"Financing Social Impact"
Social Innovation Europe's report on crucial financial conditions for the success of social innovations in Europe
Creating a finance ecosystem where social innovations can flourish. Where do we want to be in 10 years?
The field of social innovation is now beginning to gather momentum, with significant investment from governments, foundations and business. Over the next few years, it is possible that the ability to support, manage and grow innovations of this kind will become a core competence within governments, businesses, NGOs and foundations.
The field combines commitment, experience and energy. But it lacks the systematic and sophisticated infrastructures of support available to other fields - in particular, access to appropriate finance and funding. The result is that although there is no shortage of good ideas, far too few actually achieve the impact they could. The report sets out a vision of where we want to be ten years from now. It highlights how these various infrastructural gaps will need to be filled for the field to develop to maturity, and puts forward recommendations for how we can achieve this.
Overview
Sections 1, 2 and 3 describe what is meant by social innovation, as well as the actors involved in this emerging field. This part explains why the field of social innovation has reached a critical point, with numerous opportunities and drivers converging to make the time ripe for the development of the field.
However, such development is currently being hampered by a lack of financial and institutional support. Sections 4 and 5 provide an account of what is already happening in this area and sets out a vision for a mature ecology of finance in this field.
Sections 6, 7, 8 and 9 set out specific recommendations for funding and financing that will accelerate the field's progress. We explore how the European Union can unlock financial supports, as well as recommendations for mobilising private investment, and the role that can be played by European foundations.
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