Oct 04, 2023 494

Azerbaijan advanced 4 places in the Global Innovation Index


According to the joint information of the Ministry of Economy of the Republic of Azerbaijan and the Intellectual Property Agency, it is reported that Azerbaijan has advanced 4 places in the Global Innovation Index.

Azerbaijan has made significant progress in the Global Innovation Index (GII), climbing four spots this year. The GII, covering 132 countries, is jointly published by Cornell University, INSEAD Business School, and the World Intellectual Property Organization (WIPO).

The GII 2023 ranking evaluates 81 indicators, assessing innovation potential, efficiency, and framework conditions. It encompasses areas like legislation, education, markets, infrastructure, and more, aiming to evaluate the effectiveness of innovation mechanisms in countries.

Sweden leads the GII 2023 ranking, followed by Switzerland, the USA, the UK, and Singapore. Notably, Azerbaijan has improved its position by four places, securing the 89th position.

In the "Innovation Input" and "Innovation Output" sub-indices, Azerbaijan's progress reflects investments in modern institutions, human capital development, education, efficient business models, and ICT sector growth. This improved performance highlights Azerbaijan's commitment to harnessing innovation for its development.