February 22, 2024

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Global Innovation Index 2018 names Singapore the most innovative country outside of Europe

Global Innovation Index 2018 names Singapore the most innovative country outside of Europe

The much-awaited Global
Innovation Index
(GII) 2018 report has finally been released. Among
a plethora of other ‘bests’ and ‘mosts’, Singapore is also the world’s most
innovative country outside of Europe!

The overall GII score
is calculated as the simple average of the Input and Output Sub-Index scores.
The report shows that Singapore ranks fifth worldwide with a score of 59.80
following Switzerland (68.40), the Netherlands (63.30), Sweden (63.10), and the
United Kingdom (60.10).

Singapore has moved up
two positions and takes the 5th spot this year. It has retained its top spot in
the Innovation Input Sub-Index and gained two positions in the Innovation
Output Sub-Index (15th). Singapore’s Efficiency ratio is 63 and its GDP is PPP$
513.7. Its GDP per capita is PPP$ 93,905.

Singapore ranks in the
top 5 in all input pillars, confirming that it is the leading country in the Institutions
sub-index. It also gained a top rank in Human capital and research, the pillar which
gauges the human capital of countries (score: 73.28), although this is partly
due to data becoming unavailable on two indicators— government funding per
pupil and school life expectancy.

It also holds 2nd position in Business sophistication (the fifth
enabler pillar which aims to capture a country’s level of business
sophistication to assess how conducive firms are to innovation activity) with a
score of 65.08.

In terms of innovation
outputs, Singapore maintains its 11th position in Knowledge and technology
outputs, the pillar that covers all those variables that are traditionally
thought to be the fruits of inventions and or innovations; Singapore’s score
here is 51.27.

Singapore lost three
spots in Creative outputs (35th; score: 39.60) but, at the sub-pillar level, Singapore still holds a
top rank in Political environment (rank
1; score of 94.65), Regulatory
environment, and Tertiary education. Singapore is at the 2nd
position in Investment this year.

Indicators identified
as relative weaknesses include expenditure on education, pupil-teacher ratio,
environmental performance, productivity growth, and trademarks and industrial
designs by origin.

Apart from these areas
of opportunity, Singapore keeps its 1st place in various indicators, including
government effectiveness, regulatory quality, PISA results, IP payments, and
FDI outflows.

This year Singapore
also gains (or re-gains) a top rank in five other indicators: political
stability and safety, market capitalization, FDI inflows, high- and medium-high-tech
manufactures, and high-tech exports.

Chapter 11 of the GII
hails Singapore as ‘A
Living Lab for Renewable Energy’
.

From launching the world’s largest floating
photovoltaic (PV) test bed to building the first industrial micro-grid test
system in South East Asia, Singapore consistently demonstrates that it can be a
‘Living Lab’ for renewable energy (RE) innovators to test their ideas. Beyond
testing, innovators can leverage Singapore’s world-class legal framework,
robust intellectual property (IP) regime, conducive business environment, and
extensive global networks to commercialize their innovative RE ideas,
transforming them into viable technologies for global markets.

The GII report also commends for Singapore
for being a leading example of innovation in green technology. It notes that Singapore
has pumped S$2.04 billion into R&D for the clean technology sector, which
includes environment and water solutions, since 2006.
Singapore successfully developed and installed 10 different floating support
structures for PV systems that were constructed by both local and overseas
companies on the Tengeh Reservoir in 2016 to determine the most suitable system
for Singapore. Building on the results of the test bed, the Public Utilities
Board (the nation’s water agency) is now exploring the feasibility of deploying
a 50 megawatt (MW) floating solar PV system at the Tengeh Reservoir. The amount
of energy generated from such a system could potentially power about 12,500
average households in Singapore.

Mr Daren Tang, Chief
Executive of IPOS, said, “Innovation is becoming a driving force in our economy
and globally. The GII 2018 accolade supports the advancement of Singapore’s IP
and innovation agenda. Being ranked fifth in a credible global study gives
greater impetus for our enterprises and entrepreneurs to keep using innovation
and leveraging their intangible assets to grow from Singapore to the world.”

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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