Social innovation
The document discusses how innovation drove growth during the Industrial Revolution. It notes that during this period, productivity growth overtook population growth for the first time. This was made possible by sustained innovation, which was driven by both a strong scientific method and the financial profit motive of entrepreneurs. The document argues that applying a similar approach to social issues could unleash waves of social innovation. It proposes that social entrepreneurs could release bottlenecks in social systems to create "social profit" in the same way businesses create financial profit through innovation. If social innovation was sufficiently rewarded and sustained over time, it could potentially drive social value growth above population growth levels.
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Social innovation
- 1. Social Innovation What is it? Social Asset Measurements
- 2. When has innovation driven growth in the past? Productivity and Population Growth in the Industrial Revolution population, production Answer: The Industrial Production Revolution Population For the first time, productivity growth overtook population growth Productivity was driven by sustained innovation time
- 3. During the Industrial Revolution, a few key things drove sustained innovation (1) A method: Strong grounding in scientific method Hypothesis Conclusions Procedure Data Lessons from “failures” were incorporated into the final product.
- 4. During the Industrial Revolution, a few key things drove sustained innovation (2) An incentive: The financial profit motive Early entry into new markets allowed entrepreneurs to capture economic rents
- 5. Because of both incentive and method, there was sustained innovation in the Industrial Revolution Example: 500 250 500 intermediate final inputs products products
- 6. Because of both incentive and method, there was sustained innovation in the Industrial Revolution Bottleneck in Production 500 250 500 intermediate final inputs products products
- 7. Because of both incentive and method, there was sustained innovation in the Industrial Revolution Space for innovation Bottleneck in Production 500 250 500 intermediate final inputs products products
- 8. What would happen if we applied this to social innovation? Social Issues as bottlenecks Example: 886 million people do not have access to clean water Rural communities are 5x more likely to not have potable water resources Bottleneck: Roughly 1/6 of the world’s population does not have access to clean water
- 9. Space for social innovation No water access Rural Communities (1000 People) Water Healthy People Infrastructure (2000 People) Urban Communities (2000 People)
- 10. Space for social innovation Bottleneck Rural Communities (1000 People) Water Healthy People Infrastructure (2000 People) Urban Communities (2000 People)
- 11. Space for social innovation n io at ov nn ri fo e ac Sp Bottleneck Rural Communities (1000 People) Water Healthy People Infrastructure (2000 People) Urban Communities (2000 People)
- 12. Social innovation releases bottlenecks: More People Less or Same Resources Higher social profit
- 13. So... Entrepreneurs release bottlenecks to create financial profit Economies recognize and reward innovation as creating financial profit
- 14. So... Entrepreneurs release bottlenecks to create financial profit Economies recognize and reward innovation as creating financial profit Social entrepreneurs release bottlenecks to create social profit Social economies recognize and reward social innovation as creating social profit
- 15. Last thoughts... With a method and a motive, we can have a sustained period of social innovation. What would the world look like if social value growth exceeded population growth?