S’pore achieves highest Global Innovation Index rank at 4th

The city-state topped 14 out of 78 indicators.

Singapore ranked fourth in the annual Global Innovation Index by the World Intellectual Property Organization which tracks innovation trends in 133 economies using 78 indicators.

It is the highest the country has ever ranked in over a decade, whilst also retaining the top spot in the Asia Pacific region.

The city-state topped 14 out of 78 indicators, up from 11, including government effectiveness, information and communications technology access, unicorn valuations and venture capital.

It also retained its top rank in innovation inputs, seeing shifts in sub-component indicators. Education improved by seven positions and ‘Innovation linkages’ improved by five, landing at 39th and 7th, respectively.

“The Singapore IP Strategy 2030 aims to continue broadening the scope of IP to the larger economy, into areas such as IP financing and commercialisation, to keep us on an innovation and business growth trajectory,” Rena Lee, chief executive of IPOS, said.