Global Innovation Index: Neither Backward nor Forward. Are We Taking Action?
Article published in El Universal.
In a context of slow economic recovery after the pandemic, financial fluctuations, high interest rates, and geopolitical conflicts, the Global Innovation Index (GII) 2023 was published on September 27th, revealing the performance evaluation of 132 economies in terms of innovation.
After 16 years of publication, the GII has become a leading tool for measuring the innovation ecosystem. The evaluation, scrutinizing 80 indicators and tracking global trends in this field, is a necessary reference for the formulation of public policies and business strategies.
Just like in the past 13 years, Switzerland holds the first place. In 2023, Sweden takes the second spot from the United States, the United Kingdom reaches the fourth, and Singapore enters the top five for the first time. In the Latin American region, Brazil, the only country positioned within the top 50, displaces Chile to claim the top spot. As for the middle-high-income countries, China, Malaysia, and Bulgaria form the top trio.
Similarly to 2022, Mexico occupies the 58th position. In the region, we remain in third place, and concerning our income level (middle-high), we rank 11th. Unlike many other countries, ours receives only the necessary attention without much recognition, except for thanking Mexican entities for their participation in the index and highlighting Kavak as a unicorn company leading in the region.
The GII provides both positive results for Mexico and challenges and areas of opportunity. It’s paradoxical that while we rank high in some indicators, we rank 111th, 116th, and 120th in others.
The index confirms our high potential in cultural and artistic expressions, as well as in the creative industry since Mexico holds the first place in the export of creative content. Similarly, the GII reflects our country’s involvement and strength in advanced technology trade; we rank ninth in the export of high-tech products and eleventh in their import.
Regarding academia and innovative companies, the GII mentions UNAM and Tec de Monterrey as promoters of research and development and generators of innovation. Concerning the exploitation of innovation, it mentions that Mexico hosts unicorn companies like KAVAK, CLIP, and BITSO, operating in e-commerce and fintech, representing successful examples of entrepreneurship.
However, the index reveals that Mexico faces serious weaknesses, especially in terms of the institutional environment. In this indicator, we hold the embarrassing 111th place out of 132. Concerning the rule of law, we rank 109th; operational business stability, 116th; business-friendly policies, 120th; governmental effectiveness, 89th, and regulatory matters, 102nd.
In the field of education and its quality, we are not doing well. The GII confirms what the OECD has pointed out: our investment in education relative to GDP is relatively low. The same goes for research and development. Similarly, the link between R&D and business faces significant barriers, limiting knowledge and technology transfer.
Technological infrastructure is an area where we need to work. While Mexico has made strides in this area, there is room for improvement to facilitate the adoption of emerging technologies. We hope to see one of our innovation clusters listed among the top 100 in the GII in the future, just as Brazil, Iran, and Turkey once set out to do, and have now achieved.
Therefore, even if it doesn’t seem likely to take action in the near future, those aspiring to lead the country must be aware that we have a solid foundation and potential to improve our innovative capacity. Commitment is necessary to address what needs improvement, streamline the institutional aspect, but above all, respect and uphold the rule of law.
