Governments are constantly searching for enablers to help them to keep up with changing times, move beyond the constraints of traditional approaches, and leverage innovation to improve public policies and services. Public innovation labs belong to this stream of change. They aim to boost the ability of governments to navigate emergent threats and opportunities and provide sustained, inclusive and proactive responses to people’s needs and expectations. The last 20 years have seen a surge on...
Global: Innovation Portfolios
Years of experience of working with governments on harnessing innovation in the public sector have shown that innovation challenges are often common across governments. By the same coin, many governments have experiences of successfully overcoming a comparative challenge. They can act as beacons, shedding light and expediting innovation learnings and solutions. To bring a collaborative and transformative leap in overcoming innovation obstacles, the OECD is launching a Government-to-Government…
A matter of methods, mindsets, and mechanisms. Why innovation portfolio management? Innovation Portfolio Management has long been used by the private sector to improve returns on investments. The potential of using the same approach to improve social returns is huge. A growing number of OECD Member countries and organisations in the international development sector are exploring innovation portfolio management. Follow, for example, the exciting work of OECD-OPSI, OECD INDEF, CGIAR, UNDP, UNICEF…
This is the second post of a series on innovation portfolio management for international development organisation. In the first article we laid out our approach to designing tailored innovation portfolio management models and approaches for development funders. In this post, we share insights from our collaboration on innovation portfolio management with the Ministry for Foreign Affairs Iceland. Iceland: A small but energetic player For most development organisations and funders, innovation…
Innovation portfolio management enables not only commercial actors but also public sector organisations to systematically manage and prioritise innovation activities according to concurrent and diverse purposes and priorities. It is a core component of a comprehensive approach to innovation management and a condition to assess the social return of investment across an entire portfolio. The OECD Observatory of Public Sector Innovation (OPSI) has worked in this space for a number of years. By…
Finland conducted its first public sector innovation barometer in the Central Government. The results are in and once again reaffirm that Finland gets many things right. 93% of organisations innovated during 2020-21. Innovation activities are motivated in particular by the needs of citizens and clients, productivity and new technologies. Drivers of innovation activities are also reflected in individual innovations and their effects. Innovation Barometer: what and why? The Innovation Barometer is…
Publication
Tackling Policy Challenges Through Public Sector Innovation: A strategic portfolio approach
This report discusses how steering innovation investment in public sector organisations through a portfolio approach can help governments respond to the multi-faceted challenges they face. Portfolio management is a well-known device in the financial sector, allowing for dynamic decision-making processes involving regular reviews of activity and ensuring a coherent distribution of resources among strategic options. The report illustrates how this approach can be applied by public sector…
Work Area
Innovation Portfolios
About Innovation Portfolios Portfolio approaches help reveal, connect and orient diverse and multi-faceted innovation activities according to an overall strategy. Why are portfolios needed? Innovation can be an uncertain investment. There is no guarantee that any single innovation will work, how it will work or what the unintended or unanticipated consequences might be. In an uncertain world, it is dangerous to rely too heavily on any one single strategy or approach. Changing circumstances…
Work Area
Innovation Management
About Innovation Management Sound innovation management practices strengthen the effectiveness and longevity of innovation activities. Why a systematised approach to innovation is needed Across the world, individuals, businesses, not-for-profit organisations and governments are thinking about innovation and how it can be harnessed and systematised to achieve growth or create value in organisations, public administrations, and in innovation ecosystems. Despite the existence of many individual…
This blog is part of a series introducing the OECD Mission Action Lab (MAL), an initiative supporting countries to turn mission-oriented innovation into action. Find out more about the OECD Mission Action Lab or contact us at [email protected]. The Unevenly Distributed Future Picture two mules and a wooden wagon right next to a space rocket. Now picture a world in which the richest 1% have more than twice as much wealth as 6.9 billion people,...