The report emphasizes the importance of innovation in driving social and economic development and bridging the wealth gap between emerging and developed countries. It highlights the success of countries like South Korea and Singapore in unlocking the full benefits of nation-wide innovation through a systematic approach that captures policy, governance, innovation engines, and innovation enablers to shape their innovation ecosystem. The report provides a blueprint for policy makers to design an effective National Innovation Ecosystem and highlights successful instruments to drive ecosystem changes. It defines innovation as a new or improved product or process that differs significantly from the unit’s previous products or processes and has been made available to potential users or brought into use by the unit. The report's broader definition of innovation is more inclusive and considers areas such as social and environmental impacts.
