Breaking out of the current economic dilemma needs radical innovation

I gaze through unbelieving eyes at the continued rise of unemployed in Europe. Unemployment in the Eurozone has reached another record high with the seasonally-adjusted rate for April  2013 going to 12.2%, up from 12.1% the month before according to the European Commission’s statistics office, Eurostat:Eurozone Unemployment May 2013 EurostatAn extra 95,000 people were out of work in the 17 countries that use the Euro, taking the total to 19.38 million. Both Greece and Spain have jobless rates above 25%. The lowest unemployment rate is in Austria at 4.9%.

It seems never-ending.

Youth unemployment remains a particular concern; you simply have to wonder what we are storing up in the longer term with this situation. Can the youth ever catch up, can our society as it is positioned give them the opportunities to turn today’s grim world into a world of optimism and contentment, or is it a lost generation?  In April, 3.6 million people under the age of 25 were out of work in the Eurozone, which translated to an unemployment rate of 24.4%.

Why does this issue of growing unemployment seem to be drowned out by events that seem important on the day but realistically pale in their significance against something as damaging as this present crisis?

Examples of persistent economic and social challenges

We are facing significant society challenges. These include declining Economic competitiveness, deepening Social inequalities, rising Mental ill-health, increasing Crime and social disorder and we see growing Alcohol and drug abuse, to name some of the issues being increasingly tackled as part of the consequences of these tough economic and social times.

We must increasingly recognise that the cost of deferring concerted action to confront these growing set of social challenges is beginning to rise – and could easily outpace our ability to respond.

Can we afford to wait? There are so many pressing questions. Continue reading

Declarations and Social Innovation

I always get nervous when declarations are made. Over two days in the middle of September, 2011 in Vienna a “Vienna Declaration” was made determining “the most needed social innovations and related research topics”

Maybe it is the way it has been written as a declaration but I’m left uncomfortable. When you read within the declaration document:

the ‘deliberations’ took place on what could be done to strengthen the social sciences capacity to play a prolific role in conceptualising and research of social innovation, and thus favour desirable development of the globalised knowledge society. This led to the idea of a Vienna Declaration that should identify critical areas of social and scientific development, and state a number of equally important corresponding research topics

The rationale behind the declaration states the Vienna Declaration is the first and immediate Core Deliverable of the Conference, created and established during the conference by joint efforts of all participants.

This makes me even more nervous, those that went decided to make a ‘universal’ declaration but OK, I can’t fully comment as it is difficult to see the whole context for this meeting. it remains unclear if it has a pivotal role or not within SIE in Europe, on behalf of the EU, on behalf of society within the EU? I’m left really not sure. Continue reading

Impact investing for social good through new innovation- a growing momentum?

A growing group of investors around the world are increasingly seeking to make investments that generate social and environmental value as well as financial return. Sound impossible?

Well, no actually. There is a growing recognition of the need for effective solutions to social and environmental challenges that have increasingly real threat and growing inequalities.

Impact investing or more often housed under the broader heading of “Impact Economy” is about finding the ways to combine investors, philanthropists, entrepreneurs and business executives along with governments in finding new and different ways to explore the changing economic and social landscape. Through this emerging newer type of investing there is potentially that the promise of new jobs and profits, mixed in with improved social impact, can be derived from new innovation activities. It needs this convergence and seems to be gathering in pace and broader recognition.

Continue reading

Shortage and Plenty- the growing shift towards Social Innovation

On 16 and 17 March 2011, Social Innovation Europe will be launched in Brussels. Funded by the European Commission, Social Innovation Europe will create a dynamic, entrepreneurial and innovative new Europe with the intent for Europe to embrace the broader concepts within innovation and set an example globally for this social movement.

The aim is by 2014, Social Innovation Europe will have become the meeting place – virtual and real – for social innovators, entrepreneurs, non-profit organisations, policy makers and anyone else who is inspired by social innovation in Europe. This can provide the opportunity for social innovation – for so long on the margins – to take its place alongside business innovation at the centre of the economic stage.

Social Innovation Europe

The intent will cover the following:

Continue reading

Social innovation comes of age in Europe

Social innovation is about new ideas that work to address pressing unmet society needs”

The shifts taking place in Europe

The competitiveness and challenges that Europe faces in the next ten years are significant. Innovation has been placed at the heart of Europe’s 2020 strategy. It is this clear recognition that innovation is the best means of tackling issues that will affect our future living standards is not new in itself, but it is this real political recognition of its place and importance, now that is.

Innovation is also our best means of successfully tackling major societal challenges, such as climate change, energy and resource scarcity, health and aging and becoming more urgent each day to address in more systematic ways.

European funding of innovation in recent years has perhaps placed far too much emphasis on research and development to deliver the growth and jobs it requires.

Continue reading

Social will dominate innovation thinking in 2011 and beyond.

Putting the word social into our innovation thinking is going to be a really important thing to do in the coming year, if you haven’t already. It will dominate our actions increasingly.

The challenges of ‘social’ is everywhere; within organizations, in all sorts of collective movements, in politics, across government, society, markets, academic institutions and effecting our personal lives in a host of ways.

Society has to face up to some really tough challenges and only innovation can solve these with human beings inventiveness and ingenuity. Regretfully we have still an accelerating ‘creative destruction’ and we are often more Schumpeterian than ever.

Something has got to give and it will be within the broad social domain where it will all come together, many social things are converging or feeding off each other. Let’s take a brief look at all this social orientation going on.

Continue reading