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Does access to new Technology facilitate Innovation? Does it facilitate Entrepreneurship? The Global Information Technology Report findings tell us that "innovation is increasingly based on digital technologies and business models, which can drive economic and social gains from ICTs...".
We were curious about whether the data on TCData360 could tell a story about influential factors on innovation and entrepreneurship. With over 1800 indicators, we focused on the Networked Readiness Index, as it has indicators on entrepreneurship, technology, and innovation.
Nearly 150 countries across 6 regions were analyzed based on business, technology, innovation and entrepreneurship indicators. (It is important to note that this is not a formal nor offical study, but an exploration of data).
We have highlighted a few insights we gleaned from the data, and created a comparison tool so you can explore for yourself. Let us know what you think!
We analyzed 150 Countries based on scores generated by Business , Technology & Innovation indicators, then used K-means clustering to group countries into four peer groups.
Malaysia is the only upper middle income country in the 'Most Favorable' group. Rwanda, is the only low income Sub Saharan country in the 'Favorable' group. Technology & Innovation is impacted by weak business environment in 'Somewhat Favorable' group. Kyrgyz Republic is the only Europe & Central Asian country in 'Least Favourable' group.
The high innovation zone features high investment in research and development (R&D) with higher collaboration with industry and universities.
Malaysia is the only upper middle income country in this zone.
High innovation countries are characterised by:
The highlighted zone features higher scores in Business & Innovation Environment to support entrepreneurship.
Developed East Asia & Pacific countries - Hongkong, Malaysia, Singapore, Japan & New Zealand have supporting business grounds for Innovation. Puerto Rico is the only economy in Latin America and Caribbean with stronger business framework.
This group is characterized by:
The highlighted zone has weak business grounds to support Entrepreneurship (Business & Innovation Environment) but has higher inclination to have entrepreneurship as desired career choice. These are mostly low income countries of Sub-Saharan Africa and Latin America.
Entrepreneurship as a career choice is high in Pakistan compared to India.
Malaysia has lower Desire for Entrepreneurship and Reliance on Professional Management.
This group is characterised by:
Most of the Sub-Saharan African countries have highest inclination for entrepreneurship and higher (perceived) opportunities to start a firm.
Saudi Arabia & Chile are the only high income countries in this zone.
This group is characterised by:
Change the 'X' & 'Y' axes and the 'Size' parameter to discover more insights.