International companies consult the innovation index to plan for future investments abroad.
Rabat – Morocco did not appear on the Bloomberg Global Innovation Index for the second time in a row.
The New York-based company published the index on Saturday, January 18.
Major international companies use the Index as an accredited reference to determine their future investments abroad.
The index is based on 7 criteria: State investments in scientific research, the industry added value, productivity, the dynamic of the service sector, the number of local companies active in technology, the number of patents registered within the country, and the number of researchers compared to the national population.
While Morocco is experiencing a setback in innovation, Algeria and Egypt appeared on the index for the first time.
Algeria made a strong debut at the 48th place, while Egypt came in at number 58. Tunisia maintained its place at number 52.
Globally, Germany is the leader in terms of most innovative countries, outpacing South Korea’s six-year reign. Singapore came in 3rd position, climbing three spots, followed by Switzerland, Sweden, Israel, Finland, Denmark, the US, and France.
The Bloomberg index noted that in order for nations to be shortlisted, they should provide data on at least six categories.
“The 2020 ranking process began with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn’t report data for at least six categories were eliminated, trimming the total list to 105. Bloomberg publishes the top 60 economies.”