My journey has been centered around creating social impact through innovation in medicine and health. Building meaningful change requires resources, financing, and—most importantly—a strong network.
Being part of Saïd Business School, University of Oxford, home to the Skoll Centre for Social Entrepreneurship, has exposed me to invaluable resources combining innovation strategy with business acumen to tackle social problems.
This year’s Global Innovation Index (2024) report highlights social entrepreneurship, with key insights that deeply resonate:
1)#Incubate social enterprise networks: Social enterprises often struggle with visibility and partnerships, especially when working with advanced technologies like AI or fintech. Governments and networks like Euclid Network and Catalyst 2030 play a vital role in helping social enterprises access strategic partnerships, expertise, and advanced technologies necessary for scaling impact.
2)#Deepen research links between advanced and developing economies :
This is especially important to me, as few get such opportunities. We must continue building networks to share expertise from institutions like the University of Oxford, benefiting LMICs and promoting global innovation.
3)#De-risk Early-stage investment : Social enterprises need significant help in the early stages, and traditional high-risk, high-reward investment models often fall short. De-risking early-stage support through impact-oriented funding and mentorship is critical to helping them scale effectively.
I’m particularly passionate about #impactmeasurement in social entrepreneurship. Traditional metrics often miss the full picture.
As a succinct summary of impact measurement, the report highlights:
Impact measurement varies across pathways—customer, employee, product/service, and ecosystem. It’s essential to go beyond basic metrics and evaluate deeper socio-emotional well-being 🌻 , environmental benefits 🌳 , and systemic change within ecosystems 🏤 🏥 .
Let’s continue to innovate for social good, keeping impact at the forefront!
#SocialEntrepreneurship #Innovation #Impact #Oxford #GlobalInnovationIndex2024
🌍 GII 2024: Global Innovation Leaders Announced
Co-edited by Professor Soumitra Dutta, Dean of Oxford Saïd Business School, the Global Innovation Index 2024 has ranked the top innovators as Switzerland, Sweden, the US, Singapore and the UK, with China, Türkiye, India, Vietnam and the Philippines as the fastest 10-year climbers.
The GII is the world’s benchmark resource, charting global innovation trends to guide policy makers, business leaders and others in unleashing human ingenuity to improve lives and address shared challenges, such as climate change.
This year, the GII has brought together analysis and policy guidance from key actors in the field of social entrepreneurship, including the Skoll Centre for Social Entrepreneurship at the University of Oxford. The report sheds light on the underexplored links between innovation and social entrepreneurship, highlighting social entrepreneurship as a prominent part of the international development and innovation policy dialogue.
The GII report also reveals a softening in leading indicators of future innovative activity, with venture capital funding falling by some 40% in 2023, with growth slipping in research and development spending.
👉 Read more about the report here - https://oxsbs.link/47FYeLS
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Student at Delhi University
8mo💪💪