The Philippines improved its ranking in the 2023 Global Innovation Index by three jumps to secure the 56th spot, with a government official attributing this development to increased investments in smart technologies.
The Department of Trade and Industry (DTI) recently reported this good development. It said the Philippines “performed well” in the following segments: Business sophistication (38th), Knowledge and Technology outputs (46th), and Market Sophistication (55th). However, there need to be more interventions to advance our Human capital and Research (88th), Infrastructure (86th), and Institutions (79th).
The DTI noted that the Philippines has been “surpassing expectations on innovation” in the past five years.
Its chief Fred Pascual said the national government would continue to push for innovation across all sectors to make them competitive in the global market.
Reacting to this good news, Department of Science and Technology (DOST) Secretary Renato Solidum Jr. said that the country’s latest feat in the field of technology mirrored local players’ commitment to investing in new digital tools.
“Technology translation initiatives include transfer and adoption or commercialization. We will continue to support technology business incubation hubs in universities and startups, and also implement with LGUs (local government units) the development of smart and sustainable communities through adoption of smart technologies,” Solidum said.
The DOST official said they hope to support local companies to drive innovation through banner programs such as the Science for Change Program (S4CP), Small Enterprise Technology Upgrading Program (SETUP), and the Community Empowerment through Science and Technology (CEST).
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