By Sidra Tariq
UAE ranks first among countries in the Mena region in The Global Innovation Index 2014, which has been released today (Monday, July 21).
This year, the country also moves up two places (to number 36) in the annual global ranking, which covers 143 economies. Co-published by Cornell University, INSEAD and the World Intellectual Property Organisation, this year’s index focuses on the human factor in innovation and measures countries’ performances across sub-indices, such as input – which covers the national economy’s efforts in enabling innovative activities – and output, which covers the results of such activities.
The UAE also leads the Mena region in the innovation input sub-index. Globally, “the ranking of the UAE is better in terms of input (number 25) than output (number 68), as in some other Mena countries,” says Prof. Bruno Lanvin, INSEAD’s executive director for global indices and co-author of the report, at the index’s launch hosted by du in Mina A’Salam, Madinat Jumeirah. “This tells us that, somehow, we deserve more. Somehow, the efforts that are being made in the country about innovation could be better rewarded, and possibly, there are elements…that will guide us in identifying how this can happen in the future.”
He adds that the UAE and a number of other Mena countries have demonstrated a high level of stability in the ranking and “it shows that something is happening which is critically important and positive about innovation [in these nations].”
More to follow. Stay tuned!
Tuesday, July 22- 2014 @ 9:52 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.