WIPO has recently unveiled the Global Innovation Index 2020 presenting the latest global innovation trends and the annual innovation ranking of 131 economies.

The topic of this year is Who Will Finance Innovation? because of the impact on humanity and the global economy caused by Covid-19 pandemic. Although many governments are providing relief packages to reduce the damages of the lockdown and prevent the recession, GII 2020 advises that further support is needed, especially for smaller enterprises and start-ups that have difficulties in accessing rescue packages.

As far as the annual ranking of the world’s economies on innovation capacity and output is concerned, the GII shows an overall stability at the top, with Switzerland, Sweden, US, UK and the Netherlands, but a shift toward the East in terms of innovation. In particular, China, India, Vietnam and the Philippines have considerably improved in the last years. In addition, the Republic of Korea has joined the top 10 for the first time. The top-performing economies in the GII are still almost exclusively from the high-income group.

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