The 2020 edition of the GII ranks the innovation performance of 131 economies around the world relying on around 80 indicators. These indicators capture the institutional environment for innovation, the education system, research and development activity, the infrastructure for innovation and different forms of knowledge, technology and creative outputs.
The World Intellectual Property Organization released the Global Innovation Index (GII) 2020. As the world is struggling to cope with the implications of the COVID-19 crisis, there is a true risk that innovation expenditures and the means to finance entrepreneurial ventures will spiral downwards as global economic output declines. The impact of this shortage in innovation finance will be uneven, with the negative effects felt more heavily by young firms, by R&D-intensive firms, and start-ups in developing economies.
According to the GII 2020 innovation ranking, Switzerland is the world’s most-innovative country followed by Sweden, the United States of America, the United Kingdom, and the Netherlands.