Innovation for Hong Kong's Upward Social Mobility

7 1 The Urgency for Further Developing Hong Kong’s Technology and In novation Industries 1.2 An Alert from “Global Innovation Index 2020” 1.2.1 Over the past decade or so, the annual “Global Innovation Index” published by the World Intellectual Property Organization (WIPO) provides data and insights for different economies around the world to facilitate discussions and policies on innovation. The latest 2020 report “Global Innovation Index 2020 - Who Will Finance Innovation?” expounds the trend of world innovation and evaluates the performance of 131 economies in terms of innovation. Table 1.1 Framework of the Global Innovation Index 2020 6 • Political environment • Regulatory environment • Business environment • Education • Tertiary education • Research and development, R&D • Information and communication technologies, ICTs • General infrastructure • Ecological sustainability • Credit • Investment • Trade, competition, and market scale • Knowledge workers • Innovation linkages • Knowledge absorption • Knowledge creation • Knowledge impact • Knowledge diffusion • Intangible assets • Creative goods and services • Online creativity Institution Creative outputs Knowledge & technology output Business sophistication Market sophistication Infrastructure Human capital & research Innovation Input Sub-Index Innovation Output Sub-Index Global Innovation Index 6 WIPO, Global Innovation Index 2020