This is a pretty meaningless cumulative metric which considers things like "Legal obstacles to foreign labour", "ICT priority for government", "Graduates in science", "Schools connected to the internet", "Telecom revenue", "Nature of competitive advantage" and many other, some of which are pretty hard to measure [1]. I wouldn't count such a metric as a measure of "volume of innovation".
[1] https://www.innovendo.net/pdf/archiv/Global%20innovation%20i...