Hong Kong among 10 most innovative nations

It grabbed the 7th spot.

The Global Innovation Index indicates that Hong Kong makes full use of its local advantages while maintaining a global outlook on markets and talent. It also shows that innovation hubs are increasing around the world despite the difficult state of the global economy.

The World Intellectual Property Organization (WIPO) advises national-level policy makers not to emulate successful innovation models of other nations but focus more on realizing the full potential of innovation in their home country.

It noted that innovation is rapidly becoming a rallying symbol for forces of progress and reform around the world and is a source of optimism about the future of global innovation and economic recovery.

Eighteen emerging economies including China, India and Malaysia demonstrate rising levels of innovation compared with their peers, according to the index.

The nations that are not performing can increase their innovation capabilities by establishing hubs in which large companies, whose business goals are aligned with the objectives of the innovation hub, can play a significant role.

These enterprise champions can facilitate the building of hub capabilities and their talent pools by stimulating innovation and by helping to bridge the gap between research and commercial success.