It rose two places to 34 globally
The UAE maintains the first position in the Arab world in the Global Innovation Index 2020
The UAE strengthened its position on the Global Innovation Index for the year 2020, as it maintained the first position at the level of Arab countries for the fifth year in a row, while it advanced two ranks on the general classification of the index for this year, to occupy the 34th position in the world.
Regarding the two main components of the Global Innovation Index 2020, which are innovation inputs and outputs, the UAE ranked 22nd globally in innovation inputs, two ranks higher than its ranking in this component for the year 2019, and the country has surpassed in this component a number of countries with leadership in the fields of Innovation, such as Iceland, Luxembourg, China, Spain and Russia, while the country ranked 55th in the world in innovation output, 3 places higher than its ranking last year.
The progress achieved by the country in the overall results of the index reflects significant improvement and positive performance in a set of axes included in the index’s structure, most notably “human capital and research”, “infrastructure”, “business development” and “creative outputs”, in addition to a group of Important from the sub-indicators emanating from these axes, such as "spending on research and development", "electronic participation and use" indicators, "knowledge work", "patent families", "high technology imports", "percentage of research talent in business enterprises" and Creative Goods Exports.
The UAE has also achieved a good position on the new sub-index of "global brand value" under the axis of creative outputs, where it ranked 16th.
The Global Innovation Index ranks countries annually based on their innovation capacity, and in its edition this year, the index measures the innovation performance of 131 countries, representing about 99% of global GDP.
The index report for the current year carried the slogan "Who funds innovation?", Which is of particular importance in light of the economic challenges imposed by the spread of the Covid-19 pandemic and its impact on reducing the financing resources of inventors and entrepreneurs on an international scale.
The report emphasized the importance of cooperation to support the social and technological innovations that are increasingly needed in such circumstances due to their role in development efforts and the transition to a more flexible economic model.
The index was calculated based on 7 main axes and 80 sub-indicators distributed on innovation inputs and outputs, and aims to provide insights on various areas of innovation, as the axes include: (1) institutions, (2) human capital and research, (3) infrastructure, (4) Market development, (5) Business development, (6) Knowledge and technology outputs, (7) Creative outputs.
The Global Innovation Index is used by governments and the private sector to develop their innovation ecosystem and evaluate innovation inputs and outputs.
The Global Innovation Index is one of the indicators of the national agenda for the UAE Vision 2021 within the axis of "a competitive knowledge-based economy", and is supervised by the Ministry of Economy, in cooperation with a number of stakeholders, most notably the Ministry of Education, the Federal Competitiveness and Statistics Authority, the Central Bank, the Ministry of Human Resources and Emiratisation, The Ministry of Finance, the Securities and Commodities Authority, and the Telecommunications Regulatory Authority.
Follow our latest local and sports news, and the latest political and economic developments via Google news