
8. Denmark
9. Germany
10. Republic of Korea

Traditional leaders like Switzerland, Sweden, the United States, and the Netherlands maintain strong positions due to their robust innovation ecosystems and substantial investments in research and development (R&D). Asian powerhouses such as South Korea and Singapore continue to demonstrate remarkable innovation capabilities.

Countries Indonesia, Mauritius, Saudi Arabia, Qatar and Brazil have climbed the most in the GII over the past five years, whereas the highest climbers are China, India, Iran, Morocco, the Philippines and Türkiye in the past 10 years.

Southeast Asia: How are these nations performing?

The rankings for 2024 are as follows:

1. Singapore: 4th
2. Malaysia: 33rd
3. Thailand: 41st
4. Vietnam: 44th
5. Philippines: 53rd
6. Indonesia: 54th
7. Brunei Darussalam: 88th
8. Myanmar: 125th

Specific rankings for Cambodia and Laos are not detailed in the available sources.

The Southeast Asian region has shown significant progress in innovation, with countries like Vietnam, Indonesia, Singapore, and the Philippines making notable strides.

Vietnam

Vietnam has emerged as a rising star in the GII rankings, driven by strong government support for technology and innovation. The country has invested heavily in R&D, digital transformation, and the development of high-tech zones. Vietnam’s progress in IP is evident from the increase in patent filings and technological advancements in sectors such as electronics and software development.

Indonesia

Indonesia has made steady progress in the GII rankings, thanks to its growing digital economy and startup ecosystem. The government’s focus on fostering innovation through initiatives like “Making Indonesia 4.0” has boosted the country’s innovation landscape. However, Indonesia still faces challenges in IP protection and enforcement, which are crucial for sustaining innovation-driven growth.

Singapore

Singapore consistently ranks among the top innovators globally and remains a leader in Southeast Asia. Its well-established IP framework, world-class research institutions, and business-friendly environment contribute to its high GII ranking. Singapore’s focus on emerging technologies such as artificial intelligence, biotechnology, and fintech underscores its commitment to maintaining its innovation leadership.

Philippines

The Philippines has shown significant improvement in the GII rankings, reflecting its efforts to strengthen its innovation ecosystem. The country has made progress in IP awareness and protection, particularly in the creative industries and digital sectors. Government initiatives to support startups and innovation hubs have further bolstered its innovation landscape.

Insights on IP Progress in Southeast Asia

The progress of Vietnam, Indonesia, Singapore, and the Philippines in the GII rankings underscores the growing importance of intellectual property (IP) in the region. Key insights include:

• Increasing Patent Filings: Countries like Vietnam and Singapore have seen a rise in patent filings, indicating a stronger focus on technological innovation.
• Strengthening IP Frameworks: The Philippines and Indonesia have made efforts to improve their IP protection mechanisms, which are essential for fostering a culture of innovation.
• Digital Transformation: The digital economy is driving innovation in the region, with advancements in e-commerce, fintech, and digital services.
• Government Support: Policy initiatives aimed at promoting R&D and innovation are yielding positive results across the region.

Conclusion: Southeast Asia’s Emergence as an Innovation Hub

Southeast Asia is rapidly emerging as a dynamic and innovation-driven region. The progress of countries like Vietnam, Indonesia, Singapore, and the Philippines in the GII rankings highlights the region’s growing importance in the global innovation landscape. With continued investments in R&D, improvements in IP frameworks, and a focus on digital transformation, Southeast Asia is well-positioned to become a major player in the knowledge-based economy.

Readers who are keen for the full report, can access it here: Global Innovation Index 2024 – WIPO

Stay-tuned for our next article dissecting other parts of the report, including who are the top R&D Spenders and indicators capturing technological progress.