On 2 September 2020, the World Intellectual Property Organization (WIPO) has released its Global Innovation Index 2020 presenting the latest global innovation trends and the annual innovation ranking of 131 economies. The theme of this year’s GII – Who Will Finance Innovation? – is timely given the human and global economic damage wreaked by the COVID-19 global pandemic
The GII 2020 advises that further rounds of support must prioritize and then broaden support for innovation, particularly for smaller enterprises and start-ups that are facing hurdles in accessing rescue packages.
Switzerland, Sweden, U.S., U.K and Netherlands lead the innovation ranking, with a second Asian economy – the Republic of Korea – joining the top 10 for the first time (Singapore is number 8). The top 10 is dominated by high-income countries.