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

Singapore (7th) Overtakes Australia (8th) and Finland (9th)
New Zealand Pushes Netherlands Out of DII Global Top 10
Estonia and Iceland Climb in DII Global Top 20, Ireland and Japan Fall
China Declines Again to 60th in the DII Global
Antigua and Barbuda, Paraguay, Botswana, and Guyana Rise
Zimbabwe, American Samoa, French Polynesia, Suriname, and Nicaragua Fall

Oakland, California – BizWorld announces its November 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. In this month’s update, the DII Global saw several of its annual metrics updated including: the United Nation’s Development Program’s Human Development Index, World Intellectual Property Organization’s Global Innovation Index, and Foreign Direct Investment (World Bank.)

“Singapore rose from 9th place to 7th in the DII Global due to a variety of factors,” said BizWorld founder Tim Draper. “It attracted more foreign direct investment, rose in the UN Human Development Index, and boosted AI and Machine Learning-related investments. Foreign direct investment remains a critical driver of economic growth. Boosting foreign direct investment, which often involves removing barriers to foreign capital investment, is a powerful strategy for rapidly improving a nation’s entrepreneurial climate.”

Top Takeaways from the DII Global November 2024 Update

• Singapore overtook Australia and Finland for 7th thanks to improvements in the UN Human Development Index, foreign direct investments, and increasing investments in AI/Machine Learning.
• New Zealand pushed Netherlands out of the DII Top 10 due to stronger performances in foreign direct investments and AI/Machine Learning investment growth.
• A much stronger UN Human Development Index score, combined with higher foreign direct investments, drove Estonia up from 18th to 14th.
• Iceland also rose due to strong venture capital trends.
• Japan, on the other hand, fell from 14th to 18th i due to declining performances on WIPO’s Global Innovation Index and the UN Human Development indices.
• Zimbabwe saw the largest decline, falling 35 placesdue to declines in the UN Human Development Index, Global Innovation Index, and negative venture capital trends.
• Ireland fell from 12th to 16th place on the DII Global place due to lower foreign direct investments and slowing venture capital investment.
  China fell to 60th due to declining venture capital trends, particularly in AI/Machine Learning.
• American Samoa fell 26 places in the DII Global due to falling venture capital investment while French Polynesia declined 22 places due to declining foreign direct investments.
• Antigua and Barbuda (+27), Botswana (+23) and Lesotho (+18) all rose in the DII Global due to better venture capital trends and improved ranks on the UN Human Development Index.
• Registering the second largest increase, Paraguay improved 24 places driven by a considerable improvement on its UN Human Development Index and solid venture capital growth .
• Guyana jumped 20 places, benefitting from strong growth in foreign direct investment and an improvement in its UN Human Development Index.
• Suriname’s worsening UN Human Development Index pushed it lower by 19 places in the DII Global.

“Weak venture capital investment trends were a major factor in a number of declines rankings in the DII Global rankings this month,” said BizWorld Economic Advisor Dr. Wallace Walrod. “China, Hungary, Ireland, Zimbabwe, Suriname, and others fell for this reason, while countries like Singapore and New Zealand rose because of improved venture capital momentum, especially in AI/Machine Learning. The obvious connection between venture capital to entrepreneurship means that policymakers need to consider strategies for making their economies more inviting to domestic and international venture capitalists, such as through favorable tax and cryptocurrency policies.

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/