Karnataka Again Top State On Innovation Index

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Karnataka State - News, Market, Economy, GDP

Karnataka again topped Innovation Index for 2020 released by the NITI Aayog, whereas Delhi has remained the most innovative destination among Union Territories (UTs). Karnataka (42.5) has led the pack of major states in the Innovation Index. However, the average scores in innovation among major states and UTs are just 25.35 and 26.01, respectively, out of 100. Maharashtra has overtaken Tamil Nadu to grab the second spot. Himachal Pradesh remained the top performer among North-Eastern and hill states. The low scores reflect markedly poor spending of states on research and development.

According to the Innovation Index report, southern India has consolidated its position as the innovation hub, as four states feature in the list of the top five innovative states. The Index is prepared by the NITI Aayog in collaboration with the Institute for Competitiveness. It has five indicators that capture aspects of a conducive environment, while two others demonstrate innovation results.

Karnataka’s lead position is attributed to its strong number of venture capital deals. Maharashtra has scored 38, while Bihar finishes the last with 14.5.

Among UTs, Delhi’s ranking was propped up by the highest number of trademark and patent applications filed by it, along with the establishment of new start-ups and companies in the last financial year.

About the author: IE&M Team
IE&M Team
Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.

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