The Philippines has maintained its spot in the Global Innovation Index (GII) 2018, ranking 73rd out of 126 economies.
The GII, which gauges an economy’s innovation performance through innovation input and output sub-indices, is co-published by World Intellectual Property Organization, Cornell University, and INSEAD — a France-based graduate business school.
In the innovation input sub-index ranking, the Philippines landed at 82nd place.
The input sub-index measures the country’s strength in economic pillars that drive innovation which include institutions, human capital and research, infrastructure, market sophistication, and business sophistication.
Among the indicators under the innovation input sub-index, the Philippines ranked highest in percentage of research talent in business enterprise at 63 percent; share of firms offering formal trainings, with 60 percent of companies gives formal trainings to employees; and share of graduates in science and engineering, with 29 percent of the total tertiary education graduates are in this track.
The country also ranked high in indicators such as gross domestic product (GDP) per unit of energy use, which promotes ecological sustainability; and share of market capitalization to GDP at 84 percent.
The Philippines’ ranking in innovation output sub-index is higher at rank 68. This measures the country’s innovation activities in knowledge and technology outputs and creative outputs.
The country’s share of information and communications technology services exports to total trade has buoyed its ranking in output sub-index.
Earlier, the Intellectual Property Office of the Philippines (IPOPHL) noted that strengthening of intellectual property protection and enforcement contributes to the country’s performance in the GII.
Indicators related to intellectual property also made up the innovation input and output sub-indices.
Meanwhile, the Philippines’ ranking in the innovation report this year is stagnant compared to its ASEAN neighbors.
Singapore further moved up to rank 5 from 7 last year; Malaysia, to 35 from 37; Thailand to 44 from 51; Vietnam, to 44 from 47; Brunei, to 67 from 71; Indonesia, to 85 from 87; and Cambodia, to 98 from 101.
The GII helps policy and decision makers to craft strategies that will boost the innovation of the country. PNA