Innovation at a crossroads after pandemic: UN

Innovation at a crossroads after pandemic: UN

2 months ago

GENEVA: Funding for innovation swelled during the Covid-19 pandemic, with significant growth in developing countries, the UN said Thursday, warning though that the current geopolitical turmoil was threatening the advances.

In a fresh report, the UN's World Intellectual Property Organization (WIPO) found that research and development spending and other investments that drive innovative activities continued to boom last year despite the still-raging pandemic.

"This is contrary to what we expected," WIPO chief Daren Tang told reporters, pointing out that during previous downturns, innovation spending plummeted.

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