კონფერენცია

∘ Nutsa Mchedlishvili ∘
GLOBAL INDEX OF INNOVATION IN GEORGIA AND ITS ANALYSIS

Summary

Innovation in the social-economic development of the country must be seen as a form of realization of non-standart, creative ideas. There are many challenges facing economic development of Georgia in the modern reality. Georgia is not distinguished by any significant naturalresources, so it is important for the country to be based on a model of innovative economy.

Innovation has a particular importance for the development of the business sector. It promotes high competitiveness,which in turn contributes to the development of business and ultimately to the economy.

The purpose of the Global Index of Innovation is to highlight the multidimensional aspects of innovation and to identify tools that contribute to sustainable development and job growth.

In the 2019 Global Innovation Index survey, Georgia was elevated to 48^th place with 37 points.

The following fundamental conditions are essential for establishing a national innovation system in our country: targeted and consistent state policy. It is advisable to take effective steps to gradually integrate Georgian science and education system into a single European space.

The position of Georgia in the rank of GII is welcome, but it should be noted that the country is facing significant challenges that require a complex approach and overcoming of issues.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Nutsa Mchedlishvili ∘ GLOBAL INDEX OF INNOVATION IN GEORGIA AND ITS ANALYSIS Summary Innovation in the social-economic development of the country must be seen as a form of realization of non-standart, creative ideas. There are many challenges facing economic development of Georgia in the modern reality. Georgia is not distinguished by any significant naturalresources, so it is important for the country to be based on a model of innovative economy. Innovation has a particular importance for the development of the business sector. It promotes high competitiveness,which in turn contributes to the development of business and ultimately to the economy. The purpose of the Global Index of Innovation is to highlight the multidimensional aspects of innovation and to identify tools that contribute to sustainable development and job growth. In the 2019 Global Innovation Index survey, Georgia was elevated to 48^th place with 37 points. The following fundamental conditions are essential for establishing a national innovation system in our country: targeted and consistent state policy. It is advisable to take effective steps to gradually integrate Georgian science and education system into a single European space. The position of Georgia in the rank of GII is welcome, but it should be noted that the country is facing significant challenges that require a complex approach and overcoming of issues.