According to the Global Innovation Index #GII2019 produced by WIPO, Cyprus jumped one position up from last year.
Cyprus is currently at the 28th position worldwide. Last year Cyprus were at the 29th position. Cyprus, a small island of the Mediterranean, is among the Top 30 countries globally and that shows the good work that all the stakeholders of the research and innovation is doing.
The Global Innovation Index (GII) 2019 ranks and breaks down the innovation performance of 129 countries and economies around the world. Switzerland is the world’s most innovative country followed by Sweden, the United States of America (U.S.), the Netherlands and the United Kingdom (U.K.), according to the GII 2019.
According to the data, it’s interesting that Cyprus is behind in the areas of Human Capital, Research and Education and Infrastructure (they ranked above the Top 30). In areas such as Business Sophistication, Creative Outputs, Knowledge and Technology Outputs, Market Sophistication and institutions we ranked in the Top 30 countries worldwide.
Some of their weaknesses are:
1. Graduates in science & engineering
2. Global R&D companies, QS university ranking with average score top 3*
3. High-tech imports
4. Knowledge Impact/ Growth rate of PPP$ GDP/worker
5. Intellectual property receipts
6. Cultural & creative services exports
7. Domestic market scale
8. Investment market capitalization
9. Gross capital formation
Some of their strengths are:
1. Regulatory environment - Cost of redundancy dismissal
2. Government funding/pupil, secondary, % GDP/cap
3. Very strong on getting financing credit
4. Domestic credit to private sector
5. Knowledge Absorption - ICT services imports
6. Knowledge Absorption - FDI net inflows
7. Knowledge Impact - New businesses/th
8. ISO 9001 quality certificates
9. Knowledge Diffussion - ICT services exports
10. Knowledge Diffussion - FDI net outflows
11. Online Creativity - Generic top-level domains (TLDs)
12. Online Creativity - Mobile app creation
You can find the Cyprus report by clicking here or check it below. 👇