China joins 20 most innovative economies, US falls to No

Global Innovation Index: Kenya ranks 3rd in Sub-Saharan Africa

The top five are the Netherlands, Sweden, the United Kingdom and Singapore.

The GII ranks the nations based on 80 indicators, ranging from intellectual property filing rates to R&D, mobile application creation, online creativity, computer software spending, education spending, scientific & technical publications and ease of starting business.

Cornell University and France's INSEAD business school, the innovation study is described as a "detailed quantitative tool that helps global decision makers better understand how to stimulate the innovative activity that drives economic and human development".

Organisers also noted that after being 22th last year, China's 17th ranking this year "represents a breakthrough for an economy witnessing rapid transformation guided by government policy prioritising research and development-intensive ingenuity". While the United States fell back to number six, it remains an innovation powerhouse that has produced numerous world's leading hi-tech firms and life-changing innovations, says the Index organizers.

"In absolute values, and in areas such as research and development expenditures and the number of researchers, patents and publications, China is now first or second in the world, with volumes that overshadow most high-income economies", it read.

Africa's most innovative economies were able to attract higher foreign direct investments that translated into more jobs for the youth and increased revenue streams to support social sectors like education and health.

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According to the index, 20 middle and lower-income economies that perform "significantly better" than their level of development would predict made this year's list of "innovation achievers", including three for the first time — South Africa, Tunisia and Colombia. Indonesia, Malaysia, Thailand, and Vietnam continue to move up the rankings, steering closer to regional leaders like China, Japan, Singapore, and Republic of Korea.

Among lower-middle-income economies, India moves up to the fifth position in the GII rankings.

India ranks well in a number of important indicators: productivity growth, exports of information and communication technology and services.

In the GII report 2017, Vietnam was at the 47th place among 127 economies over the world. The patency employees evaluate these innovations as per the world class standards.

The report recommended that more investment be channelled towards the production of clean/green energy as it is projected that by 2040, the world will need about 30% more energy than it requires today.

CII is GII's knowledge partner.

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