The economic underpinnings of social innovation

The aim of the SIMPACT project is to understand the economic underpinnings of social innovations that target vulnerable and marginalised people. Particularly after the global economic downturn, coupled with decreasing social spending as a result of austerity measures and failing delivery of public services, social innovation has, to a certain extent, been seen as one way to fill the gaps and address societal challenges ranging from unemployment and migration to aging and low female labour force participation. Research in the SIMPACT project provides both empirical and theoretical insights into the onset, development, evolution and diffusion of social innovation. In October, researchers involved with the project came together with the Members of the Advisory Committee at CEPS to discuss the state of the findings from various SIMPACT research streams. The partners are currently in the process of preparing a final brochure highlighting the research findings and policy recommendations. Members of the Advisory Committee gave their detailed feedback on the brochure, which targets policy-makers, social innovators and intermediaries. It will be distributed to the participants of the final SIMPACT conference on November 22-23 in Brussels. The project will come to a close at the end of the year.