In this economy? YES! More money for social innovation

05/31/2010

In a move that will greatly strengthen its chances of success, the White House has convinced private funds to match its own $50m investment in the Social Innovation Fund. This is exciting for a few reasons. First, more money for great projects in social innovation is always a good thing: there is no shortage of amazing candidates and projects.

Second, it’s a sign that the Public-Private Partnerships (PPP) funding model is advancing. That’s good news for potentially large-scale, transformative projects requiring both substantial initial investment and wider-ranging, longer-term support in areas of social policy. Third, the PPP model simply makes sense in an age of increasing hybridity, cross-industry cooperation, and crowdsourcing. Successful PPPs challenge the (largely American, since PPPs are ubiquitous in Western European social democracies) capitalist notion that government and private interests can or should not align.

Nathaniel over at Change.org reports.

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