GII helps governments to assess innovation-led social and economic changes.
- Co-published by WIPO, Cornell University and INSEAD Business School.
- Criteria to measure innovation include institutions, human capital and research, infrastructure, credit, investment, linkages; creation, absorption and diffusion of knowledge; and creative outputs.
Key findings
- Switzerland maintained its top position, followed by Sweden, US, and Singapore.
- India rises to 39th position (from 40th position in 2023) among 133 global economies.
- India ranks first among lower middle-income economies and in Central and Southern Asia region for knowledge and technology outputs, creative outputs, institutions, and business sophistication.
- India's strengths lie in key indicators like ICT services exports, venture capital received, and intangible asset intensity.
GII 2024 theme highlights the growing significance of social entrepreneurship.
- Social Entrepreneurship is the process of developing and implementing innovative organizational models to address social and/or environmental challenges, without profit as primary purpose.
- Significance:
- Economic Contribution: approximately $2 trillion to global GDP.
- Employment Creation: Estimated 10-11 million social enterprises and ~30 million social entrepreneurs help millions build sustainable livelihoods.
- Tackles poverty, addresses environmental devastation, and combat racial and social injustice.
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