Countries don’t always get along when it comes to territory debates, product origins or signing treaties. But sometimes they do, and sometimes their efforts contribute to global innovation.
The Information Technology and Innovation Foundation (ITIF) released their latest report that ranks 56 countries on the impact of their policies in contributing and detracting from global innovation.
In that ranking, ITIF ranked Peru at 48 with a general score of -12.2; a contribution score of -13.6 and detraction score of -7.4. What does that mean?
The report focused on assessing the impact that 56 countries have on global innovation by looking at 27 factors reflecting the extent to which their economic and trade policies contribute to and detract from innovation globally.’
One of the factors that demonstrates a country’s investment in innovation is investment in university research. Peru recorded an average of $18 of Government funding of University Research (per capita). While Singapore recorded the highest amount of government funding with $382, and Switzerland the second highest with $369.
The nations that are contributing most positively to global innovation are Finland (15.6), Sweden (14.2) and the United Kingdom (13.7).
On the other hand, India, Indonesia and Argentina were last on the list with scores of -15.5, -17.5 and -20.1 respectively.