Bangladesh has been ranked the least innovative country and Singapore the most innovative in Asia.
The lower ranking innovative countries -- Bangladesh, Kazakhstan, Sri Lanka, Nepal, Pakistan -- will benefit from more innovation in the future, according to the Global Innovation Index 2018 report.
Bangladesh along with Myanmar and Pakistan sustained growth foreseen to 5 per cent in 2018 and 2019, the report said.
Published in July, the report analyses the energy innovation landscape of the next decade and identifies possible breakthroughs in fields such as energy production, storage, distribution, and consumption. It also looks at how breakthrough innovation occurs at the grassroots level and describes how small-scale renewable systems are on the rise.
Meanwhile, Singapore, South Korea and Japan are the most innovative countries in Asia.
South East Asia is at the third place globally in terms of innovation. Singapore leads the region with a high score in most of the indicators. Globally it has moved two positions up since last year.
South Korea is also among the high income countries that has increased investment in innovation and is ranked second in Asia. The country has not only increased the investment but also “improved its performance in the quality of its scientific publications and the quality of its universities,” It is followed by Japan that is ranked third in Asia.
China is ranked fourth in Asia. The country has been on a dynamic innovation trajectory. China's innovation prowess has been evident in its global R&D companies, hightech imports, the quality of its publications, and tertiary enrolment.
It is followed by Malaysia which is ranked fifth in Asia and is one is one of the middle income countries that is edging closer. This year it moved ahead in the rankings with strengths in Tertiary education, Knowledge diffusion, and Creative goods and services.
Thailand ranked sixth has outperformed on innovation relative of its development, according to the report. It is followed by Vietnam and Mongolia ranked seventh and eighth in Asia respectively.
India ranked ninth is Asia is also seen as an overachiever in relation to its development. As per the report India is one such country that make a significant change in the innovation landscape.
Although Brunei is a high income country the innovative input score is very less. It is ranked tenth in Asia. It is followed by Philippines and Indonesia. Sri Lanka, Nepal, Pakistan and Bangladesh are the least innovative countries in Asia.
As per the report, innovation in Asia can grow if if increased protectionism -- in particular protectionism that impacts technology-intensive sectors, IP, and knowledge flows across the board -- could be contained.
Such dynamics, as per the report, could create the basis for productive knowledge spillovers and opportunities for collaboration and the generation of new knowledge and innovation.
Copyright: DataLEADS/ Asia News Network