Social Innovation Strategies

This lecture discusses the concept of social innovation, focusing on the need for innovations to address severe market failures and create social value. It explores examples such as new vaccines for global markets and the role of advanced market commitments in fixing market spillovers. The instructor presents cases where social innovation is a necessity due to high fixed costs and the inability of private innovators to capture value. The lecture also delves into the importance of evaluating social innovations and the impact of scale in achieving large-scale transformational benefits for society.