Global innovation funding growth has plummeted to its lowest rate since 2010 due to high inflation impacting research and development spending and a decline in venture capital deals, according to UN projections.

• Growth in R&D spending slowed to 2.9 percent last year, down from 4.4 percent the previous year, with further deceleration to 2.3 percent projected for this year.
• The World Intellectual Property Organisation (WIPO), a UN agency, released its annual ranking, with Switzerland topping the list for the 15th consecutive year.
• WIPO chief Daren Tang stated, "The fuel powering the engine of innovation, which is capital, which is financing, is not as abundant as before."