Italy is only 28th (out of 50) in the annual ‘Global Innovation Index’ report drawn up by Visual Capitalist
Il ‘Global Innovation Index’ analyses, through 81 indicators, grouped into 7 categories, the propensity for innovation of the countries, determining a global ranking.
The Top 10 sees the first place Swiss (with a score of 64.6), followed by USA (score 61.8), Sweden (61.6), Great Britain (59.7), Holland, South Korea (57.8), Singapore (57.3), Germany (57.2), Finland (56.9) and Denmark (55, 9). France is twelfth with a score of 55.0.
As mentioned, to meet Italy you have to go down to 28th place where the Belpaese ranks with a score of 46.1 significantly detached from the main European countries and in particular France, Great Britain and Germany “to which we should instead be aligned – he comments Giovanna Voltolina, international investor – also because Italy, with its wealth of SMEs with very high added value, has a very high score for the creation of products but very low in the attraction of capital from abroad”.
“Foreigners do not invest in a country where it is difficult to do business”
Italy could really attract capital from all over the world, without for this – underlines the expert – losing control of the company, which is the real impediment of our entrepreneurs in approaching the capital market, where the investor as well as providing financial resources can make his knowledge available to entrepreneurs and relationships to support and accelerate their growth projects’.
Specifically, the 7 survey categories concern Business Sophistication (investments in Research & Development, net inflows of foreign direct investments), Market Sophistication (size of GDP, intensity of local market competition), Infrastructure (roads, hospitals, school buildings , energy efficiency), Human capital and research (state investment per pupil, quality of scientific and research institutions), Institutions (political stability and security, ease of starting a business), Creativity Output (value-added brands, design applications industry, trademark applications), Knowledge and technology (patent applications, increased labor productivity, software expenditure).
“In relation to these categories we are certainly fallacious in terms of infrastructure, policies in support of business investments, in market capitalization and in the number and value of venture capital investments in our country, a value which – explains Giovanna Voltolina – reflects the choice by foreign investors not to focus on a country where doing business is more difficult than in others, and in this we should also work in terms of reputation. However – underlines the international expert – if we look at ‘industrial diversification’ Italy is at the top of the rankings”.
“Moreover, the effects of the ‘Industry 4.0’ provision, the application of which has certainly been positive – reflects the expert – are diminishing, when instead the policies in support of the business are decisive for the economic development of a country. For example, if we analyze the details of the report under this heading, we observe that Switzerland is in first place, Italy is in 77th”.
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