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Tuesday, September 17, 2019

DTI hails PH ranking on innovation index

THE Department of Trade and Industry (DTI) welcomed Wednesday the improvement on the Philippine ranking in the 2016 Global Innovation Index (GII) report.

The Philippines ranked 74th as the most innovative country among 128 economies surveyed, up by nine notches from its 83rd rank last year.

“We are happy to know that through this GII survey, we know how our country has improved and how Filipinos can achieve the innovation economy that we all aspire for. This would push us to extend more efforts in making innovation as a mindset for every Filipino,” said DTI Industry Promotion Group Undersecretary Nora Terrado.

With “Winning Global Innovation,” as the GII 2016’s theme, the report discussed the growing importance of innovation among countries today in achieving future economic growth and the sharing of knowledge cross-border through global innovation networks.

With GII, it includes indicators that go beyond the traditional measures of innovation such as the level of research and development that can be applied for both developed and emerging economies.

The Philippines’ biggest gain is seen in human capital and research, where it ranked 95th from 123rd in 2015. It measured the quality of the country’s education with its research and development.

“Innovation encompasses intensified research and development activities among universities and we hope to tap higher educational institutions with the help of other agencies like the Department of Science and Technology (DOST),” Terrado said.

She also highlighted the collaboration of DTI and the private sector in advancing the Startup Ecosystem Development Program (SEDP) which will help enhance the climate for startup businesses, increase the success rate of Filipino innovative enterprises in introducing their products and services in the local and international markets. (SDR/Sunnex)
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