WIPO has released its 2024 World Intellectual Property Report titled “Making Innovation Policy Work for Development.” This report explores how effective innovation policies can help bridge the economic gap between the world’s poorest and richest nations by promoting sustainable economic growth. A central theme is the role of knowledge in driving innovation. The report categorizes knowledge into embodied, codified, and implicit forms, each contributing differently to industries like ICT. However, transferring tacit knowledge remains challenging, often leading to regional dominance in specific sectors. For instance, Germany and the United States excel in producing stereoscopic microscopes and aircraft landing gears, respectively.
Moreover, WIPO emphasizes leveraging existing scientific, technological, or production-based innovation capabilities to foster development. Analysis of 154 countries reveals that a few top-performing nations dominate global exports, scientific publications, and patents, suggesting other countries can strategically enhance their innovation ecosystems to catch up. Finally, the report also examines how different sectors, such as agricultural technology and the motorcycle industry, have utilized local innovation capabilities to achieve global success. WIPO advocates for robust science, technology, and innovation (STI) ecosystems and strong innovation policies to drive investment in emerging technologies and ensure long-term industrial development.
Read the full report here.
Source: INSME Secretariat
