Archive for the ‘Tim Draimin’ Category

INNOVATING INNOVATION: Connecting technological, business and social innovation

Tim Blog Author

 

We have reached a watershed moment.

After a century of robust development of technological and business innovation, plus several decades of cracking the code of social innovation, the time has come to create an integrated innovation system.

Innovation has long been recognized as necessary for a nation’s economic and business success. But citizens have relied on a trickle down approach for the benefits from technological and business innovation to trigger broad societal well-being. Unfortunately today’s social, ecological and economic problems – ranging from preventable chronic disease to social exclusion to youth unemployment to climate change – are escalating in scale, severity and urgency. They won’t wait for laissez-faire innovation.

Society’s needs and innovation’s benefits can be more directly connected and aligned. The opportunity of the 21st century is to harness the combined power of social innovation and mainstream (technological and business) innovation.

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Mainstream innovation is an advanced ecosystem of technological, business, financial and human resources wired to produce efficiencies, profit and, increasingly, disruption. Social innovation works primarily at the margins to take on the most pressing social and ecological challenges of the 21st century. Social innovation responds to gaping tears in our social fabric made more visible as aging systems fall behind or fail to use new tools like behavioural economics, human-centred design, collective intelligence, and both open and big data.

The urgent call is to steward a new collaborative mindset and approach. One that integrates today’s tools and technologies with new knowledge emerging from across all sectors on innovation, social behavior, social capital, collaboration and networks.  We need an innovation system driven by a new integrated innovation paradigm and a solutions-oriented economy.

 

THE STATUS QUO ISN’T WORKING

The OECD reports that “[i]n 2014, OECD countries devoted more than one-fifth of their economic resources to public social support”.  It is estimated that 17% of Canada’s GDP, or $338 billion, is spent on social outcomes. In the US, that figure is closer to 19.2% of GDP or $3.4 trillion USD and in Spain, it is higher still, at 26.2% of GDP.

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