“The innovation sector has the largest multiplier effect of all on job creation,” said John Danilovich, secretary general of the International Chamber of Commerce, at a Business 20 panel discussion in Sydney, Australia. At the panel he unveiled the 7th edition of the Global Innovation Index 2014 and addressed how G20 targets can be fulfilled by developing the knowledge and innovation sectors.
A leading reference on innovation, the Global Innovation Index ranks world economies according to innovation capabilities and results. This year’s theme, “Human Factor in Innovation,” explored the role of individuals and teams behind the innovation process. The 2014 index features data for 143 countries, with Switzerland at the top of the ranking and the United Kingdom in second place.
“The G20 is looking for all possible drivers of economic growth, including trade and investment in particular.” Danilovich said. “Innovation is a critical engine of business growth and job creation in large and small firms alike.”
Danilovch also stressed the importance of business to support innovation: “Business investment in knowledge-based capital makes a considerable contribution to productivity.” He said. “Market competition requires companies to innovate. The private sector can be a key partner in helping governments find solutions to development challenges, and can accelerate the achievement of core development objectives.”
ICC is actively engaged in encouraging innovation and the development of the knowledge economy through the work of its Commission on Intellectual Property. The commission gathers over 300 business executives and private practitioners from 50 countries to formulate ICC’s intellectual property policy.
On a related note, USCIB’s next Intellectual Property Committee meeting will be held at USCIB’s Washington, D.C. offices on September 11 from 10-12 p.m.
Staff contact: Helen Medina