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

Denmark and Singapore Rise in Top DII Global Top 10, Finland Falls
Netherlands Moves into Top 10, New Zealand Falls Out
China Falls 7 Places to 64th
South Korea Rises to 17th
Kyrgyzstan, Belize, and Tunisia Climb
Bangladesh, Turkey, and Lebanon Fall

Oakland, California – BizWorld announces its August 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’s update includes an update replacing Chainanalysis’s Global Crypto Adoption Index with Triple-A’s Global Cryptocurrency Ownership metrics, the inclusion of investments by country into Artificial Intelligence (AI) and/or Machine Learning, and the quarterly update of the World Uncertainty Index. These additional and updated metrics both provide improved detail on global innovation and reflect investment trends into new and emerging technologies.

“China fell across all three scenarios due in large part to our incorporation of Triple-A’s Global Cryptocurrency Ownership rankings,” said BizWorld founder Tim Draper. “Despite being the world’s largest country and the second largest economy, it is currently just 64th in our DII Global Balanced Scenario and 136th in Government Quality. If you look at this month’s top ten, on the other hand, it features much smaller economies such as Finland, Netherlands, and Singapore. Sheer size in terms economic activity, in other words, doesn’t necessarily lead to innovation and entrepreneurship. You also need a supportive government, regulatory, and social environment.”

Top Takeaways from the DII Global August 2024 Update

• Driven primarily by a lower rank in Triple-A’s Global Cryptocurrency Ownership data, China fell from 57th to 64th in the DII Global. It also fell in the Emerging Innovation and Government Quality scenarios.
• After falling from 8th to 4th last month, Denmark rebounded to 7th in the DII Global, benefitting from high ranking in Triple-A’s Crypto Ownership and a strong S&P Country Rating.
• Following Denmark, Singapore also edged up from 9th to 8th in the DII Balanced due to improvement in its World Uncertainty Index and a 2nd place ranking in Triple-A’s Crypto Ownership.
• Finland fell from 7th to 9th on the DII Balanced Scenario due its lower Triple-A Crypto Ownership ranking, especially compared to Denmark and Singapore.
• Netherlands broke into the DII Top 10 due in large part to its strong AI/Machine Learning investments.
• New Zealand traded places with Netherlands, dropping from 10th to 11th, as its World Uncertainty Index slightly declined from Q1 2024 to Q2 2024.
• South Korea rose 4 places 17th due to its comparatively strong local currency to bitcoin performance and AI/Machine Learning investments.
• Kyrgyzstan improved considerably in the rankings, moving from 141st to 119th in the Balanced Scenario due primarily to an improved World Uncertainty Index and improving local currency to bitcoin performance.
• Supported by comparatively strong local currency to bitcoin performance, Belize jumped from 114th to 95th.
• Improvements in both its World Uncertainty Index and currency to bitcoin performance pushed Tunisia up from 139th to 122nd.
• Due to violent protests, the U.S. State Department has given Bangladesh a “Do Not Travel” designation. This, combined with a downgrade in its S&P Country Rating, has pushed the country’s DII Global ranking down from 185th to 200th.
• Lebanon, which also received a “Do Not Travel” advisory, fell from 158th to 172nd.
• Turkey continues to fall due to its high rates of inflation, local currency performance to bitcoin and a declining performance on the World Uncertainty Index. This month, it fell from 115th to 130th.

“The U.S. State Department’s ‘Do Not Travel’ advisories pushed two nations down the DII Global ranking leaderboard this month,” said BizWorld Chief Economic Advisor Dr. Wallace Walrod. “There are currently 21 countries with ‘Do Not Travel’ advisories. All rank near the bottom across all three DII Global scenarios, even those with larger economies like Russia. Even in a post-pandemic, digitally connected world, travel and in-person meetings are still deeply important for any economy – and getting cut off from global travel due to safety concerns affects a country’s overall economic outlook, particularly for investors, innovators, and entrepreneurs.”

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/