DUBAI: February 09, 2016. London has topped an index produced by PwC and Dubai’s Chamber of Commerce & Industry to determine the city’s level of innovation compared to 28 other major destinations.
The Chamber said the index reflects Dubai’s quest to being the “smartest city in the world by 2021”. Following London in first place is Hong Kong and Singapore while Dubai is 16th ahead of Madrid, Milan, Sao Paulo, Mumbai, Shanghai and Beijing.
The index, which uses 61 indicators to measure innovation, reflects Dubai’s lead in the field of output and performance, particularly in the launch of new products, services and outputs of technology. However, added the Chamber, intellectual property and opportunities for collaboration with institutions and economies for scientific work “need some more attention”.
President and CEO Hamad Buamim said the index is designed to set a benchmark for measuring innovation. “The aim is to identify what is Dubai’s position in the global innovation scenario, what are the challenges and opportunities faced by the private sector when it comes to innovation, and what can businesses and government do to promote innovation.”
Dubai scored well on several enablers including government support and building a culture of innovation; scored average on funding and political, economic and social environment; and produced lower scores for infrastructure for innovation, skills and talent, according to the Chamber.