The document discusses the Innovation Index, which is published annually and ranks countries based on their environment and outputs related to innovation. It is compiled by Cornell University, INSEAD, and the World Intellectual Property Organization. An advisory board provides guidance and experts from various fields contribute to ensure credibility. The data is audited to check for errors. The index framework allows for comparison to previous years and breaks down data into pillars including institutions, human capital, infrastructure, market sophistication, and others.

1. THE INNOVATION INDEX
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2. www.InnovationGrow.com
The Innovation Index is a publication that is available each year that
showcases a composite ranking of countries in relation to their
accommodation of innovation: both in environment and outputs.
By comparing these values you can get an idea of how the various
economies are faring, and extrapolate the effectiveness of various
innovation styles.
The index for 2013 is being composed by Cornell University, INSEAD,
and the World Intellectual Property Organization.
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IN 2011
In 2011, an advisory board was set up to provide guidance on the
compilation of the innovation index and experts in all fields.
These experts are from international companies, academic institutions
and government offices across the world and come together to
contribute their expert opinion on the process as well as the results of
all of the innovation index data.
Creating such a diverse and balanced view for the project affords
another level of credibility that allows the innovation index to hold
more weight than it otherwise would have.
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Once all of the data has been complied for the innovation index, the
statistics are audited by the Joint Research Centre of the European
Commission.
This extra step ensures that the data is carefully screened for errors that
may have otherwise affected the validity of the report.
Combining all of these factors, the experts, the top institutions that
author the report, the advisory board, and the audit, allows for the
innovation index to be a valuable resource for information regarding
global innovation practices and effectiveness.
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The framework of the innovation index is composed in a structured
manner to allow for easy comparison to previous years.
Starting with the first chapter that displays the results and explaining
the underlying conceptual framework for the rational of collecting and
analyzing the data.
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BOILING ALL OF THIS DATA FROM THE VARIOUS
INPUTS DOWN INTO A SIMPLE AVERAGE
ALLOWS FOR COMPARISON ON PILLARS OR
CATEGORIES THAT CONSIST OF:
• Institutions,
• Human capital and research,
• Infrastructure,
• Market sophistication,
• Business sophistication,
• Knowledge and technology outputs,
• and Creative outputs.
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The data that goes into each of these categories is then divided even
further into three sub-pillars for each main pillar (and then 3-6
indicators for each sub-pillar).
These tables may take a little bit of time to read and understand,
consisting of 84 data points, but they provide invaluable data on global
innovation, once you learn how to read them.
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8. GROWING BUSINESS WITH INNOVATION
For additional information about Business Innovation
please visit www.InnovationGrow.com