Canada Singapore Top Global Innovation Policy Index
In the midst of intense global competition for innovation supremacy among countries, Canada and Singapore are a half-step ahead of the pack, according to the latest Global Innovation Policy Index.
The Index benchmarks the effectiveness of the innovation policies of 55 countries and assesses them against 84 indicators grouped across seven core innovation policy areas: 1) trade and foreign direct investment; 2) science and R&D; 3) domestic market competition; 4) intellectual property rights ; 5) information technology; 6) government procurement; and 7) high-skill immigration.
The Index ranks countries as either upper tier, upper-mid tier, lower-mid tier or lower tier on each of the seven policy areas and overall, and highlights best practices in policy development among these countries that other nations can learn from. Only Canada and Singapore placed in the upper tier on all seven innovation policy indicators, while the United States placed in the top tier in every category except openness to high-skill immigration. The report ranks 18 countries as upper tier, 15 as upper-mid tier, 13 as lower-mid tier, and nine as lower tier in innovation policy.
Upper Tier (alphabetical order)
- Chinese Taipei
- Hong Kong
- New Zealand
- United Kingdom
- United States
- Czech Republic
- South Korea
- Slovak Republic
- South Africa
The Index is released annually by the Information Technology and Innovation Foundation (ITIF) and the Ewing Marion Kauffman Foundation.
"Countries are engaged in a fierce race for global innovation advantage," ITIF President Robert Atkinson said, "but they can compete in ways that either maximize their innovation capacity while producing positive spillovers for the world, such as by investing in research or education, or compete by less effective policies that often distort global markets through 'innovation mercantilism.' The Policy Index highlights countries' 'good' innovation policies and provides a scorecard of how effectively leading countries are adopting them."