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Journal Article
Innovation needs foundation support: the case of Social Impact Bonds
For more than 100 years, philanthropy has taken risks other sectors either would not or could not take to advance innovations benefiting poor or vulnerable people. The Robert Wood Johnson Foundation hatched the idea for a national 911 emergency response system. The Ford Foundation promoted the concept of community development corporations that would create jobs, preserve affordable housing, and promote small businesses. The Carnegie Foundation supported the initial development of Pell Grants. The Rockefeller Foundation funded the research behind the ideas that evolved into the US Social ...