Data released from the 2023 Global Innovation Index (GII) shows the UK remains in fourth place out of 132 countries.
George Freeman, Minister of State for the Department for Science, Innovation and Technology, has said the innovation economy will create hundreds of thousands of jobs over the next ten years, at the University of Oxford’s UK launch of the Global Innovation Index. Consisting of 80 indicators, grouped into innovation inputs and outputs, the GII captures the multi-dimensional facets of innovation, informing an annual ranking across 132 countries.
Soumitra Dutta, Peter Moore’s Dean at Saïd Business School, and co-editor of the GII, set out the 2023 UK data at the event on Monday. The UK ranks highly, coming in fourth overall, for the fourth consecutive year. It recorded its best performance in creative outputs, such as intangible assets and trademarks by origin, where it placed second, and market sophistication, such as credit and finance for startups and scaleups, where it placed third.
Oxford was also ranked as the world’s third biggest science and technology cluster, established through analysis of patent-filing activity and scientific article publication, documenting the geographical areas around the world with the highest density of inventors and scientific authors.