Steering scientific and technological advances to tackle societal challenges.
Innovation has a direction as well as a rate. Not all forms of innovation create public value. For example, developments in ICT have led to the emergence of ‘platform capitalist’ companies with enormous market power that have created new and improved services but in doing so also threaten the quality and quantity of work and privacy.
This research pillar examines how innovations and advances in technology and science can be steered towards tackling the grand societal challenges facing the world, such as how to ensure healthy ageing, decent jobs for all, an effective welfare state and a just transition to a low carbon economy.
IIPP is working closely on this agenda with all levels of government, including the UK government, the European Commission [link] and the European Space Agency [link]. We are also researching the macroeconomic implications of innovation-led growth and what it means for fiscal policy in particular.
Current research projects
IIPP is working with the Royal Society for the Arts, Manufactures and Commerce (RSA) on a pilot project focussed on applying mission-oriented innovation policy to a challenge at city level.
IIPP is a partner in the Innovation-fuelled, Sustainable, Inclusive Growth (ISIGrowth) project, led by the University of Pisa, and funded through the European Commission's Horizon 2020 programme.
A new collaboration with the Inter-American Development Bank will look at how strengthening innovation systems in Latin America is key to future growth opportunities.
IIPP is researching alternatives to shareholder-dominated models of medical innovation that could achieve better outcomes both for innovation as well as its affordability and access for patients.
The macroeconomic implications of innovation policies
A new way of understanding the macroeconomic implications of market-shaping policies in terms of long-term investment and economic growth. Read more
Mission-oriented innovation policy
Mission-oriented policy lay behind some of the biggest innovative leaps forward of the last century and can offer the transformative approach needed today. Read more
Space partnerships for mutualistic innovation eco-systems
As public activities in space are undergoing significant change, IIPP research aims to inform policy focused on directing space innovation activities towards maximum socio-economic benefit. Read more
The State's role in technological revolutions
This research stream analyses the role of the state in driving innovation to generate innovation-led inclusive economic growth. Read more
IIPP WP 2018-02: Putting Austerity to Bed: Technical progress, aggregate demand and the supermultiplier
Mariana Mazzucato (Penguin, 22 March 2018)