The Philippines improved its ranking to 83rd on the 2015 World Intellectual Property Organization (WIPO) Global Innovation Index (GII).
The current rank is up 17 notches from last year’s WIPO GII country standing at 100.
The spot refers to the country’s weight as the most innovative economy in terms of business adopting technology among 141 economies in the survey, up to 31.05 from the previous score of 29.87.
The GII uses two main indices – the Output Subindex and the Innovation Input Sub-index in its ranking to determine whether an economy has actual evidence of innovation and is enabling innovation.
The new ranking makes the country the fifth most improved economy.
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