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UAE leads in Global Innovation Index
July 11, 2018
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ABU DHABI: The UAE remained in good standing at this year’s edition of the Global Innovation Index (GII) as it ranked number one in the Arab World and ranked 38th globally and 24th in the innovation input pillar. In addition, the country also demonstrated an increase in its innovation output pillar from 56th in 2017 to 54th this year.

The positive positioning across these indices reflects the significant improvements in knowledge and technology outputs, business sophistication, market sophistication and infrastructure. For example, these pillars include increases in indicators such as government online services, intensity of local competition, gross expenditure on research and development financed by business and foreign direct investments net outflows.

The country is now implementing a strategic roadmap that looks towards improving both its short-term results in the GII by the year 2021 while also enhancing long-term results.

The objective is to position the UAE as one of the top 10 innovation leaders in the world. Some of the initiatives being rolled out include the move to unlock intellectual property attractiveness; the promotion of a unified network aimed at encouraging fundamental research collaboration between universities, private sector, and government; identifying, connecting and tracking the impact made by these innovation-based initiatives and the move to bolster the financing of innovation for all UAE companies via venture capital. The index, which is an annual ranking of countries by their capacity for, and success in, innovation, measures the innovation-related performance of 126 countries and economies representing the vast proportion of the global Gross Domestic Product (GDP). This year’s index was calculated based on detailed measures of innovation inputs and outputs - including 80 indicators providing insights on the various areas of innovation, most notably institutions, human capital & research, infrastructure, market sophistication, business sophistication, knowledge & technology outputs, and creative outputs.

WAM

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