The World Intellectual Property Organization (WIPO) has released the 18th edition of its flagship Global Innovation Index (GII), offering a comprehensive analysis of innovation performance across the globe.
This year’s report captures a world at a turning point. Innovation systems are adjusting to geopolitical shifts, rapid technological progress, and evolving modes of collaboration. While research and development (R&D) investment continues to grow, the pace of growth has slowed — reflecting the more restrained recovery seen in recent economic cycles.
Key insights:
Innovation investment remains resilient — with one exception: Most forms of innovation investment saw growth in 2024, yet overall growth remains at a historic low. Venture capital (VC) continues to lag, despite apparent gains driven primarily by US-based megadeals and the AI sector.
Venture capital: Narrow rebound conceals broader weakness: VC deal values rose by 7.7%, fuelled largely by generative AI. Excluding AI and US deals, global VC activity actually contracted. Notably, the number of VC deals declined for the third consecutive year — down 4.4% globally — highlighting ongoing investor caution.
Technological progress surged, but adoption slowed: 2024 witnessed significant advances in areas such as supercomputing and battery technology. However, adoption trends slowed, and innovation in fields like wind energy and genome sequencing showed less momentum than in past years.
Innovation’s socioeconomic impact remains broadly positive: Innovation continues to enhance economic and social outcomes, with post-COVID recovery firmly underway. Environmental challenges persist, but the overall trajectory remains favourable.
Stable rankings, rising players: Switzerland, Sweden, the US, South Korea, and Singapore lead the GII rankings, with China securing a place in the top 10. Emerging economies continue their gradual ascent.
Innovation hubs span the globe: The world’s leading innovation clusters are now spread across six continents, with the Shenzhen–Hong Kong–Guangzhou corridor ranked first globally.
Europe’s strong showing: Europe boasts 15 of the top 25 economies — six of which are in the top 10.
However, Greece remains notably low in the rankings, underlining the urgent need for systemic reforms across key sectors.
The Global Innovation Index (GII) can be found at https://www.wipo.int/web-publications/global-innovation-index-2025/en/index.html
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