Milan 20 November 2023 – Our country’s position in terms of innovation has grown by two steps, but with its 26th place in the ranking, Italy still remains far from the most developed European countries, as well as from those that make up the most advanced economies of the planet (G7) according to the annual and long-awaited Global Innovation Index 2023 report drawn up by WIPO – World Intellectual Property Organization and rationalized by Visual Capitalist, which analyses, through 80 indicators, grouped into 7 categories, the propensity to innovation of 132 countries, determining a global ranking.
“Compared to last year’s survey, our country is taking a small step forward – comments mid-cap investor Giovanna Voltolina – but in my opinion it is both irrelevant and insufficient compared to the talent in innovation that Italy has historically always developed.”
And so if, as mentioned, Italy places 26th, behind Malta, and just ahead of Cyprus, not exactly a pole position, with a score of 46.6 (+0.5 on 2022), the TOP 10 of 2023 sees at first place goes to Switzerland (with a score of 67.6), followed by Sweden (score 64.2), USA (63.5), Great Britain (62.4), Singapore (61.5), Finland (61, 2), Holland (60.4), Germany (58.8), Denmark (58.7) and South Korea (58.6). France, just out of the TOP10, is eleventh with a score of 56.0.
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 industrial, trademark applications), Knowledge and technology (patent applications, increased labor productivity, spending on software).
Categories including – underlines in a note the Italian Representation office at the UN in Geneva (Ministry of Foreign Affairs) - that “in addition to the improvement of two positions compared to the past year, it confirms, on the one hand, the positioning of Italy is among the global leaders in terms of diversification of the national industry, as well as the development of innovation especially in industrial design. On the other hand, the report identifies room for improvement for our economy, especially in relation to the ability to attract foreign direct investments”.
“As the Report also says, we must improve our ability to attract foreign capital – comments Mario Mantovani, president of Manageritalia – To do this, also increasing national private capital and putting it at the service of innovation, we must, however, increase the capacity for managerial management and system of our companies. In addition to being stimulated, innovation must be systematized both in the company and in the supply chains and to do so it is necessary to organize it and give it body and substance so that startups and SMEs can channel it towards new business and organizational models and products and services that develop high value and capacity for compete in the markets. In all of this, greater managerialism in our economic system and an enhancement of everyone’s skills would be the true first and decisive innovation to be implemented”.
To be honest, the government, banking and financial system and public administration develop continuous and rich innovation support plans, but they are frequently aimed at young entrepreneurs, start-ups, innovative projects but “I believe – reflects Giovanna Voltolina international mid-cap investor – that this produces less than what was invested because, and I subscribe to President Mantovani’s thoughts, innovation finds fertile humus in corporate experience. Our companies and SMEs should therefore be the incubators of innovation, and we should invest in them. But even more – continues the mid-cap investor – let the SMEs themselves, overcoming the general recalcitrance of our local entrepreneurs, open up to investors, national or international, who willingly, I say this from my international observatory, together with important capital for the development of the company, processes or products, they can bring global skills, knowledge, experience and contacts (including sales).