Innovation Tag: Financing Mechanisms and Innovation Funds

This initiative was created to accelerate the decarbonisation process of the energy and transport sectors in Colombia and work on the training and technicalization process for multiple sectors of society involved. A total process of decarbonisation of the energy and transport sectors cannot be possible if working in a single line. Carbon Neutral Pathway (Camino Hacía Carbono Neutral - CHCN) works with a broad range of stakeholders, including public officials, journalists, academics,…

The Innovation Fund for Development (Fonds d'Innovation pour le Développement) is a new and ambitious funding mechanism. It offers grants to innovators and researchers to experiment, take strategic risks and demonstrate the impact of solutions aimed at reducing poverty and inequality. It enables teams from all types of organisations to test new ideas and put innovation and research at the service of transforming public development policies.

The Local Wealth Building Challenge Fund is designed to provide financial and non-financial support to develop new products and services to tackle challenges. One aspect of this Challenge Fund which is unusual is the focus on developing innovations that will be procured by the challenge holder, providing additional incentives and focus. Public and third sector organizations often have issues that can be solved not by getting new skills or more workers, but by being innovative. The Challenge…

The Acolhe Programme offers private network accommodation for women in situations of violence in more than 230 municipalities in Brazil in partnership with municipal networks for confronting violence. In addition to offering reception, the programme acts on the municipality's referral flow by demanding a public response to the problem and offering qualification.

The innovation refers to a structured platform for cooperation between the Municipality of Amaroussion and the private sector for the public benefit. Corporate Social Responsibility resources are used to cover identified local needs in synergy with public interventions/services. Following a minor organisational reform, a team of officials has been trained to implement an innovative customised methodology that allows visibility and accountability and promotes the extroversion of public sector.

The rate of innovation often exceeds the speed at which regulatory systems can adapt, blurring lines between sectors and cutting across transitional regulatory and geographical boundaries. The RPF aims to keep the UK at the forefront of regulatory thinking and experimentation. It sponsors projects, led by regulators, aiming to help create a UK regulatory environment that encourages business innovation and investment. It is market-led and uses real-world innovation settings to deliver.

Becoming a circular economy entails a deep transformation of industry, consumer behavior and policy. Traditional innovation funding focuses on technology, punctual projects and (single) companies, which alone fail to bring the required systemic change. Hence, the Flemish government launches the subsidy programme Living Labs Circular Economy for projects tackling complex challenges, with a high ambition level, in co-creation with very diverse stakeholders and employing system innovation methods.

In 2021, SIRA clawed back $91 million in excess insurer profit earned on the sale of compulsory motor accidents insurance and returned it to NSW drivers. This move was made possible after the 2017 reforms introduced a transitional excess profits and losses (TEPL) mechanism that was designed to eliminate insurer ‘super profits’ of the past. To our knowledge, the activation of this mechanism to claw back excess insurer profit and return it to the people was a world first.

The National Agency of Research and Development has piloted a new program, called ‘Exploration Projects’, that allows funding of disruptive, unconventional, and high novelty science and research in all areas of knowledge. The program goals are to promote this type of science, propose the exploration of new and unconventional perspectives, methodologies, theories, and technologies, with the potential for significant reward to its discipline, field of knowledge, as well as society.

Countries in the Western Balkans created digital infrastructure to support transparent business operation and prevent fraud in their Common Regional Market. The official registries from 5 countries in the Western Balkans created a digital platform, connecting all official legal and financial data about companies, connected entities, blocked bank accounts and sanctioned persons, bridging different legislations, languages and currencies. The platform won the 2022 OECD/SIGMA/ReSPA award.