BizWatch Ukraine: Daily Report from the Business Front

Ukraine Climbs in 2023 Global Innovation Index Rankings

The latest Global Innovation Index, released by the World Intellectual Property Organization (WIPO), a United Nations specialized agency, showcases notable shifts in global standings. Ukraine made a significant leap in the 2023 rankings, achieving 32.8 points and securing the 55th spot worldwide, a notable improvement from last year's 57th position with 31 points. However, countries like North Macedonia, Serbia, and Chile still rank ahead.

In a more focused comparison, Ukraine impressively ranks third among countries with below-mid-level income, trailing only behind India and Vietnam. Despite these gains, certain areas remain challenging for Ukraine. The country has seen a decline in institutional strength, dropping to 100th place from 97th last year. Similarly, there's a dip in market development and infrastructure, now ranking at 104th and 77th places, respectively.

On the brighter side, Ukraine's strengths are evident in sectors like knowledge and technology, maintaining a robust 45th position, alongside consistent performance in business development (48th) and a commendable 37th place in creative outputs. However, it's important to note the ongoing war with the Russian Federation, which significantly impacts these outcomes.

The Global Innovation Index evaluates an innovative economy based on 81 indicators across seven categories, including:

1. Business development: This covers aspects like research and development spending and foreign direct investment inflows.
2. Market development: This considers the economy's GDP size and local market competition intensity.
3. Infrastructure: It includes physical infrastructure like roads, hospitals, schools, and energy efficiency.
4. Human capital and research: This focuses on public funding per student and the quality of scientific and research institutions.
5. Institutions: This evaluates political stability, security, and the ease of starting a business.
6. Creative outputs: It measures elements like valuable brands, industrial design programs, and trademark applications.
7. Knowledge and technology outputs: This includes patents, labor productivity growth, and software investments.

Switzerland remains a global leader, topping the index for the 13th consecutive year, thanks to its world-class intellectual property regulations and strong university-industry collaborations.

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UkraineOffice – Daily Newsletter
Odesa, Ukraine
16/11/2023
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