\u201d<\/sup> he says.<\/p>\n <\/p>\n
\u201cAll of the data from multiple sources reinforces the extent of Australia\u2019s innovation and competitiveness challenge.\u201d<\/p>\n
<\/p>\n
Malley says the WEF report adds to last week’s Global Innovation Index, which ranked Australia 17th in the world.<\/p>\n
<\/p>\n
\u201cWe\u2019re being out-innovated not just by the usual suspects of the US and UK, but also competitor markets in our region like Hong Kong, Singapore and South Korea,\u201d he says.<\/p>\n
<\/p>\n
\u201cNew Zealand is rated as more innovative than Australia.\u201d<\/p>\n
<\/p>\n
Malley says the story is similar again when looking at the 2015 IMD World Competitiveness index, where Australia had dropped from 17th to 18th place this year.<\/p>\n
<\/p>\n
\u201cSadly, we\u2019ve be sliding on this index since 2010 when we ranked fifth,\u201d he says.<\/p>\n
<\/p>\n
\u201cHong Kong, Taiwan, Malaysia and New Zealand are all ranked higher than Australia.<\/p>\n
<\/p>\n
For Malley, the pressure is now on Australian Prime Minister Malcolm Turnbull to start turning some of the findings around.<\/p>\n
<\/p>\n
\u201cThe new prime minister has been at pains to draw a link between Australia’s future prosperity and our ability to leverage innovation to improve our country’s international competitiveness,\u201d he says.<\/p>\n
<\/p>\n
\u201cThe challenge is well and truly ahead for Mr Turnbull.\u201d<\/p>\n
<\/p>\n
This article was originally published on SmartCompany.<\/p>\n","protected":false},"excerpt":{"rendered":"
Australia has made small gains in global competitiveness rankings but there is still a need for increased business sophistication and<\/p>\n","protected":false},"author":1,"featured_media":59681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43642"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=43642"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59681"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=43642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=43642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=43642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}