The World Intellectual Property Organisation has published its annual Global Innovation Index report, which compares 132 countries in terms of their level of innovative development.
Cyprus was ranked 28th, maintaining its position for the second year in a row.
The Global Innovation Index includes more than 80 indicators grouped into seven blocks. The final ranking is calculated as the average of two sub-indices - "innovation resources" (institutions, human capital and science, infrastructure, level of market and business development) and "innovation outcomes" (development of the technology and knowledge economy, results of creative activity).
Dimitris Skouridis, Chief Researcher at the Research and Innovation Foundation of Cyprus (IRD), noted that research and innovation drive the country's economic growth while playing a key role in a more sustainable and people-centred future. He stressed that the IRD has a particularly important role to play in these efforts.
As the national body responsible for supporting and promoting research, technological development and innovation in Cyprus, the foundation has been able to attract more than €178 million in funding through the RESTART competitive programmes from 2016 to date, Skouridis said.
It is worth noting that Cyprus scored 46.2 points in 2024, making it the second most innovative country in the Mediterranean region.
Looking at the components of the index in more detail, Cyprus ranked 36th in terms of institutions, 39th in terms of human capital and science, 28th in terms of infrastructure, 29th in terms of the level of development of the country's market, 17th in terms of creativity and 20th in terms of technological development and the knowledge economy.
It is worth noting that the Global Innovation Index (GII) 2024 analysed the latest global trends in innovation. By assessing the innovation performance of some 132 economies and identifying their strengths and weaknesses in this area, the authors of the study identified the most advanced countries in the world in terms of innovation.