Detailed research and analysis of the innovation capabilities of Georgia and other countries of the former Soviet Union based on data of the years of 2022-2023

Abstract

The aim of the study is to analyze and assess the innovative capabilities of Georgia and other countries of the former Soviet Union, and to develop recommendations in order  to improve this most important component of the country's socio-economic development. A new methodology for identifying innovative opportunities is used in the research process, which (in addition to the widely used Global Innovation Index (GII)) also uses other important socio-economic indicators that have not been used to assess innovation capabilities until now.

The results of the study show that after the "retreat" of 2022, Georgia managed to increase the GII index by two points and increase its innovative capabilities improving its  rating by 8 positions at once. At the same time, a detailed analysis shows that this success has been achieved at the expense of only two main parameters (the proper functioning of State and private institutions, and the business transparency and accessibility). At the same time, Georgia's position in ranking  in five out of seven key factors (human resources and research, infrastructure, market transparency, business transparency, knowledge and technology development product, creative product)    is noticeably lower than the overall Global Innovation Index of 65, which indicates that the innovation system and innovation processes are not properly balanced. Particular attention should be paid to the fact that Georgia's innovation system belongs to the number of the so-called "inefficient" systems and that in Georgia the innovation input in the sample units is approximately twice as high as the results of the innovation process, which significantly reduces the country's innovation potential and hinders its socio-economic development.