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Indonesia and innovation: Can they mingle?
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Innovation illustration. (Shutterstock/Olivier Le Moal)
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loomberg, a financial data and media company, on Jan. 22 released the 2019 Bloomberg Innovation Index, which represents a country’s technological advancement and innovation level. It is based on seven criteria: 1) R&D intensity; 2) manufacturing value-added; 3) productivity; 4) high-tech density; 5) tertiary efficiency; 6) researcher concentration; and 7) patent activity.
The index shows that South Korea has been fortifying its position as the most innovative country in the world since 2018. It was followed by Germany and Finland in second and third place. Singapore and Japan, other Asian giants, were in the sixth and ninth positions, respectively. The United States and China, the global superpowers, were ranked eighth and 16th, respectively.
Unfortunately, Indonesia was not included on the list, even though further investigation reveals that Indonesia was not ranked because of insufficient data.
From a methodology point of view, the 2019 Bloomberg Innovation Index ranking process started with a sample of more than 200 countries. Each country was scored between zero and 100 based on the seven equally weighted categories mentioned above. However, nations that did not report sufficient data for at least six categories were eliminated. After the elimination process, 95 countries made it to the list, from which Bloomberg publishes the top 60 countries.
