Global Innovation Index: Iran has fastest innovative performance

The Global Innovation Index (GII), published by the World Intellectual Property Organization (WIPO) in partnership with the Portulans Institute, says Iran has the fastest growing innovation performance. 

The GII also ranks Iran as the second most innovative country in the Central and South Asian regions, saying the country has managed to boost its place by 7 ranks compared to last year. 

The index declared that Switzerland, the US, Sweden, England and the Netherlands are the most innovative economies of the world while China is close to entering the club of the world’s 10 most innovative nations. 

The performance of other emerging economies has also been strong. 

Among other countries, India and Turkey are among the top 40 innovative world countries for the first time. The GII’s 2022 report said the Covid pandemic in 2021, the budgets allocated to research and development work and innovative activities have kept rising, but challenges remain when it comes to translating these investments into economic results. 

The report also says innovation is at a crossroads as the world leaves the Covid-19 pandemic behind. Accordingly, it’s true that innovation budgets increased in 2020 and 2021, but the outlook for 2022 is not good due to global uncertainties. 

The GII concludes that world countries should not only focus on strengthening innovation, but they need to also work toward translating innovation into economic and social outcomes.