Core Insights - The latest Global Innovation Index (GII) report reveals that the Shenzhen-Hong Kong-Guangzhou cluster has surpassed the Tokyo-Yokohama cluster to become the top innovation cluster globally [1][4] - The San Jose-San Francisco cluster has risen three places to rank third, while Beijing, Seoul, and Shanghai-Suzhou follow in the rankings [4] Rankings and Performance - The Shenzhen-Hong Kong-Guangzhou cluster leads with a global share of 2.4% in scientific publications, 9.0% in PCT applications, and 2.9% in venture capital transactions [2][6] - The Tokyo-Yokohama cluster holds a global share of 1.4% in publications, 10.3% in PCT applications, and 2.2% in venture capital [2][4] - The San Jose-San Francisco cluster has a global share of 0.7% in publications, 3.9% in PCT applications, and 6.9% in venture capital [2][6] - London has improved its overall ranking from 21st to 8th, primarily due to its strong performance in venture capital transactions [4] Global Distribution - The top 100 innovation clusters are distributed across 33 economies, with China having the most clusters (24), followed by the United States (22), Germany (7), India (4), and Canada, Japan, and South Korea (3 each) [4][5] Venture Capital Activity - From 2019 to 2023, the top 100 clusters attracted nearly 169,000 venture capital transactions, with San Jose-San Francisco (6.9%), New York City (4.5%), and London (4.4%) leading the way [5][7] - The inclusion of venture capital transactions in the GII methodology has recalibrated the understanding of innovation strength, highlighting the role of clusters in converting scientific research into economic outcomes [7]

Core Insights - The World Intellectual Property Organization (WIPO) released a report on September 1, highlighting the inclusion of venture capital transaction activity as a new indicator in the Global Innovation Index (GII) cluster research [2] - The Shenzhen-Hong Kong-Guangzhou cluster surpassed the Tokyo-Yokohama cluster to rank first, while the San Jose-San Francisco cluster rose three places to become third [2] - The GII cluster ranking, established in 2017, identifies the concentration of world-class innovation activities based on three core indicators: international patent applications submitted through the Patent Cooperation Treaty, the number of scientific papers published, and the newly added venture capital transaction volume [2] - The report indicates that venture capital investment activities help capture how technological knowledge is transformed into startups and ultimately into new products and services in the market [2] - A total of 100 top innovation clusters are distributed across 33 economies, with China having the most clusters (24), followed by the United States (22) and Germany (7) [2]