BizWorld Updates Monthly Draper Innovation Index Global
Nations Compete to Land in Top Ten of Best Places Globally to Launch a Startup
- Following Shakeup Last Month, DII Top Ten Sees No Change
- India Sees Small Improvement
- Estonia and Iceland Continue to Climb Top 20
- South Korea and Norway Fall
- Marshall Islands, Micronesia, Seychelles Climb
- Namibia, Nauru, Saint Helena, Kiribati Decline
Oakland, California – BizWorld announces its December 2024 update to the Draper Innovation Index Global (DII Global), which evaluates each nation’s ability to develop, support, and retain entrepreneurs, innovators, startups, and investors. First published in 2021, the DII Global provides the most well-rounded and up-to-date look at entrepreneurial environments across the globe.
“This month is a first for the DII Global,” said BizWorld founder Tim Draper. “For the first time, there was absolutely no movement in the top ten. However, there was quite a bit of movement outside the top ten and it had a lot to do with AI/Machine Learning-related investments, or the lack thereof. These technologies have transformative potential in pretty much every industry and are a foundation for innovation and entrepreneurship going forward. Because of this, attracting investment in this space should be a key strategic priority for nations.”
Top Takeaways from the DII Global December 2024 Update
- China and Russia remained at 60th and 209th place, respectively, on the DII Global, but year over year the two countries have fallen from 52nd and 201st, respectively out of the 228 countries in the DII Global
- India rose from 71st place to 70th due to currency performance and AI/Machine Learning investment growth. India’s DII global Government Quality ranking has improved 12 places in the last 12 months.
- Brazil rose from 87th place to 80th due to a variety of improvements: venture capital investment growth in AI/Machine Learning and a strong local currency performance.
- Estonia also rose by one place (from 14th to 13th) due to its stable S&P outlook and AI/Machine Learning investment growth.
- Iceland rose to 15th place due to its relative currency strength
- South Korea (17th) fell two places due to a combination of weaker currency performance and declining investment growth in AI/Machine learning.
- Norway fell from 13th place to 14th due to increased volatility represented by its World Uncertainty Index score.
- Local currencies’ weaker performance caused Namibia, Nauru and Saint Helena to each fall by at least ten places.
- Kiribati fell by two places in the Balanced scenario, 7 places in Government Quality and 15 places in Emerging Innovation due in part to a U.S. State Department “Reconsider Travel” advisory.
- On the other hand, several island nations rose by 11 places in the DII Global due to strong local currency performances, including the Marshall Islands, Micronesia, and the Seychelles.
- Local currency strength offset a U.S. State Department “Reconsider Travel” advisory to push Guyana up from 123rd place to 115th.
- Serbia dropped 7 places in the DII Global due to weak currency performance, no AI/Machine Learning investments and a declining S&P Country Rating.
- The U.S Virgin Islands jumped from 124th to 116th in the DII Global to a stronger dollar.
“While it’s natural to acknowledge the potential of new technologies automating existing occupations, and to prepare for potential labor market and economic impacts, the reality is that they will also create new jobs and economic growth,” said BizWorld Economic Advisor Dr. Wallace Walrod. “The trick, of course, is to minimize the former and maximize the latter. AI and Machine Learning, major factors on this month’s rankings, have tremendous potential for growth and innovation, if supported by strong talent workforce pipelines and the right regulatory frameworks.”
The DII Global will release monthly updates to continually reflect the latest developments in global innovation and entrepreneurship, available here.
About BizWorld
BizWorld.org is a global non-profit organization based in Oakland, CA, whose mission is to enable youth from all backgrounds to unlock the power of entrepreneurship to create career opportunities, inspire self-reliance, and build confidence that drives economic prosperity globally. Founded over 25 years ago by Silicon Valley venture capitalist Tim Draper, BizWorld.org programs teach students real-world 21st century skills and leadership that encourage them to become responsible leaders and entrepreneurs of tomorrow. More than 850,000 students in more than 100 countries have participated in BizWorld programs. https://www.bizworld.org/
