On October 11, the Skoll Center at Saïd Business School, University of Oxford hosted the official launch of the 2024 Global Innovation Index (GII) in the UK, exploring the transformative role of social entrepreneurship for innovation. This year’s edition of the index focused on how innovation goes beyond the conventional, capturing the profound impact of social entrepreneurship and its ability to catalyze transformative innovation and societal impact.
Opening the session, GII founder and editor Soumitra Dutta reflected on the Index’s journey, saying, “When I created the GII, my goal was to capture the full spectrum of innovation, especially those efforts beyond traditional measures. Since WIPO adopted the GII in 2010, our definition of innovation has broadened, now encompassing areas like social entrepreneurship and impact — key themes in this year’s report.” His remarks set the stage for a day of inspiring dialogue on how social enterprises are reshaping the future of innovation.
A Global Vision for Social Impact
The event included a powerful video address from Marco Alemán, Assistant Director General of WIPO. Emphasizing the role of social entrepreneurship, he stated, “Social entrepreneurship is a significant source of innovation, from combating misinformation to improving environmental protection. We need to support social entrepreneurship with frameworks that can drive impact. At WIPO, we are committed to helping social entrepreneurs leverage IP to their advantage. Together, we can unlock a new path to innovation.” Alemán’s call to action underscored the need for a global effort to support social entrepreneurs.
Insights from Leaders in Social Innovation
Following the opening addresses, a dynamic panel discussion brought together Professor Marya Besharov, co-author of the GII report, with social impact leaders Cynthia Rayner, Andrew Bastawrous, and Jeroo Billimoria. Each shared unique perspectives and experiences on social innovation and the evolving ecosystem.
Cynthia Rayner, known for her work in social impact research, highlighted a critical shift in social entrepreneurship. “There’s an innovative mindset emerging where we bring the most proximate actors into decision-making roles to get closer to our clientele,” Rayner noted. She observed that while social enterprise once focused primarily on products, services, and clients, the focus is now on “how we enroll constituencies and make them leaders of the work we’re doing.”
Andrew Bastawrous, Co-Founder and CEO of Peek Vision, provided another layer to the conversation, noting that many social entrepreneurs see themselves as problem solvers rather than traditional entrepreneurs. He urged for a shift in the ecosystem’s approach to social enterprise, saying, “We need to move away from the idea that entrepreneurship and innovation can not be social. Every investment and initiative should aim to solve social problems.” His insights reinforced the need for broader support systems to empower social innovators.
Jeroo Billimoria, a founder of organizations like Catalyst 2030 and the One Family Foundation, shared her extensive experience with system change models. She emphasized the importance of collaboration across multiple levels of society, from individuals to governments. “Systems change has three levels: individual change, a behavioral transition for the sector, and governmental policy shifts,” she explained. Billimoria’s organizations have successfully driven policy changes by involving governments in child protection programs, ultimately leading them to “take over the whole project and fund it.” Her experiences demonstrated how effective social innovation depends on mobilizing communities and achieving government buy-in for sustainable change.
Building a Future of Inclusive Innovation
The GII 2024 launch at Saïd Business School was a testament to the critical role of social enterprises in driving innovative solutions for complex societal challenges. The event shed light on the expanding definition of innovation, one that goes beyond technology and business to include impactful social change. As the conversation around social entrepreneurship continues to grow, so too does the opportunity to develop robust support systems, driving forward a world where innovation serves both economic and social purposes.
With the insights shared at this year’s GII launch, there is a renewed call to action for governments, investors, and communities to support social enterprises. As Marco Alemán highlighted, “We can unlock new ways to innovate together,” ensuring a future where social entrepreneurship thrives and creates lasting global impact.
