Draper Innovation Index Global December 2023

Draper Hero Institute Updates Monthly Draper Innovation Index Global
Nations Compete to Land in Top Ten of Best Places Globally to Launch a Startup

Sweden Climbs over Denmark in DII Global Top 10
Turkey Sees Largest Improvement
Suriname, Jersey, and French Polynesia Post Strong Gains
Malawi Suffers Largest Decline
St. Vincent and the Grenadines Aruba, Bonaire, Fall
China Again Sees Declines Across All DII Global Scenarios
Germany and Ireland Rise in DII Global Top 20, South
Korea and Japan Fall

Oakland, California – Bizworld announces the December 2023 update to the Draper Innovation Index Global (DII Global), which evaluates each nation’s ability to develop, support, and retain entrepreneurs, innovators, start-ups, and investors. “This December’s rankings represent an evolving global entrepreneurial environment,” said DHI founder Tim Draper. “2024 will undoubtedly have its share of economic and geopolitical upheavals, as 2023 certainly has. This points once again to the fundamental fact that countries deciding to favor of economic freedom policies and investments are their efforts pay off in our results. Second, this month’s DII Global results speak to the sheer amount of time and effort it can take to lay these key foundations for a strong economy. You can’t do it overnight.”


Top Takeaways from the DII Global December 2023 Update:

  • Within the DII Global Top 10, Sweden outperformed Denmark in local currency to bitcoin and overtook it for 7th place.
  • After several months of decline and an upgraded outlook to ‘positive’ from the S&P Country Credit Ratings, Turkey saw the largest increase, jumping from 111th to 74th
  • Suriname also saw a boost from an upgrade to ‘stable’ outlook., rising 16 places.
  • Following comparably stronger local currency to bitcoin performance, Jersey improved by 14 ranks.
  • French Polynesia benefitted from the French Pacific Franc’s stronger performance, rising from 119th to 112th
  • Malawi was downgraded in S&P Country Risk Ratings and dropped 23 ranks.
  • Saint Vincent and the Grenadines, Aruba, and Bonaire all fell, by 14 places, 12 places, and 12 places, respectively.
  • China saw its DII Global ranking fall from 48th to 52nd, its Emerging Innovation rank fall from 20th to 22nd and its Government Quality ranking sink from 125th to 126th
  • Within the DII Top 20, Germany and Ireland rose to 13th and 14th places, respectively, while South Korea declined slightly from 13th to 15th
  • With comparatively worse performance in local currency to bitcoin, Japan saw its rank fall fromv17th to 20th

“Global credit ratings and currency fluctuations played a fairly significant role in movements across the DII Global rankings this month,” said DHI Chief Economic Advisor Dr. Wallace Walrod. “Turkey, for instance, after falling in the rankings for most of 2023, rose by nearly forty places, mainly due to an upgrade in its S&P rating. This points to the need for sound national-level fiscal policy, which serves as a key foundation for improving a country’s economic, investment, and entrepreneurial climate.”

The DII Global will release monthly updates to continually reflect the latest developments in global innovation and entrepreneurship available here.

Download the press release

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