UN World Intellectual Property Organization (WIPO) published the 17th Global Innovation Index (GII), Day.Az reported on Saturday.
The index, covering the economies of 133 countries, is compiled on the basis of approximately 80 indicators that reflect the potential, efficiency and framework conditions of innovation activity. The analyzed indicators cover a wide range of information – legislation, science and education, indicators of market development, business, infrastructure, etc.
The 2024 GII rating consists of 7 indicators of innovation activity, included in two main sub-indices – “Innovation inputs” and “Innovation outputs”.
The sub-indices “Innovation resources” (institutions, human capital and science, infrastructure, market and business development) and “Innovation results” (dissemination of knowledge and technology, results of creative activity) reflect the innovative elements of the countries’ economies and the actual results of innovation activities.
The leader of the GII 2024 ranking is Switzerland. The top five also included Sweden, the USA, Singapore and the UK. The top ten innovative countries also include Korea, Finland, the Netherlands, Germany and Denmark. China took 11th place.
Azerbaijan ranks 95th in the GII 2024 ranking.
According to the “Institutions” indicator, which reflects indicators of the effectiveness of public administration, the quality of regulation and political stability, Azerbaijan is in 51st place.
According to the sub-indicator “Business Environment”, which is an indicator of a favorable environment for innovation and business development, Azerbaijan has risen two levels and ranks 15th. According to the sub-indicator “Stability of business policy,” Azerbaijan improved its position in the ranking by 3 points (19th place), ahead of most countries in the region.
According to the Business Development indicator, our country ranks 67th.
Azerbaijan is a leader among the countries of the South Caucasus in terms of indicators of cooperation between universities and industry in the field of scientific research and development (30th place) and the state of cluster development (29th place). These indicators reflect the close collaboration between science and the private sector, which is important for stimulating research and innovation. The government supports the creation of industrial clusters and cooperation in research and development, which is a key element of Azerbaijan’s 2030 agenda.
As can be seen from the report, the reforms implemented in our country have had a positive impact on the business and investment environment.
Azerbaijan improved its position in the Patents sub-indicator (50th place) according to the Knowledge and Technological Results indicator. According to GII experts, the country has improved its position on this important indicator of innovation activity and risen by 13 points. This result is the highest in the South Caucasus region. In addition, Azerbaijan ranked 72nd in the number of patents filed under the Patent Cooperation Treaty (PCT), up 15 positions compared to last year, and 49th in the Utility Models indicator.
According to the sub-indicator “Labor productivity growth”, Azerbaijan rose by 34 positions and took 28th place. This became possible thanks to the introduction of advanced technologies in industry and production, the development of intellectual work, advanced training of workers and other similar measures.
Azerbaijan also rose 17 positions to 49th place in the Trademarks sub-indicator of the Creative Outcomes indicator, ahead of many countries in the region.
Despite the fact that Azerbaijan ranks 94th in the Education and Human Capital indicator, significant progress has been made in the education sector, especially in student-teacher ratio (20th place) and public investment in education (53rd place) ). In addition, Azerbaijan ranks 45th in terms of the number of graduates in the field of science and technology. This leading position indicates a strong technical talent base needed to drive innovation, particularly in sectors such as technology, research and engineering. Azerbaijan’s leading position in the number of corporate investors focused on research and development (41st place) shows that corporate investment in research and development has become an important part of the country’s innovation ecosystem.
Reforms in the education sector and investments in human capital are already producing positive results. However, there is a need to continue to strengthen collaboration between education and industry.
Regarding the set of indicators “Results of Creative Activity”, “Infrastructure” and “Market Development”, GII experts believe that the issues of attracting venture capital to the country, increasing the export of high technologies and increasing the availability of credit for the private sector should remain the focus of attention. The indicator shows that the business environment is improving in Azerbaijan and a strong innovation base is being created. Against this background, it becomes relevant to introduce mechanisms for financing startups and high-tech sectors, increase commercialization and technology transfer, strengthen mechanisms that transform research into economic results, and continue to support digital infrastructure, high-tech industry and innovation.