Azerbaijan shows progress in Global Innovation Index 2024

The United Nations World Intellectual Property Organization (WIPO) has released the 17th edition of the Global Innovation Index (GII), which ranks 133 economies based on approximately 80 indicators related to innovation activity.

According to Azernews, Azerbaijan ranked 95th in the GII 2024, reflecting both the progress and areas for improvement in the country’s innovation ecosystem.

The GII is based on two main sub-indices: "innovation resources" (inputs) and "innovation results" (outputs). Azerbaijan performed well in certain areas, particularly in government efficiency, business development, and industry-university collaboration.

Key highlights include:

• Institutions: Azerbaijan ranked 51st in government efficiency, regulation quality, and political stability.
• Business Environment: The country rose to 15th place, reflecting an increasingly favorable climate for innovation and business development. Azerbaijan also advanced in business policy stability, securing 19th place.
• Business Development: Ranked 67th, Azerbaijan’s performance in this area highlights ongoing improvements in economic infrastructure and market conditions.
• Scientific Research and Cluster Development: Azerbaijan leads the South Caucasus in research and cluster development, ranking 30th and 29th respectively, indicating strong collaboration between academia and the private sector. This is aligned with Azerbaijan's 2030 development agenda, emphasizing industrial clusters and R&D cooperation.

Azerbaijan made notable strides in patent activity, rising to 50th place in "Knowledge and Technological Results" and leading the South Caucasus in this category. The country also improved in labor productivity, climbing 34 spots to 28th place, thanks to the adoption of advanced technologies and improved workforce skills.

In terms of human capital and science, Azerbaijan ranked 94th, but significant progress was observed in areas like student-teacher ratio (20th) and government investment in education (53rd). The country’s 45th-place ranking for science and engineering graduates highlights its growing technical talent base, which is essential for innovation in key sectors like technology and engineering.

However, experts emphasize the need for more venture capital, increased high-tech exports, and greater access to private sector credit. These steps, along with stronger collaboration between education and industry, will be crucial for further boosting Azerbaijan’s innovation capacity.

For more in-depth analysis, you can explore the full WIPO Global Innovation Index report or research papers on innovation ecosystems and the role of education in economic development. I also recommend reading about Azerbaijan's 2030 innovation agenda, which provides insights into the country's strategic goals for R&D and industrial growth.