Social Innovation: a tool to improve lives

In the face of scarce resources and increasing demands, innovation is a determining factor for development. Fortunately, more and more organizations are thinking about innovation and sustainable growth, using social innovation as a response to social, environmental and economic problems.

What we are talking about are not simple creative ideas or isolated activities, but the joint and directed effort of a team working together. Innovation, thus understood, adds value and is the main factor of productivity and economic growth in order to achieve a more inclusive development in Latin America and the Caribbean. It can be measured from different variables such as social impact, climate change mitigation, economic sustainability, intersectoral collaboration, scalability and the opportunity to be replicable.

In recent years, the concept of social innovation has gained momentum in the world of development and can no longer be considered sole responsibility of social organizations and their communities[1]. We can see that innovations generated in a collaborative way can leverage social change and become sustainable over time. The articulation between different stakeholders is the key to generating innovations for development. Initiatives that, in the hands of governments, private sector, and civil society in general, are the true generators of social, environmental and economic impact.

“Today we can see innovations driven by governments through public policies that promote equality and social inclusion, and at the same time stimulate economic growth. Likewise, the process can engage universities and research centers that generate new knowledge and technologies, as well as markets, companies and new ventures that mobilize their resources to generate and scale innovations”. [2]

On November 8-9, the IDB meets with civil society to talk about innovation. Experts from Silicon Valley will be presenting the latest advances in technology innovation and its impacts on our future, among other topics. Free registration. Participate and register here:

Create and update the institutional profile of your organization on WiConnect3, the IDB Group geo-referenced platform for sustainable development in Latin America and the Caribbean. You will also receive news of the latest advances in innovation, calls for scholarships and opportunities, forums, training webinars, among other topics of interest.





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