I think we should do more in the level of innovation in the Philippines given the talent and skills locally available. I am surprised our performance is so low. What gives?
From BusinessWorld Philippines
July 09, 2012
Philippines still low in innovation rankings
THE PHILIPPINES remains in the bottom third of a global innovation ranking despite gains toward achieving its potential, a report released last week showed.
The report noted that the Philippines, which scored 29 out of 100, gained one rank based on the 2011 list but fell five places due to the addition of 16 other countries.
The country’s overall score of 29 was the average of its innovation input sub-index score of 31.7 and innovation output sub-index score of 26.3.
The country’s strengths, the report noted, includes the number of science and technology graduates, efficient use of energy, environmental performance, market capitalization, intensity of local competition, private sector involvement in research and development as well as computer and communication service exports.
It performed poorly, however, in terms of political stability, ease of doing business, public spending on education, teacher-to-pupil ratio, growth of new businesses, computer software spending and recreation and culture consumption.
The Philippines’ performance was the fourth worst in Southeast Asia, with country only besting Indonesia, which ranked 100th; Cambodia (129th); and Laos (138th).
Singapore topped the nine Southeast Asian countries in the list. It was followed by Malaysia (32nd), Brunei (53rd), Thailand (57th) and Vietnam (76th).
The Philippines, however, posted improvements in the innovation efficiency index, where it scored 0.83 points and ranked 32nd out of 141 from 62nd out of 125 in the 2011 list.
This index “serves to highlight those economies that have ‘achieved more with less’ and those that lag behind in terms of fulfilling their innovation potential,” the report said.
“In theory, assuming that innovation results go hand in hand with innovation enablers, efficiency ratios should evolve around the number one.”
The top five countries in terms of innovation efficiency were China (1.13 points), India (1.1), Moldova (1.08), Malta, (1.03) and Switzerland, (1.01).
In the bottom of this year’s list were Sudan (0.44 point), Uzbekistan (0.44 point), Botswana (0.47), Niger (0.47) and Lesotho (0.47).