The Gulf nation is the third fastest-rising country according to the latest Global Innovation Index 2022.

Qatar is making waves in the world of innovation, ranking as the third fastest-rising country in the Global Innovation Index of 2022, a top official highlighted during a recent event.

Overall, Qatar is placed 52nd globally with a score of 32.9, according to the GII 2022 rankings, while Switzerland has retained its position as the world’s most innovative economy for the 12th consecutive year.

The United States, Sweden, the United Kingdom, and the Netherlands follow in the rankings. China is edging closer to the top 10, while Türkiye and India have made their debut in the top 40.

Omar Ali al-Ansari, Secretary-General of the QRDI Council, credited this growth to Qatar’s investment in promoting innovation and the support of various agencies, including Qatar Development Bank, Investment Promotion Agency, QSTP, Freezones, and academic research institutes.

“This is because Qatar has a lot of the ingredients in place to promote innovation. QRDI provides the strategy and various other supporting agencies play an important role,” the official said.

“Agencies such as Qatar Development Bank, Investment Promotion Agency, QSTP, Freezones, and the strong academic research institutes play an important role resulting in Qatar becoming a fast-rising nation in innovation in the global innovation index.”

Al-Ansari shared the news at the launch of the Qatar-Spain Innovation Programme (QASIP), the first bilateral innovation programme in Qatar.

The QASIP is a collaboration between Qatar and Spain and aims to incentivise the private sector’s talent and capability in both countries.

“It is one of a kind collaboration and it is the first time such a vehicle is used to incentivise the private sector capability and talent in Qatar,” he explained explained

The programme aims to bring together Qatari and Spanish companies in the field of innovation to address common challenges and solve shared interests, such as food security, water security, precision medicine, and energy efficiency.

“The programme is the first fruit of this cooperation in order to link Qatari and Spanish companies to develop advanced innovative solutions that bring together the brightest minds and innovation talents from both countries,” Qatar News Agency said, citing the official

The QASIP aligns with two Memoranda of Understanding (MoU) signed between Qatar and Spain last year, bringing together the Ministry of Innovation and Science and the Centre of Technology Development and Innovation.

Al-Ansari said Doha collaborated with Spain to turn their programmes into practical initiatives, which led to the creation of the Qatar-Spain Innovation Programme. He explained that the goal of this project is to connect Qatari and Spanish companies in the field of innovation, with the aim of tackling common challenges faced by both countries and solving shared interests.

Such a programme puts the private sector at the forefront of innovation, allowing both countries to spearhead the field while incentivising them to pool their resources together to solve common challenges.

“We are doing it by enabling the innovation in the private sector from both sides to become the spearheads of this programme. We are putting the private sector at the forefront and supporting and incentivising them, pool the resources together and solve the common challenges.”

The private sector can tap into academic institutions’ infrastructure by using their talents, labs, or other facilities. The official believes that QASIP will play a crucial role in addressing innovation challenges in Qatar and Spain, leading to significant progress in both countries.

Why innovation matters

Qatar’s ranking as the third fastest-rising country in the Global Innovation Index of 2022 is significant for several reasons.

First and foremost, innovation is essential for economic growth and development and is a major factor in the advancement of many industries, including healthcare, energy, and transportation. The rise of Qatar in this index shows that Doha has come a long way in fostering an environment that encourages and supports innovative thoughts and projects.

Second, Qatar’s rising position in the innovation index may draw more investors, companies, and entrepreneurs. An area with a higher innovation ranking likely has an innovation-friendly ecosystem in place, making it a desirable location for those looking to start or invest in innovative projects.

In addition, the Gulf nation’s high ranking in the index demonstrates its dedication to fostering innovation and developing a knowledge-based economy.

This supports Qatar’s goal of developing a sustainable, diversified economy that is less dependent on natural resources.