S

ocial

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nnovation

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ndowment

An Overview Month Day, 2014 Presentation Version 2014-04-25

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Presentation Overview

Social Innovation Context Endowment Questions Discussion

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What is Social Innovation?

http://socialpolicyframework.alberta.ca/SIE 3

What is Social Innovation?

NEW Ideas Strategies Approaches Processes Mechanisms Products Models

that

Meet social needs or goals more efficiently than alternatives Create new social relationships or collaborations Work for the public good (social value) Improve society’s capacity to solve its problems

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What is Social Innovation?

• Batteries • Math • Cell Phones • Penicillin

Social Innovation

• Libraries • 911 • Fair Trade • Co-ops

Scientific & Technological Innovation Economic Innovation

• Assembly Lines • Tax Credits • Free Trade • Bitcoin 5

Social Innovation in Alberta

Calgary Awesome Foundation

Provides a $1000 grant to kick start action on a different “awesome idea” every month

Startup Edmonton

Brings together developers, designers, entrepreneurs, & investors to collaborate on creative solutions to problems

Sangudo Opportunity Development Cooperative

A community-led investment vehicle for local businesses, established to ensure the community retains businesses it needs to thrive

Leading Boldly Network for Social Change

Led by the United Way of Calgary, a multi-sector network to catalyze and sustain collaborative social innovation 6

Context

Intractable Problems Rising Costs Changing Conditions

• • • Growing complexity Need to address root causes Need to scale successes and create greater positive impact • • • Service delivery Indirect costs of focusing on reaction vs. prevention Need for early intervention • • • Blurring boundaries (nonprofit/profit, private/ public) Technological advancements Citizen expectations 7

Policy Environment

Alberta’s Social Policy Framework cites innovation and transformation as key GOA strategic directions Work to create an Innovation Framework for Alberta is about aligning & accelerating impactful innovations across Alberta Alberta’s Cultural Policy – more effective and strategic use of cultural resources & collaboration for a strong & vibrant cultural life 8

Innovation in Alberta

Creative & Cultural Orgs Alberta Innovates Corps Govern ment Community Groups

Alberta’s Innovation Ecosystem

Research & Educational Institutions Foundations Social Enterprises Private Industry 9

Innovation in Alberta

How can we leverage ALL types of innovation?

Creative & Cultural Orgs Alberta Innovates Corps Govern ment

Where can we make new linkages?

Community Groups

Alberta’s Innovation Ecosystem

Research & Educational Institutions

How can we support new entrants?

Foundations Social Enterprises Private Industry

How do these players interact?

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Alberta Budget 2014

Established with $500 million in 2014-15 $500 million to be added in 2015-16 Investment Income: • Y1= $22.5 million • Y2 = $45 million First funding cycle: fiscal 2015-16

Alberta Heritage Savings Trust Fund $17.3 billion Social Innovation Endowment Account

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Activity Streams

Research & Knowledge

Creation & Mobilization

Social Enterprise & Finance

Models & Partnerships

Prototyping

Design & Implemen tation 12

Potential Options

Research & Knowledge

• Research grants • Chairs • Inter disciplinary spaces • Professional Networks or Communities of Practice

Social Enterprise & Finance

• Supports for Social Enterprises • Microloans • Social Impact Bonds • Community Interest Companies • Enabling legislation • Investor Networks

Prototyping

• Labs • Innovative Interventions (e.g., Family by Family, AUS) • Creative hubs (e.g., ACAD Institute for the Creative Process, CSpace) 13

Proposed Outcomes

Alberta's innovation culture is vibrant, open, & multi-disciplinary Creativity, iteration, & cross-pollination of ideas is the norm Impactful interventions transform entrenched social challenges Systems & models encourage & support the creation of shared value Alberta has resilient, vibrant cultural & social benefit sectors supported by a thriving social finance market Alberta attracts, develops, & retains social innovators, social entrepreneurs, & the creative class Social entrepreneurs are supported to develop & scale ideas Frameworks & models encourage & support measured risk taking 14

Conditions for Success…

Arm’s Length

• Government is more of a partner, convener, and influencer

Collaborative Multi-sectoral Rewarding

• Engages, convenes, provides venues for sharing and collaborative work • Provides guidance as an influencer and convener • Cross-sectoral and multi-disciplinary • Encourages collaboration • Brings together diverse groups • Structured to both incent action and reward success 15

…Conditions for Success

Intentional

• Designed to catalyze action, rather than just providing another funding stream

Substantial

• Significant start-up capital • Able to undertake projects that generate tangible and lasting impacts • Able to spur additional activities by others

Sustainable

• Self-sustaining • Able to leverage its wealth to generate additional ongoing revenues 16

Structure: Proposed Design Principles

impactful creative learning interdisciplinary collaborative

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Next Steps

April – May 2014 June 2014 – March 2015 DISCUSS

Phase: • Stakeholder discussions

CREATE

Phase: • Government Review • Create entity • Staffing

2015-16 Fiscal Year IMPLEMENT

Phase: • First Funding Cycle 18

Questions

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Comments

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Group Discussion

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Fit & Complementarity

Innovation in Alberta Social Innovation Scientific & Technological Innovation Economic Innovation

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Feedback Capture Grid Key

LIKES CHANGES QUESTIONS IDEAS

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Proposed Design Principles

impactful creative learning interdisciplinary collaborative

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Questions

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Comments

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Thank you

socialpolicyframework.alberta.ca/SIE [email protected] #absie 25