Brazil Climbs Four Positions in 2020 Global Innovation Index Ranking
Driven by the government's comprehensive public policy reforms and programs, Brazil stands out among middle-income countries in innovation
BRASÍLIA, Brazil, Oct. 6, 2020 /PRNewswire/ -- Apex-Brasil, the Brazilian Trade and Investment Promotion Agency, announced today that Brazil has moved up four spots in this year's Global Innovation Index (GII). The Global Innovation Index, released annually, measures the innovative capacity and performance of more than 130 economies around the world. The report also revealed that Brazil ranks fourth among middle income countries when it comes to quality of innovation – and that it is one of only six middle-income countries to remain in the top 100 clusters of innovation.
"Brazil's rise in the global innovation ranking, even amid the challenges of the pandemic, demonstrates the strength of our economy and the resilience of our innovation ecosystem. Over the past several decades, Brazil has implemented a number of policies to strengthen our R&D capabilities and encourage the generation of new ideas and technologies – from providing grants to cutting-edge research labs to offering tax incentives and subsidized credit to creative corporations," said Sergio Segovia, President of Apex-Brasil.
The GII is seen as the premier benchmark for countries' competitiveness when it comes to innovation. Each year, the report is co-published by Cornell SC Johnson College of Business, INSEAD, and the World Intellectual Property Organization (WIPO). To determine global rankings, these organizations use more than 80 different "innovation indicators", evaluating countries' political environment, educational opportunities, infrastructure, business sophistication, and more.
The theme of this year's GII report – "Who Will Finance Innovation?"– zeros in on numerous stakeholders who fund the cultivation of new ideas and technologies. According to the report, Brazil has been setting the stage for increased investment in innovation through tax breaks – including the Lei do Bem (the "Good Law") and the Informatics Law – which incentivize companies to pursue groundbreaking research and enhance their digital capabilities. Likewise, Brazilian business leaders and entrepreneurs can take advantage of a number of programs, like the Innovation Call for Industry, that finance the development of innovative solutions and help companies increase productivity. In fact, since its inception in 2004, the Innovation Call for Industry has supported over 1,150 innovative projects through US$ 134 million in investments.
This year's report also underscored Brazil's healthcare sector as a primary driver of innovation, benefiting from its concerted effort to expand R&D programs. In recent years, Brazil has developed a comprehensive system of public research laboratories, including the Oswaldo Cruz Foundation (Fiocruz), the Adolfo Lutz Institute, and the Butantan Institute. This extensive network has put Brazil on the map as a leading country in epidemiology research – a field that has been driving the fight against COVID-19.
"As highlighted by the theme of this year's report, identifying adequate resources to support and finance innovation is one of the key challenges many countries face today. That's why Apex-Brasil has been proud to support the efforts of Brazil's government and corporations by serving as a 'one-stop-shop' for foreign investors looking to do business in Brazil. We always welcome those who are interested in new and innovative investment opportunities," said Mr. Segovia.
To access this year's Global Innovation Index report, visit: https://www.wipo.int/global_innovation_index/en/2020/
To learn more about Apex-Brasil, visit: http://www.apexbrasil.com.br/en/home.
About Apex-Brasil
The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) works to promote Brazilian products and services abroad, and to attract foreign investment to strategic sectors of the Brazilian economy. Apex-Brasil organizes several initiatives aiming to promote Brazilian exports abroad. The Agency´s efforts comprise trade and prospective missions, business rounds, support for the participation of Brazilian companies in major international trade fairs, arrangement of technical visits of foreign buyers and opinion makers to learn about the Brazilian productive structure, and other select activities designed to strengthen the country's branding abroad. Apex-Brasil also plays a leading role in attracting foreign direct investment (FDI) to Brazil, by working to identify business opportunities, promoting strategic events and lending support to foreign investors willing to allocate resources in Brazil.
Media Contacts
Lilian Leão Alves
Apex-Brasil
[email protected]
+55 (61) 9 8462 0525
YeaJin Lee
Ruder Finn – PR on behalf of Apex-Brasil in the U.S.
[email protected]
+1 931 237 1531
SOURCE Apex-Brasil
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