Singapore ranks 7th on Global Innovation Index, down one place from last year

Singapore maintained its top position globally for innovation input.
Singapore maintained its top position globally for innovation input. PHOTO: ST FILE

SINGAPORE - Singapore retained its pole position for innovation among South-east Asian nations in the annual Global Innovation Index, but fell one ranking to seventh position globally.

In the latest edition of the Global Innovation Index, co-published by Cornell University, French business school Insead and the World Intellectual Property Organisation, about 130 economies were surveyed using metrics such as patent filings and education findings.

Singapore did well in several indicators. It maintained its top position globally for innovation input, and advanced three positions to 17th place for innovation output.

It also came out tops in indicators such as political environment, regulatory environment and tertiary education.

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However, it came in 63th for innovation efficiency, which measures how much innovation output a country is getting for its inputs.

The index ranked Switzerland as the most innovative economy for the seventh consecutive year. In the Asian region, it found India to be an emerging innovation centre, while South-east Asian countries are doing their best to catch up.

Philippines is the top performer in South-east Asia for information and communication technology service exports, while Vietnam lead the region in expenditure on education.