Brazil tops the Global Innovation Index in Latin America, says the National Confederation of Industry (CNI) and Sebrae.
On the world stage, Brazil holds the 49th spot. Compared to last year, it climbed five ranks.
Yet, the CNI feels Brazil still lags behind its potential as the world’s 10th-largest economy. Its highest rank was 47th in 2011.
CNI President Robson Braga de Andrade sees room for growth. “Targeted investments in science and tech can boost innovation,” he notes.
For instance, better integration between scientific and business sectors could be a catalyst.
Let’s look at the top 10 countries in innovation:
Switzerland
Sweden
United States
United Kingdom
Singapore
Finland
Netherlands
Germany
Denmark
South Korea
In the Latin American context, the positions are:
Brazil at 49th
Chile at 52nd
Mexico at 58th
Uruguay at 63rd
Colombia at 66th
Argentina at 73rd
Costa Rica at 74th
Peru at 76th
In terms of BRICS nations:
China holds 12th
India is at 40th
Brazil stands at 49th
Russia takes 51st
South Africa is at 59th
These rankings were unveiled on September 27, 2023. The event was the International Industry Innovation Congress in São Paulo.
The World Intellectual Property Organization releases this index annually. They collaborate with the Portulans Institute and global partners.
In Brazil, the CNI and Business Mobilization for Innovation have been partners since 2017.
Background
This rise in the Global Innovation Index suggests Brazil is making progress. However, it’s essential to consider that Brazil still has untapped potential.
As the world’s 10th largest economy, a 49th rank shows a disconnect. Notably, Brazil was two spots higher in 2011.
There is a need for targeted policies to stimulate more rapid growth in tech and science.
Comparatively, BRICS nations like China and India have higher ranks, pointing to a competitive gap.
Focusing on creating synergy between the business and scientific sectors could be a game changer.
Continuous evaluation and strategy shifts are vital for maintaining an upward trajectory in innovation.