Deutsche Bahn, Bankset test PV systems on railway in Germany    Misr Cement Group starts operating and maintaining its own factory in Qena    Kira Wal Gin movie breaks records at Egypt cinemas    Gold prices in Egypt on July 6    Egypt condolences Iran over recently earthquake – minister    Egypt introduces first beach for visually-impaired guests in Alexandria    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Egypt's Petrojet returns to Libyan oil sector after 11 years    Saudi citizens could enter Schengen countries visa-free    Cemex, VeryNile sign deal for Egypt's Nile River    Congo needs Egypt's expertise to diversify its economy – FPI official    Dostarlimab drug cures rectal cancer patient 100%, trials show    Egypt: A royal train turns into a new tourism attraction    For the first time John Legend to perform in Egypt    Noura Al-Mutair – first Gulf female boxer in World Championships    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Egypt to play key role in integrating water, climate issues globally – World Bank official    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's drops 4 positions in global innovation index 2020
Published in Amwal Al Ghad on 24 - 12 - 2020

Egypt's has dropped in rank on the global innovation index (GII) from 92nd place in 2019 to 96th for 2020, while the country has maintained its 14th place among Lower-Middle (LM) income countries.
On the other hand, the GII report showed that Egypt has moved up from 106th place to 104th in the innovation input sub-index, while keeping its 18th place among the LM income countries in the same index.
Egypt is also among the top ten in innovation in Africa, according to the GII.
The index, however, put Egypt among 11 economies that are now performing below expectations for their level of development, despite initially performing at expectations in light of COVID-19 and its associated impacts.
The 11 economies are Sri Lanka, Uruguay, Cameroon, Egypt, Argentina, Azerbaijan, Ethiopia, Slovakia, Chile, the Ivory Coast, and Cambodia.
The report pointed out that these eleven economies were already on the fringes of performing below expectations in 2019.
Concerning the COVID-19 crisis and its associated challenges, the report said that the pandemic hit the innovation landscape at a time when innovation was flourishing.
"In 2018, research and development (R&D) spending grew by 5.2 percent — significantly faster than global GDP growth — after rebounding strongly from the financial crisis of 2008-2009. Venture capital (VC) and the use of intellectual property were at an all-time high. In recent years, political determination to foster innovation has been strong, including in developing countries, there is a relatively new and promising trend towards democratising innovation beyond a select number of top economies and clusters only," the report read.
The report also expected innovation finance to decline amid the pandemic, based on the sharp drop in venture capital deals across North America, Asia, and Europe, without setting the amount of the expected decline due to the uncertainty the pandemic imposes.
On the other hand, the crisis has only reinforced the decline in VC deals that had started before the pandemic, according to the report.
In this regard, the report showed that VC investors began, amid the pandemic, to centre on so-called "mega-deals" to boost a select number of large firms rather than inject investments to a broader base of fresh start-ups.
The report expected that VC investments to take longer to recover, adding that the impact of this shortage in innovation finance will be uneven, with negative effects felt more heavily by early-stage VCs, by R&D — intensive start-ups with long-term research interests in fields such as life sciences, and ventures outside of the top VC hotspots.
"Indeed, current VC investments are concentrated in a few VC hot spots in the world, and only a few of those hot spots are in emerging economies — notably in China and India," said the report.


Clic here to read the story from its source.