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Throwing Good Money After Good

The United States and France have established public funds that invest in innovations addressing the needs of poor people. These social innovation funds, characterized by an open, tiered, and evidence-based approach, have already benefited more than 100 million people and could be a powerful tool in reducing global poverty.

PARIS/CHICAGO – Innovation can have a profound effect on our lives. Thanks to technological advances that reduced the price of solar energy by nearly 90% between 2009 and 2019, the green-energy transition is within reach. Likewise, agricultural innovation has helped to triple the amount of food grown per hectare since 1960, dramatically reducing hunger even as the world’s population more than doubled. And mRNA vaccine technology has saved countless lives during the COVID-19 pandemic.