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Institutions, market sophistication and infrastructure, pillars of best performance for the DR in the Global Innovation Index

Institutions, market sophistication and infrastructure, pillars of best performance for the DR in the Global Innovation Index

September 2020, Santo Domingo- The National Competitiveness Council presented the results of the Global Innovation Index (IGI) 2020, this index has been carried out since 2007 by INSEAD in conjunction with Cornell University and the World Intellectual Property Organization (WIPO ).

In this 2020 edition, the central theme of the report is "Who will finance innovation?" showing the current situation and evolution of financing mechanisms and, at the same time, exploring its needs and challenges. This issue is of vital importance for innovation in business and public policy, since financing affects all stages of the innovation cycle, from the generation of ideas to the commercialization, expansion and subsequent establishment of a long-term sustainable business. .

For the 2020 version, the IGI results study the characteristics of 131 countries, through 80 indicators, of which 58 consist of hard data, 18 are composite indicators and 4 come from opinion surveys. Comparisons with the previous year's results are not recommended due to methodological changes from the most recent version.

In this index, the Dominican Republic is located in the group of upper-middle-income countries, with a score of 25.1 and occupying position 90 globally, being the infrastructure, institution and sophistication pillars of the market those that have obtained the best score for the Dominican Republic internationally. At the regional level, Chile leads the ranking and the Dominican Republic remains the 11th country with the greatest capacity for innovation in the region, above El Salvador. 

In the sub-index of entries to innovation, on average, the Dominican Republic performed well. The institution pillar is the one with the highest score in the country (54.3), it positions the Dominican Republic in 98th place worldwide; This pillar assesses the institutional structure of economies by attracting business and fostering growth through good governance and levels of protection that encourage innovation. 

The market sophistication pillar (which measures aspects such as credit, investment and trade, competitiveness and market size) is the second with the highest score for the Dominican Republic, despite being below the regional average (44.5). On the other hand, the infrastructure pillar registered a score of 37.9 (above the Latin American average of 37.5), it is ranked 77th worldwide and tenth in the region. 

However, business sophistication (which assesses the levels of sophistication to access innovative activities) obtained the second lowest rating with a score of 22.5 below the regional average 25.8. The lowest score of the innovation entry pillars was obtained by the human capital and research pillar, which registered a score of 18.5 out of 100. 

For 2020, the sub-index of Exits to innovation for the Dominican Republic showed an unfavorable behavior, with a score of 15.4 (below the world average, of 24.4 and regional, of 17.4), placing the Dominican Republic in positions 85 and 10 globally and regionally. Within this sub-index the following pillars are measured: production of knowledge and technology, which evaluates all the variables that come as a result of investment and innovation; and creative production which measures aspects such as intangible assets, creative goods and services and online creativity. These sub-pillars position the Dominican Republic at 99 and 82 respectively.            

The Dominican Republic's capacity to innovate, measured through the IGI, has presented unfavorable returns, placing the country in position 90 (with a score of 25.1, lower than the world and Latin American averages of 33.8 and 27.7, respectively). The results suggest that despite showing a good performance in most of the input indicators, the results of this investment have not yielded the expected results. In this sense, it is important to take into account the main challenge of the country in terms of innovation (human capital and research), which affects in a transversal way the results of innovation (exit indicators), since the levels and standards of education and research they are key to the development of innovation in a nation.

To download the full report click on the following link

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