New Global Innovation Index recognizes innovation as a driver of economic growth

  • 21 July 2014
Intellectual Property

ICC Secretary General John Danilovich took part in panel session to launch the 7th edition Global Innovation Index 2014 (GII) on the occasion of the Business 20 (B20) meeting of international business leaders in Sydney.

During the panel, Mr Danilovich addressed how developing the knowledge and innovation sectors could attain some of the G20’s main targets, which include job creation and economic prosperity.

Mr Danilovich said: “The G20 is looking for all possible drivers of economic growth, including trade and investment in particular. Innovation is a critical engine of business growth and job creation in large and small firms alike. This is not only about research and development but about the whole range of investments that firms and governments make in knowledge. The innovation sector has the largest multiplier effect of all on job creation.”

The panel session entitled: “The Global Innovation Index: How can innovation help achieve the G20 growth targets?” stressed the key role business should play in driving innovative activity. Chaired by Francis Gurry, Director General, World Intellectual Property Organization, other panellists included Yuko Harayama, Executive Member, Council for Science and Technology Policy, Cabinet Office of Japan, Alan Finkel, Chancellor of Monash University, Australia.

A leading reference on innovation, the Global Innovation Index ranks world economies according to innovation capabilities and results. Francis Gurry, Director General, World Intellectual Property Organization (WIPO), described the GII as a “tool of action for politicians and decision makers to assess their country’s performance in various national innovation systems.”

This year’s theme, “Human Factor in Innovation”, explored the role of individuals and teams behind the innovation process. The 2014 index features data for 143 countries, with Switzerland at the top of the ranking and the United Kingdom in second place.

Nearly 100 local and foreign participants from the private sector, the science and innovation community, the Australian government, academics and civil society were present at the event.

Mr Danilovch also stressed the importance of business to support innovation: “Business investment in knowledge-based capital makes a considerable contribution to productivity. Market competition requires companies to innovate. The private sector can be a key partner in helping governments find solutions to development challenges, and can accelerate the achievement of core development objectives.”

ICC is actively engaged in encouraging innovation and the development of the knowledge economy through the work of its Commission on Intellectual Property. The commission gathers over 300 business executives and private practitioners from 50 countries to formulate ICC’s intellectual property policy. Its biennial publication Intellectual Property Roadmap: Current and Emerging Issues for Business and Policymakers was recently released, and raises awareness on how the intellectual property system contributes to economic, social and cultural development.

The GII launch took place during the B20, a two-day meeting that is part of Australia’s preparations to host the annual G20 Leaders’ Summit on 15-16 November 2014 in Brisbane. Business leaders gathered to formulate policy recommendations that are expected to be presented to G20 government leaders. Mr Danilovich, ICC Chairman Harold (Terry) McGraw III, and leaders of the ICC G20 CEO Advisory Group attended the Summit to present the priorities of the world business organization regarding global trade.

Download the Global Innovation Index 2014.

Read the ICC Intellectual Property Roadmap.

ICC Commission on Intellectual Property