(24 January 2020) – By building on lessons learned from the Portuguese Social Innovation Initiative, a new fi-compass publication delivers insights and advice for the adoption of a so-called ‘ecosystem approach‘, whereby all the needs and aspects of social economy stakeholders are addressed and factored into the policy tools.
In recent years, an increasing number of Member States and Regions across the EU have been engaged in social innovation pilot projects and proofs of concept – most with positive results.
To finance those projects, innovative social finance and impact investing instruments are also gradually being adopted. However, with few exceptions, an integrated approach to support the development of social finance ecosystems is still missing.
As the only integrated social innovation initiative using the European Social Fund (ESF) as a funding source, the ’Portugal Inovação Social’ initiative offers relevant lessons learned and recommendations for both Member States and the European Commission at a time when social innovation and social finance are becoming key priorities of European Structural and Investment Funds for the coming years.