Peru showing potential for innovation take-off

By Espinosa Bellido Abogados

Peru ranks 69th in the World Intellectual Property Organization (WIPO) Global Innovation Index 2019, moving up two positions from 2018. The economy progressed the most in human capital and research (66th), infrastructure (65th), and creative outputs (79th). According to the report, Peru scored above the regional average in all innovation input pillars, “showing potential for take-off in the future”.

The National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi) of Peru highlighted the country’s performance and the deepening of Indecopi’s programs and measures towards promoting innovation in Peruvians students, businessmen and inventors.

The Global Innovation Index provides annual detailed metrics about the innovation performance of countries and economies around the world. In 2019 its 80 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication, analyzing the medical innovation landscape of the next decade, looking at how technological and non-technological medical innovation will transform the delivery of healthcare worldwide.

Peru gained positions in human capital and research due in part to available coverage for indicators in tertiary education, mainly tertiary enrolment and graduates in science & engineering. Peru also moved up in creative outputs with gains in entertainment & media market and printing and other media.