What are we learning about Innovation Exchangev2

What are we learning about Innovation Exchangev2 - Presentation Transcript

What are we learning about… Innovation Exchange

What’s the problem?

In the public sector, people don’t feel allowed to innovate. In the third sector, they don’t feel supported to innovate.

A ‘thousand flowers’ are free to bloom and decision-making is radically distributed. However, that creates barriers to sustaining and scaling innovation.

It’s hard to scale and sustain third sector innovation

Too few third sector innovations change the world Size Age

That failure to change the world is largely a systemic failure Someone in the third sector has an idea They write a letter to the Minister The Minister gives the letter to a civil servant The civil servant writes a letter of congratulation

There’s no market for third sector innovation Demand Supply

As a result, innovators are disconnected from potential collaborators and supporters Commissioners and investors Innovators in the third sector

What’s the solution?

We need to connect innovators and potential supporters Public service commissioners Social investors Third sector innovators

The Exchange first works to identify opportunities for innovation Great third sector innovations Commissioners’ and investors’ needs Advice and support with individual budgets Support to overcome social isolation

It then helps people to connect around those opportunities, build alliances and develop their work

It seeks to add value by focusing on incentives to develop and grow

Focus on new ideas:

Immersion

Stimulus

Horizon-scanning

Upstream incentives Downstream incentives

Focus on scaling up:

Brokerage

Development

Growth

Innovation Exchange

What are we learning?

We added a fourth diamond to take account of the market context

We are doing more sourcing of innovation than stimulating Identifying Source & sense-check Incubating Accelerating Research Engage stakeholders Seek innovators Scan the horizon Identify demand and supply Market test Broker connections Enable feedback

We are trying some new approaches