222 views
Image by Walkerssk from Pixabay

SG climbs to 5th rank in 2023 Global Innovation Index

It is now the highest-ranking Asian market in the index, beating South Korea.

Singapore has surpassed South Korea in the 2023 Global Innovation Index, becoming the highest-ranking Asian market on the list.

Singapore climbed two spots to 5th place in the latest edition of the annual index published by the World Intellectual Property Organization (WIPO).

WIPO scores markets in the index on two broad areas, innovation inputs and outputs, and uses 80 indicators to rank 132 countries by their capacity for, and success in, innovation.

In innovation inputs, Singapore ranked first and also performed well in indicators such as “Institutions – institutional, regulatory and business environment” (1st), “Human capital and research” (2nd), “Infrastructure” (8th), and “Business sophistication”(3rd).

In innovation outputs, Singapore ranked 12th and improved its performance in the indicators “Knowledge and technology outputs” (10th) and “Creative outputs” (18th).

Based on the index, Singapore also performed well in a new indicator ‘Unicorn valuations’ (8th) which is based on the total valuation of all unicorns in a country as a percentage of GDP. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!