Seoul Metropolitan Government (SMG) announced the as a measure to enhance the city’s age readiness by supporting the younger elderly. The plan is one of the SMG’s social innovation model that has transformed towards the convergence of public policies to utilize the 50+generation as a meaningful social capital to cope with the city’s aging issues.
Innovation Tag: Experimentation
The Social Outcomes Fund (SOF), launched in 2012, was the world’s first Social Impact Bond (SIB) linked to government outcomes. This £20m fund catalysed the use of SIBs to address complex social issues in the UK by helping to align local and central government budgets. Today, the UK has had over 50 SIBs helping to improve people’s lives across the UK, and a substantial proportion of this growth has been stimulated by SOF.
The Poverty Stoplight (PS) seeks to activate the potential of families to eliminate multidimensional poverty beyond traditional income measures through a self-evaluation tool. PS is used by communities, businesses and governments to support families in assessing their poverty levels and implementing practical solutions, empowering the poor to be architects and protagonists in the process of eliminating poverty.