Role of State-Level Governments in Fostering Social Innovation

AbstractThis study examined U.S. state-level policy aimed at fostering social innovation. Using a web-based protocol, searches were conducted on key words: social innovation, social entrepreneurship, social enterprise, social impact, innovation, low-profit limited-liability, benefit corporations, and social impact bonds. Findings suggest states vary considerably in policy action and infrastructure that creates an environment to stimulate innovation. Policies allowing low-profit limited-liability companies and benefit corporations are primary tools, while social impact bonds are being explored in some states. Infrastructure development, including offices and committees are also used. Government can be seen as a key lever to stimulate and embed social innovation practice.