New Philanthropy Capital (NPC) has published 10 philanthropic innovations from around the world that it argues should be introduced to the UK to help boost charitable giving and social investment.
The ten initiatives and new ideas come from across Europe, Australasia and the Americas.
The 10 innovations featured in 10 Innovations in Global Philanthropy include:
1. Indian ‘giving circles’
A giving circle is a small group of like-minded philanthropists who group together to share share expertise, conduct research and invest in a single issue. NPC has highlighted those circles that are run by the Indian foundation Dasra.
2. Foundations learning from mistakes
The Shell Foundation in the UK is learning from failing, and then publishing and acting on information from these failed projects. NPC say that the Foundation’s projects have moved from an 80% failure rate to a 80% success rate.
3. The Social Capital Note
In Australia the Goodstart consortium has create a new financial instrument to secure investment in children’s centres. NPC says that “innovative approaches to finance, including the layering of finance from several different sources, can unlock more money for good causes”.
Other innovations and trends cited by NPC cover open data, lean philanthropy, and 100% impact investing.
One of the authors, Plum Lomax, Deputy Head of the Funders Team at NPC, said:
“It’s all about getting more money directed to philanthropic causes, and using that money to do more than ever before. UK philanthropists are already very generous, but there is always scope to look around the world to see what else could be achieved.
“Big donors here should be getting together to collaborate, which doesn’t happen nearly enough, or to use new technology to map the areas of greatest need which they might tackle. It takes a bit of nerve to adopt new ideas, but the world is changing and UK philanthropists can’t afford to be left behind. This new and improved philanthropy can be a more exciting way to connect with the causes they support.”
The other innovations are:
- Knight Prototype Fund
- Edge Fund
- KL Felicitas Foundation