As the world economy begins to shake off the effects of Covid-19, nations will be looking to gain competitive advantage as they recover from the recession caused by the pandemic. Research has shown that innovation remains a key element of competitiveness and a factor that can differentiate national economies in terms of growth and development. An important data source to understand this phenomenon is the Global Innovation Index (GII) which was published earlier this week. This not only captures the innovation ecosystem performance of 132 economies and ranks them, but also tracks the most recent global innovation trends. So what does it say about the state of innovation during the Covid-19 crisis? Whilst economies have generally had a rough time over the last 18 months, the GII 2021 report shows that not only has investment in innovation shown great resilience during 2020 but, in certain sectors and regions, has exceeded expectations. In terms of ranking, it is worth n...
Entrepreneurship, innovation and the economy