| Abstract |
The transformation of sociotechnical systems is necessary for achieving the Sustainable Development Goals (SDGs); however, often this is inhibited by the institutional inertia of the public sector, vested interests of the private sector, routine habits of individuals, and the increasing complexity of globalized activities. While policies to stimulate the transition exist, these are still insufficient. Meanwhile, there are many independent private initiatives to advance the social agenda. This research uses case study methods to explore the potential of innovation ecosystems created by an emerging private sector in meeting social agendas with disruptive and inclusive outcomes. The cases included here are East Ventures (Indonesia), Samurai Incubate (Japan/Kenya), and Aavishkaar Capital (India). Each case examines the best practices of distinctive business models in response to societal challenges by financing startups. Moreover, each demonstrates the innovation ecosystems that effectively complement the missing public services. Examining these can provide insights into how public policy can be formulated to scale up and transform these private initiatives into broader societal transitions to accelerate progress towards achieving the SDGs. |
