The announcement was made during the launch of the 2023 World Intellectual Property (WIPO) Global Innovation Index (GII), a leading publication in global innovation policy.
The Advisory Board was created in 2011 to advise on the strategic direction of the Global Innovation Index (GII) and assist in sharing the results as they relate to world economies.
The Board is a select group of international policymakers, thought leaders and corporate executives drawn from diverse geographical and institutional backgrounds who participate in a personal capacity.
“Each new edition of the WIPO Global Innovation Index is an opportunity for all stakeholders to reflect on how to build healthy innovation ecosystems. The index provides valuable insight into the policies that make innovation happen and shows the crucial role that business plays in this ecosystem,”Ms Garza said.
WIPO Director General Daren Tang interviewed Ms Garza in a panel discussion during the launch on “Innovation in the face of uncertainty” where she highlighted the importance of SMEs in innovation systems.
“Micro-, small- and medium-sized companies are risk-takers in their innovation strategies. That’s why so much of global innovation comes from them. They are also highly receptive to the help that governments around the world have provided during this period. This includes financial assistance, but more importantly, assistance in capacity-building, including on intellectual property issues,” she said.
Ms Garza also discussed the role of innovation in tackling global challenges.
“We are in need of high rates of innovation now more than ever. To address the risks associated with climate change, the risks of pandemics to global health, and the risks associated with the loss of biodiversity, just to name a few. Those are all challenges that will require innovation from the business community, from government, from civil society. We have to make sure that we design and sustain innovation ecosystems that are up to the global challenges we are facing.”
WIPO Global Innovation Index
The top five countries in the Innovation 2023 Index rankings are: Switzerland, Sweden, United States, United Kingdom and Singapore; in that order.
In the last year global expenditure in research and development (R&D) by the highest R&D spending corporations reached US$ 1.1 trillion in 2022 – a historic high. This shows a keen interest from the business community in betting on innovation as a source of growth.
The Global Innovation Index (GII) takes the pulse of innovation against the backdrop of an economic and geopolitical environment fraught with uncertainty. It reveals the most innovative economies in the world, ranking the innovation performance of around 132 economies while highlighting innovation strengths and weaknesses. Envisioned to capture as complete a picture of innovation as possible, the Index covers around 80 indicators, including measures on the political environment, education, infrastructure and knowledge creation of each economy.
The different metrics that the GII offers help monitor performance and benchmark developments against economies within the same region or income group.
ICC supports the evidence-based policy discussions that the GII promotes, and the findings it provides for active business participation in global innovation policy.
Find the latest edition of the WIPO Global Innovation Index here: https://www.wipo.int/global_innovation_index/en/