InnovationeXchange

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InnovationeXchange

  1. 1. John Craig, Director
  2. 2. The history of public support for social innovation is poor <ul><li>‘ Invest to Save Budget’ spent £600m between 1997 and 2007: </li></ul><ul><ul><li>Partial </li></ul></ul><ul><ul><li>Passive </li></ul></ul><ul><ul><li>Political </li></ul></ul>
  3. 3. Support for innovation has been particularly poor in the third sector 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
  4. 4. The challenge is connecting ideas with resources to support them <ul><li>These people lack each others’ phone numbers and the capacity and incentive to work together. The Innovation Exchange is bringing them together around key social challenges. </li></ul>Public service commissioners Social investors Third sector innovators
  5. 5. Innovation Exchange is connecting people around compelling priorities <ul><li>Independent living </li></ul><ul><li>Excluded young people </li></ul><ul><li>Areas of political priority and market opportunity </li></ul><ul><li>Where there is third sector capacity and a need for innovation </li></ul><ul><li>But where opportunities may be missed without an independent broker to bring people together </li></ul>
  6. 6. It will create strong innovation projects and clear priorities Commissioners’/investors’ demands for innovation Supplies of innovation from the third sector <ul><li>Sustainable innovation projects </li></ul><ul><li>Clear innovation priorities </li></ul>
  7. 7. The Exchange is bringing its work together at two Festivals of Ideas Call for ideas from the third sector Festival of Ideas brings together innovators, commissioners and investors around ideas Innovators develop their plans online with the contacts they have made The best innovations receive a share of the £200k Innovation Exchange Fund Possible additional support from commissioners and social investors <ul><li>The Festival of Ideas will: </li></ul><ul><li>Strengthen and focus the work of third sector innovators </li></ul><ul><li>Generate powerful connections between innovators, commissioners and </li></ul><ul><li>social investors </li></ul>
  8. 8. It also needs to tackle the issues of IP and risk-sharing <ul><li>“ Don’t give your idea away. Don’t keep it to yourself. Help it to take off with the Innovation Exchange.” </li></ul>
  9. 9. And the Exchange must have a systemic as well as practical impact <ul><li>The ultimate goal must be to make innovation a sustainable business for the third sector. </li></ul><ul><li>In the public sector, the challenge has been to cut the fly-by-wires to allow innovation. In the third sector, we need to create the safety nets that enable innovation. </li></ul>
  10. 10. Questions <ul><li>Does that make sense? </li></ul><ul><li>What do you think? </li></ul><ul><li>In particular: </li></ul><ul><li>How might we best use the web to map innovation hot spots and help people collaborate? </li></ul><ul><li>What connections are there between this work, your own and other conversations taking place today? </li></ul>

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