How can you get regulators excited about social innovation and corporate partnerships?

Social innovation and corporate partnerships are powerful ways to create positive impact and value for society and businesses. However, they often face regulatory challenges and barriers that can hinder their potential and scalability. How can you get regulators excited about these initiatives and foster a supportive environment for them? Here are some tips and strategies to consider.

1 Understand their perspective

Regulators are not your enemies, but they have a different role and responsibility than you. They have to balance the interests and needs of various stakeholders, such as consumers, investors, competitors, and the public. They also have to ensure compliance with laws, standards, and policies that are often complex and evolving. Therefore, you need to understand their perspective and address their concerns and expectations. Show them how your social innovation and corporate partnership aligns with their goals and values, such as enhancing social welfare, promoting fair competition, or protecting the environment.

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Michell Bruno Solari Jimenez

Senior Project Manager, International Monetary Fund, TGestiona, University Teacher,
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Para entusiasmar a los reguladores sobre la innovación social y las asociaciones corporativas, es crucial destacar los beneficios tangibles que estas iniciativas pueden aportar a la sociedad en términos de impacto social positivo, inclusión económica y sostenibilidad ambiental. Se pueden emplear casos de estudio y datos concretos para demostrar el éxito de estas prácticas en otros contextos. Además, se puede fomentar la colaboración entre empresas, organizaciones sin fines de lucro y el gobierno para crear políticas y marcos regulatorios que apoyen y promuevan la innovación social.

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2 Communicate your impact

One of the best ways to get regulators excited about your social innovation and corporate partnership is to demonstrate your impact. Use clear and credible evidence, such as data, case studies, testimonials, or awards, to show how your initiative creates positive outcomes and benefits for your target beneficiaries and society at large. Highlight the social and environmental problems you are solving, the innovative solutions you are offering, and the value you are generating. Also, showcase your competitive advantage and differentiation, and how you are filling a gap or addressing a need that is not met by existing players or solutions.

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Kelly Torres Betancurt

I help you to transform invisible stories into strategic narratives that inspire empathy and action 🍃
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Demonstrating transparency and consistency in the communication you are making is relevant to keeping regulatory bodies enthusiastic. It shows that you are committed to making a meaningful difference to society and the planet. Companies need to understand that communicating your initiatives in this way is not about bragging, it is about influencing and persuading others to join in as agents of change.

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Vinicius Silva

Especialista em marketing | Planejamento estratégico | Branding | Inovação | Eventos | Marketing digital | Programas de relacionamento | Inteligência de dados
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Numa era cada vez mais colaborativa, é importante acessibilizar canais para que os participantes de qualquer etapa do processo façam suas contribuições, depoimentos ou indicações das propostas trabalhadas.

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3 Engage them early and often

Another key strategy to get regulators excited about your social innovation and corporate partnership is to engage them early and often in your process. Don't wait until you have a finished product or service to present to them, but involve them from the ideation, design, testing, and scaling stages. Seek their feedback, input, and advice, and show them that you value their opinions and expertise. Build trust and rapport with them, and establish a collaborative and constructive relationship. By engaging them early and often, you can avoid surprises, misunderstandings, or conflicts later on, and also gain their support and endorsement.

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Gifty Bingley

Leader - Sustainability | Chief Storyteller | International Development
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Get regulators involved early by inviting them to roundtable discussions, workshops, or conferences. This allows them to interact directly with innovation teams and business leaders, understand the practical aspects of initiatives, and provide valuable regulatory input. These collaborative dialogues can shape policies that support social innovation and corporate partnerships, leading to more impactful and sustainable outcomes.

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4 Learn from others

You are not alone in your journey of social innovation and corporate partnership. There are many other organizations and initiatives that have gone through similar experiences and challenges, and have learned valuable lessons and best practices. You can learn from them and use their examples and stories to inspire and persuade regulators. Look for relevant and successful cases that have similar goals, contexts, or models as yours, and show how they have overcome regulatory hurdles and achieved positive impact. You can also leverage their networks, connections, or partnerships to gain access and credibility with regulators.

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Vinicius Silva

Especialista em marketing | Planejamento estratégico | Branding | Inovação | Eventos | Marketing digital | Programas de relacionamento | Inteligência de dados
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E também é importante deixar o legado de ensinar outras instituições, mapeando o passo a passo feito para chegar no estágio atual e pensar que instituições semelhantes, mas menos estruturadas, também precisam amadurecer nos pontos em que você já está mais maduro. Isso é consciência social.

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5 Innovate within the rules

Finally, you can get regulators excited about your social innovation and corporate partnership by innovating within the rules. This means that you respect and comply with the existing regulations and standards that apply to your sector, industry, or market, and that you do not violate or circumvent them. However, this does not mean that you have to limit your creativity or ambition. You can still find ways to innovate within the rules, such as by adapting, modifying, or combining existing solutions, or by creating new solutions that are compatible or complementary with the rules. You can also advocate for changes or improvements in the rules, if you have a strong case and evidence to support it.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Cmdr (Dr.⁹) Reji Kurien Thomas , FRSA, MLE℠

I Empower Sectors as a Global Tech & Business Transformation Leader| Stephen Hawking Award 2024| Harvard Leader | UK House of Lord's Awardee | Fellow Royal Society | CyberSec | CCISO CISM CCNP-S CEH
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Presenting innovations that incorporate advanced technology and data analytics can capture regulators' interest by showcasing the potential for enhanced monitoring, reporting, and compliance. In one instance, we integrated smart sensors and AI-driven analytics in a water management system, illustrating to regulators how technology can offer unprecedented insights into water usage and quality. Highlighting the broader economic and social benefits of innovations, such as job creation, public health improvements, or economic growth, can resonate with regulators. For example, a corporate partnership focused on community-based water projects not only improved local water infrastructure but also stimulated local economies.

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How can you get regulators excited about social innovation and corporate partnerships?

1

2

3

4

5

6

1 Understand their perspective

2 Communicate your impact

3 Engage them early and often

4 Learn from others

5 Innovate within the rules

6 Here’s what else to consider

Corporate Social Responsibility

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How can you get regulators excited about social innovation and corporate partnerships?

1

2

3

4

5

6

1 Understand their perspective

2 Communicate your impact

3 Engage them early and often

4 Learn from others

5 Innovate within the rules

6 Here’s what else to consider

Corporate Social Responsibility

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