New global ‘Financing Social Innovation’ report has 8 lessons for Canada

“Financing Social Innovation”, a recently released report on improving Germany’s social innovation financing, offers useful tips for policymakers in Canada, too.

Why It Matters

Access to finance is a major difficulty for social innovation leaders, but some countries around the world are overcoming these difficulties through national policy. Canada could stand to learn a few lessons.

Germany is struggling to build a social innovation ecosystem that allows innovators and entrepreneurs to flourish – and a new report by the country’s Social Entrepreneurship Network, the University of Heidelberg, and the Centre for Social Investment offers a few tips for any country, including Canada, to consider.

In a report spanning 10 countries and 23 experts on social innovation, “Financing Social Innovation” puts the spotlight on countries around the world, from Finland to Canada, to learn how their social innovation institutions support the sector. Allyson Hewitt, vice-president of impact at MaRS, says Germany’s government – like Canada’s – is struggling to understand why social innovation policies beyond their borders is important. Hewitt explains Germany’s position as: “It doesn’t really matter what happens in other countries. We’re different.

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