Draper Innovation Index Global November 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

Australia Overtakes Denmark in DII Top 10
Palestine, Lebanon, and Israel Fall Sharply
China and Russia See Small Changes
Argentina and South Africa See Improvements
Seychelles, Gambia, Niger, and Belarus Decline
Japan and Estonia Climb in DII Global Top 20, Chile and Iceland Fall

Oakland, California – Bizworld announces the November 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.

“While this past month saw very little movement in the DII Top Ten, it saw quite a bit of movement further down the ranks,” said DHI founder Tim Draper. “Right now we’re looking at quite a bit of geopolitical uncertainty, not just in Israel and Ukraine but around the world. As a result, we could see dramatic rises and falls over the next few months.”

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Top Takeaways from the DII Global November 2023 Update:

  • Hamas’ attack on Israel – and the resulting regional and geopolitical tensions – saw new U.S. Travel Advisories for Palestine, Lebanon and Israel, which all fell precipitously in the DII Global
  • Palestine saw the largest decline, dropping by 36 ranks in the DII Balanced, 57 ranks in Emerging Innovation, and 34 ranks in Government Quality; Lebanon declined by 21 ranks in Balanced, 36 ranks in Emerging Innovation and 14 ranks in Government Quality.
  • Despite seeing improved bitcoin to local currency performance, Israel’s downgraded U.S. Travel Advisory score pushed it down from 35th to 50th in the DII Balanced, from 37th to 50th in Emerging Innovation and from 39th to 57th in Government Quality.
  • Australia overtook Denmark for the 6th in the DII Balanced scenario due to its AAA credit rating and its currency’s stronger performance against bitcoin.
  • Seychelles also saw significant declines across all the DII scenarios largely due to its currency’s weak performance against bitcoin.
  • Gambia suffered from a similar currency weakness relative to bitcoin, and fell by 7 ranks in the DII Balanced, 9 ranks in Emerging Innovation and 8 ranks in Government Quality.
  • China saw very little changes in its DII Global rank rise slightly from 49th to 48th, fell from 19th to 20th in Emerging Innovation, and remained at 125th place in Government Quality.
  • Argentina saw the single largest improvement in the DII Global scenario, jumping 10 ranks from 149th to 139th, thanks to improvements in bitcoin to local currency performance.
  • Liberia and South Africa saw the second largest improvements; both countries improved by 7 places in the DII Global thanks to local currency to bitcoin performance.
  • Recovering from last months’ performance, Estonia not only improved by 2 ranks in the DII Global but also broke back into the Emerging Innovation scenario’s Top 20.
  • Niger fell further in the DII Global from 201st to 209th.
  • Belarus fell 7 places in the DII Global to 200th, 8 places in Emerging Innovation to 198th, and 3 places to 202nd in Government Quality.
  • Chile’s below average bitcoin to local currency performance pushed the country down from 16th in the DII Global to 19th.
  • With its currency slightly underperforming ranked peers, Iceland saw a minor decline from 17th to 18th in the DII Balanced.
  • Japan climbed higher in the DII Global Top 20, jumping from 20th to 17th.

“You’ll probably notice that local currencies’ performance relative to bitcoin played quite a significant role this month in movements up and down the DII ladder,” said DHI Chief Economic Advisor Dr. Wallace Walrod. “This is an important reminder that we’re still in the very early stages of revolutionary cryptocurrency, blockchain, and similar Fintech technologies, and that we’re only beginning to see what their full economic impact might be.”

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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