September 18, 2015

            The Philippines is 5th most improved economy in the 2015 Global Innovation Index. After dropping ten spots last year, the Philippines moved up 17 notches now ranking 83^rd out of 141 economies.

            The Philippines obtained a score of 31.1 out of 100, up from 29.87 in the previous year. Of the seven pillars, the country made considerable improvements on the Business Sophistication, jumping 32 notches from 113^th to 91^st, Knowledge and Technology Outputs, where we are up by 15 from 68^th to 53^rd, Infrastructure up 11, from 94^th to 83^rd, and Institutions up 6, from 108^th to 102^nd.

            Three pillars decreased in ranking as follows: for Market Sophistication, the Philippines dropped from 93^rd to 101^st place. While the country’s ranking under Human Capital and Research, and Creative Output, similarly fell to 123^rd and 101^st, respectively.

            For 2015 report, the country ranked 5^th place out of the eight ASEAN. Singapore remains atop in the region while maintaining its 7^th position in the world rankings. Aside from the Philippines, those that increased their ranks were Malaysia from 33^rd to 32^nd, Vietnam from 71^st to 52^nd, Cambodia from 106^th to 91^st, and Myanmar from 140^th to 138^th. While economies like Thailand and Indonesia dropped from 48^th to 55^th and from 87^th to 97^th. Brunei was not included in this year’s release. Globally, innovation achievers for this year are Switzerland, United Kingdom, Sweden, the Netherlands, and the United States.

            Although Philippines increased its rank, its innovation efficiency has dropped. Innovation efficiency measures the effectiveness of innovation systems and policies. It is calculated by Output sub index score over Input sub index score. Co-published by Cornell University, INSEAD, and the World Intellectual Property Organization, the annual rankings examine both innovation inputs and innovation outputs: the enabling environment for innovation and the results of innovative activities within the economy.

          The Global Innovation Index 2015 focuses on Effective Innovation Policies for Development and shows new ways that emerging-economy policymakers can boost innovation and spur growth by building on local strengths and ensuring the development of a sound national innovation environment.

          WIPO Director General Francis Gurry underscored, “Innovation holds far-reaching promise for spurring economic growth in countries at all stages of development. However, realizing this promise is not automatic”. Adding, for a country in to become an innovation leader, “It must find the right mix of policies to mobilize the innate innovative and creative potential in their economies.”