Highlights of World Intellectual Property Organization (WIPO) Global Innovation Index 2022 /Or Manor
- Or Manor
- Apr 11, 2023
- 2 min read
Highlights of World Intellectual Property Organization (WIPO) Global Innovation Index 2022 -What is the future of innovation-driven growth?
This year’s GII finds the innovative sectors of the world economy at a crossroads. On the one hand, science and innovation investments continued to surge in 2021, performing firmly even at the height of a once-in-a-century pandemic.
International patent filings, R&D expenditure, scientific publications, and other key innovation metrics showed continued growth. Take the trend in venture capital (VC) deals.
The current crisis has instead seen a historic boom in VC activity, with deals increasing by almost 50 percent last year.
Understanding the state of innovation is even more critical than ever - The future of innovation-driven growth.
Two innovation waves, in particular, are identified as having the most significant potential to improve productivity and improve lives – the Digital Age and Deep Science.
Supporting countries at all stages of development in strengthening their innovation ecosystem is a crucial objective of the GII.
The GII has established itself as a powerful tool for constructing and developing pro-innovation policies, with countries working with us to create similar indices at the sub-national level.
Top three innovation economies by region
Latin America and the Caribbean
1. Chile
2. Brazil
3. Mexico
Northern America
1. United States
2. Canada
Europe
1. Switzerland
2. Sweden
3. United Kingdom
Sub-Saharan Africa*
1. South Africa
2. Botswana
3. Kenya
Northern Africa and Western Asia†
1. Israel
2. United Arab Emirates
3. Türkiye
(Page 33 ) Corporate R&D expenditure, selected top R&D spenders worldwide, annual R&D expenditure, 2020 vs. 2021
The differential impact of the pandemic is also evident in the R&D performance of individual Companies.
Generally, companies that stood to gain from pandemic-induced shifts in demand increased. Their R&D efforts in 2021. These include semiconductor chip makers such as Nvidia, Qualcomm, SK Hynix, and Intel; internet companies such as Facebook, Baidu, Salesforce, and Netflix; and many large pharmaceutical companies with successful COVID-19 vaccines.
The differences within sectors are intriguing and worthy of further studies, such as the R&D
Spending surges of BMW while Mercedes (Daimler) saw significant R&D cutbacks.
In contrast, those companies whose business models rely on in-person activities or travel decreased their expenditures, including Airbnb, Airbus, Boeing, Uber, and many more
Automobile manufacturers.
The data shown in Figure 5 are heavily biased toward top R&D performers – the “R&D superfirms.” In light of the crisis, a fuller assessment of corporate R&D performance will have to wait for more data to become available, including that from small and medium-sized enterprises that may have experienced harsher conditions for innovation finance in 2020 and 2021.
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