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!

The Peer Groups

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.

  • Most Favorable: Leaders in Business, Technology and Innovation
  • Favorable: Strong in Technology & Innovation; Average in Business
  • Somewhat Favorable: Room for improvement in Business, Technology and Innovation
  • Least Favorable: Tough challenges across indicators

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.

Innovation is enabled by access to latest technology and reliance on professional management

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:

  • High Income
  • High Availability of Technology
  • High Reliance on Professional Management
  • High Innovation

Innovation is aligned to the strength of business and innovation environment in most High Income Countries

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:

  • High Income
  • High Innovation
  • High Business & Innovation Environment

Potential for Innovation in High Income Countries and Strength of Business Framework Do Not Necessarily Align with Appetite for Entrepreneurship

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:

  • Mostly Lower Middle and Low Income
  • Low Innovation
  • High Desire for Entrepreneurship as Career Choice

Countries with higher appetite for entrepreneurship also perceive their country to offer opportunities to start a firm

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:

  • High Desire for Entrepreneurship
  • Good Opportunities to Start a Firm (Perceived Opportunities)
  • Weak Reliance on Professional Management

Explore for yourself!

Change the 'X' & 'Y' axes and the 'Size' parameter to discover more insights.

Do (X Axis) & (Y Axis) influence each other? How does (Size) impact this relationship?

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