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Building on gains in global innovation rankings

18 July 2014

Minister for Industry Ian Macfarlane today launched the Global Innovation Index 2014 and said Australia would continue to consolidate its position in global supply chains and global markets as local industries moved towards a new future.

Australia’s strengths in trade and competition, with a top ranking, along with strong performances in tertiary education (ranked 7th), research and development (8th) and general infrastructure (9th) has seen Australia move up two places to 17th from a ranking of 19th last year.

“The Global Innovation Index 2014 shines a light on the creativity, inventiveness, business capability and innovative spirit of Australians,” Mr Macfarlane said.

“The challenge now is for Australia to make further gains by building on our areas of competitive strength.  We have a strong base to work from, with Australia recording a solid global performance, coming fourth overall in our region and sitting among the world’s top ten economies with enabling conditions for innovation activity.

“Building on our nation’s successes and providing the right framework to encourage the next wave of entrepreneurship and investment in the industries of the future are at the heart of the Government’s industry policy.

“We will continue to strengthen the productivity and international competitiveness of Australian industry by developing an industry growth strategy to increase investment, jobs and exports and by assisting Australian firms and researchers to accelerate the commercialisation of their intellectual property.”

Dr Francis Gurry, Director General of the World Intellectual Property Organization (WIPO – a United Nations agency and co-authors of the Index) joined Mr Macfarlane at the launch.

“Launching the Global Innovation Index 2014 (GII) in the run-up to the G20 hosted by the Australian Government is a great honor. The GII is a unique tool for measuring and improving innovation performance. It recognises the centrality of innovation for a job-rich, strong, sustainable and balanced growth path – as envisioned by the G20 leadership,” Dr Gurry said.

The GII 2014 surveys 143 economies around the world, using 81 indicators to gauge their innovation capabilities and measurable results. Published annually since 2007, the GII is now a lead benchmarking tool for business executives, policy makers and those seeking insight into the state of innovation around the world.

For more information, go to: http://www.globalinnovationindex.org/.

Media contact: Mr Macfarlane's Office 02 6277 7070