Azerbaijan Shows Progress In Global Innovation Index 2024
Date
9/28/2024 5:11:09 AM
(MENAFN- AzerNews)
Akbar Novruz
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The United Nations World Intellectual Property Organization
(WIPO) has released the 17th edition of the Global Innovation Index
(GII), which ranks 133 economies based on approximately 80
indicators related to innovation activity.
According to Azernews , Azerbaijan ranked 95th
in the GII 2024, reflecting both the progress and areas for
improvement in the country's innovation ecosystem.
The GII is based on two main sub-indices: "innovation resources"
(inputs) and "innovation results" (outputs). Azerbaijan performed
well in certain areas, particularly in government efficiency,
business development, and industry-university collaboration.
Key highlights include:
Institutions: Azerbaijan ranked 51st in
government efficiency, regulation quality, and political
stability.
Business Environment: The country rose to 15th
place, reflecting an increasingly favorable climate for innovation
and business development. Azerbaijan also advanced in business
policy stability, securing 19th place.
Business Development: Ranked 67th,
Azerbaijan's performance in this area highlights ongoing
improvements in economic infrastructure and market conditions.
Scientific Research and Cluster Development:
Azerbaijan leads the South Caucasus in research and cluster
development, ranking 30th and 29th respectively, indicating strong
collaboration between academia and the private sector. This is
aligned with Azerbaijan's 2030 development agenda, emphasizing
industrial clusters and R&D cooperation.
Azerbaijan made notable strides in patent activity, rising to
50th place in "Knowledge and Technological Results" and leading the
South Caucasus in this category. The country also improved in labor
productivity, climbing 34 spots to 28th place, thanks to the
adoption of advanced technologies and improved workforce
skills.
In terms of human capital and science ,
Azerbaijan ranked 94th, but significant progress was observed in
areas like student-teacher ratio (20th) and government investment
in education (53rd). The country's 45th-place ranking for science
and engineering graduates highlights its growing technical talent
base, which is essential for innovation in key sectors like
technology and engineering.
However, experts emphasize the need for more venture capital,
increased high-tech exports, and greater access to private sector
credit. These steps, along with stronger collaboration between
education and industry, will be crucial for further boosting
Azerbaijan's innovation capacity.
For more in-depth analysis, you can explore the full
WIPO Global Innovation Index report or research
papers on innovation ecosystems and the role of education in
economic development. I also recommend reading about Azerbaijan's
2030 innovation agenda , which provides insights
into the country's strategic goals for R&D and industrial
growth.
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