Global Innovation Index

The index was started in 2007 by INSEAD and World Business,^[1]: 203 a British magazine. It was created by Soumitra Dutta.^[4]

The index is computed by taking a simple average of the scores in two sub-indices, the Innovation Input Index and Innovation Output Index, which are composed of five and two pillars respectively. Each of these pillars describe an attribute of innovation, and comprise up to five indicators, and their score is calculated by the weighted average method.^[5]

Since its inception in 2007, an increasing number of governments systematically analyze their annual GII results and design policy responses to improve their performance.^{[6][7][8][9][10]} The index is mentioned in a resolution on science, technology and innovation for sustainable development adopted on 19 December 2019 by the General Assembly of the United Nations.^[11]

The index has been criticized for giving excessive significance attributed to factors that aren’t integral to innovation. For instance, “Ease of Paying Taxes“, “Electricity Output“ (half-weightage) and “Ease of Protecting Minority Investors” are factors alongside “Ease of Getting Credit” and “Venture Capital Deals“.^[12]

Every two years the GII covers a theme related to innovation which goes beyond the innovation rankings. In 2020, the theme was “Who will finance innovation?” shedding light on the state of innovation financing by investigating the evolution of existing mechanisms and pointing to progress and remaining challenges. Previous GII themes covered health innovation, environmental innovation, agricultural and food innovation, and others.^[13]

The top 50 ranking for 2023:^[14][15]

Rank	Country	Score
1	Switzerland	67.6
2	Sweden	64.2
3	United States	63.5
4	United Kingdom	62.4
5	Singapore	61.5
6	Finland	61.2
7	Netherlands	60.4
8	Germany	58.8
9	Denmark	58.7
10	South Korea	58.6
11	France	56.0
12	China	55.3
13	Japan	54.6
14	Israel	54.3
15	Canada	53.8
16	Estonia	53.4
17	Hong Kong	53.3
18	Austria	53.2
19	Norway	50.7
20	Iceland	50.7
21	Luxembourg	50.6
22	Ireland	50.4
23	Belgium	49.9
24	Australia	49.7
25	Malta	49.1
26	Italy	46.6
27	New Zealand	46.6
28	Cyprus	46.3
29	Spain	45.9
30	Portugal	44.9
31	Czech Republic	44.8
32	United Arab Emirates	43.2
33	Slovenia	42.2
34	Lithuania	42.0
35	Hungary	41.3
36	Malaysia	40.9
37	Latvia	39.7
38	Bulgaria	39.0
39	Turkey	38.6
40	India	38.1
41	Poland	37.7
42	Greece	37.5
43	Thailand	37.1
44	Croatia	37.1
45	Slovakia	36.2
46	Vietnam	36.0
47	Romania	34.7
48	Saudi Arabia	34.5
49	Brazil	33.6
50	Qatar	33.4

• International Innovation Index