World Intellectual Property Organization (WIPO) released Global Innovation Index (GII) 2024 report | Current Affairs | Vision IAS
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World Intellectual Property Organization (WIPO) released Global Innovation Index (GII) 2024 report

Posted 27 Sep 2024

2 min read

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.

About WIPO (HQ: Geneva, Switzerland)

  • Genesis: Specialized agency of United Nations, established in 1967.                                 
  • Objective: Dedicated to developing a balanced and accessible international Intellectual Property (IP) system which rewards creativity, stimulates innovation and contributes to economic development.
  • Membership: 193 members (India is a member since 1975)
  • Major Treaties: India is a member of all three treaties
    • Paris Convention for the Protection of Industrial Property (1998)
    • Berne Convention for the Protection of Literary and Artistic Works (1928)
    • Patent Cooperation Treaty (1998)
  • Tags :
  • World Intellectual Property Organization
  • Global Innovation Index 2024
  • Social Entrepreneurship
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