What is "Social Innovation" anyway?
Social Innovation is a recognition that the complex challenges of today's society demand new kinds of solutions, and that the most fertile ground for developing these kinds of solutions is often found at the margins of our efforts and organizations: in non-traditional or collective approaches, emerging technologies, and cross-disciplinary partnerships.
The Forbes Funds takes a practical approach to Social Innovation, acting as a platform and catalyst to encourage the development of new tools, new models, and new funding that positively impact large numbers of organizations and by extension the communities they serve.
New Tools >
- Commercialization and/or adoption of technology that can improve effectiveness of nonprofit organizations and positively impact a community challenge.
New Models >
- Collaborative or human-centered approach models where multiple organizations can advance a shared desired outcome.
- Social Entrepreneurs who approach a social or environmental challenge through a market-based approach.
New Funding >
- Impact Investing which harnesses the power of investment capital to make a measurable positive impact on the issues our partners work to solve.
Why is this important?
Solving the greatest challenges faced by our communities and our world will take this kind of bold new collaboration and continuous innovation. The Forbes Funds and network of foundations that support our work believe this kind of innovation is a key pathway to more effective, efficient, equitable, and sustainable solutions for the communities we serve.
Disruptive technological innovation, economic transition, and the growing complexity of societal challenges continue to push all sectors to reposition their role and rethink their approach.
Helping nonprofits - both individually and collectively - navigate this transformation is our mission.