DHAKA: Bangladesh has been ranked 24th on a Commonwealth Innovation Index launched as part of a new Commonwealth Innovation Hub.
The index was launched as part the innovation hub on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM), which began in London on Monday.
The innovation index, topped by the UK, Singapore and Canada, has been created in partnership with the United Nations Intellectual Property Organization (WIPO) and its annual Global Innovation Index (GII).
“Nearly 60% of the Commonwealth population is under 30 with a lot of talent and innovation and with this new digital platform, we now get to pool it and share it,” Commonwealth Secretary-General Patricia Scotland said.
She said: “This is part of the reform and renewal process of the organization, which will take it into a higher energy orbit and into the information age. It makes the Commonwealth even more relevant and fit for its sharing and caring purpose.”
GIF will manage the fund and its investments, which will be targeted at innovative projects across Commonwealth countries that “save and improve lives.”
GIF highlighted its support for a project in Bangladesh on behavioural insight to increase tax compliance as one of its many innovative funding success stories.
During the ongoing CHOGM, the Commonwealth Innovation Fund will engage with member-countries to gain financial and other support for the fund.
