The Kingdom of Saudi Arabia ranked 66th out of 131 countries in the world for the year 2020, two places higher than its last year ranking, in the annual innovation report issued by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD, which was entitled as "Financing Innovation".
The report attributed the Kingdom's improved performance to its progress in several indicators, including: the Innovation Output Index, as the Kingdom advanced from the 85th place last year to the 77th in 2020, advancing 8 ranks, whereas the Kingdom jumped from the 86th place in the Innovative Output Index in 2019 to the 69th place this year, it also advanced by 17 ranks, and it advanced in the Markets Development Index from 47th in 2019 to 44th in 2020, advancing 3 ranks and advancing two ranks in the Institutions Index from 104th to 102nd in 2020.
The index measures innovation performance in countries through innovation inputs and outputs, by setting the average of two sub-indicators: the innovation input index, which is based on five pillars, including: (institutions, human capital and research, infrastructure, market development, and business development), and the innovation outputs index, which is divided into (knowledge and technology outputs, and creative outputs).
Source (Al-Arabiya.net, Edited)
