Root Cause CEO Andrew Wolk discusses Social Impact Markets in Stanford Social Innovation Review
Social Impact Markets: Why a market for social innovation is needed now more than ever
In today's tough economic times, making the most of our limited public and private resources is more relevant than ever. In this article, Andrew discusses how to create and invest in a social impact market—a mechanism that provides the infrastructure, information, and incentives to enable individuals or institutions to provide financial, volunteer, or in-kind resources with the expectations of those resources resulting in social impact.
Through Root Cause's Social Innovation Forum, we are learning to test a social impact market where nonprofits, philanthropy, government, and business are committed to allocating resources to nonprofits based on their performance. In this market, transparent exchanges of nonfinancial resources, sound data, and community and government involvement make it possible for proven innovations to grow and spread.
As we test and learn more, we encourage you to read through the article and share your success stories of creating social impact markets with us so we can share with others. Email Tania Green at email@example.com
MORE ON SOCIAL IMPACT MARKETS
- Stanford Social Innovation Review Podcast
In this audio lecture sponsored by the Stanford Social Innovation Review, Andrew Wolk argues that the time has come for a social impact market - one that fosters innovation and collaboration across the governmental, business, and nonprofit sectors to maximize scarce resources and spread solutions. Read More...
- Doing More With Less: Case Studies on the Impact of National Service
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- A Social Issue-Based Approach to Finding and Funding Social Innovation
Andrew Wolk discusses the need for resources to be allocated to approaches that demonstrate the best performance. Read More...