Social innovation: Mobilizing private capital for impact
We are at an important inflection point in the evolution of the private sector’s role in stimulating social innovation. While the field of social innovation has shown tremendous growth over the past decade, many actors within the spectrum of capital are still sitting on the sidelines – interested in impact, but not yet allocating enough resources or investments.
Much of the discussion over the past decade has focused on understanding and measuring impact, and rightfully so. But a key challenge that has not received its fair due in the conversation, in our view, is the concept of impact management.
We believe now is the time for impact management to take center stage. Asset owners such as investors, banks, entrepreneurs, corporates, or family offices articulate and realize their impact objectives through impact management. They identify what problems they want to solve, who they want to reach, where they want to invest, and what risks they want to take. Impact management requires asset owners to consider how they want to prototype, onboard, and create a pipeline of social innovation.
At IMD’s elea Center for Social Innovation, in line with IMD’s overall vision, we challenge what is and inspire what could be through social innovation.
Our activities are based on identifying and exploring the opportunities available to social innovators throughout the spectrum of capital, from profit-seeking impact enterprises to new uses of philanthropic capital. Ultimately, we aim to help align different actors around purpose and impact.
In this white paper, we share our view on why there is a need for social innovations to urgently mobilize private capital for impact, offer our perspective on how social innovation is distinctive, outline the range of opportunities available to private actors, and introduce a framework that we believe can help corporations, social innovators, and financial capital providers diagnose their capabilities to contribute to and navigate this new landscape.
Research Information & Knowledge Hub for additional information on IMD publications
We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction ...
In addition to traditional venture capital (VC), governmental VC and social impact VC investors have emerged as alternatives to fund entrepreneurial ventures, especially start-ups that incorporate social and/or environmental objectives into commer...
Cross-sector partnerships formed to address societal challenges are widely advocated and increasingly common. Joint goal setting is an essential phase in the collaborative process that can determine the course of a partnership. Yet, little is know...
Management scholars are increasingly expressing a desire to conduct research that aims to solve social and environmental issues. Expectations from universities and funding bodies for research with societal impact are also growing. Yet, there are m...
in I by IMD
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Journal of Management Studies 7 October 2024, ePub before print, https://doi.org/10.1111/joms.13150
Research Information & Knowledge Hub for additional information on IMD publications
in Finance Research Letters October 2024, vol. 68, 105987, https://doi.org/10.1016/j.frl.2024.105987
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD
Research Information & Knowledge Hub for additional information on IMD publications
in Journal of Management 30 September 2024, ePub before print, https://doi.org/10.1177/01492063241278803
Research Information & Knowledge Hub for additional information on IMD publications
in Strategic Organization 29 September 2024, ePub before print, https://doi.org/10.1177/14761270241278812
Research Information & Knowledge Hub for additional information on IMD publications