China among 20 most innovative economies for first time, report says

India Climbs To 57th Position In Global Innovation Index Rankings

India Climbs To 57th Position In Global Innovation Index Rankings

Now in its 11th edition, the index ranks 126 economies based on 80 indicators ranging from the creation of mobile applications to education spending, scientific and technical publications, and intellectual property filing rates.

Kenya was noted to have achieved high levels of innovation relative to its level of development, continuously since 2011.

Its strengths were access to credit (especially microfinance loans), innovation linkages and exports of creative services, such as Research and Development financed by overseas, workforce efficiency and printing and other media.

South Africa shows strengths in its sophisticated market and business sector. Other strong indicators: access to credit, market capitalization, university and industry research collaborations, cluster development and intellectual property payments.

South Africa is improving in the quality of its science papers and its universities, especially for the University of Cape Town, the University of Witwatersrand and Stellenbosch University.

In the global arena, China broke into the world's top 20 most-innovative economies as Switzerland retained its number-one spot in the Global Innovation Index (GII).

In the overall global ranking, Singapore ranked behind Switzerland, the Netherlands, Sweden and the United Kingdom, and beat the USA (which fell from fourth place last year), Finland, Denmark and Germany.

Organisers also noted that after being 22th last year, China's 17th ranking this year "represents a breakthrough for an economy witnessing rapid transformation guided by government policy prioritising research and development-intensive ingenuity".

Although Sweden was once again singled out as one of the world's most innovative countries, the GII also pointed to weaknesses including its pupil to teacher ratio in secondary schools, purchasing power, foreign direct investment (FDI) inflows and productivity growth.

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