This research project is led by the UCL Institute for Innovation and Public Purpose (UCL IIPP).
Explore all IIPP research projects here.
Dates of the project: 2017-2018
The Challenge
The 2008–2013 recession exposed deep structural imbalances in European economies and the limitations of conventional policy tools – particularly austerity and financialisation. There is an urgent need to rethink how innovation, employment, inequality, and sustainability interact, and to develop policy frameworks that can steer economies toward inclusive and resilient growth.
Our Approach
IIPP is a partner in the ISIGrowth project, led by the University of Pisa and funded by the EU’s Horizon 2020 programme. The project combines theoretical, empirical, and stakeholder-driven approaches to:
- Analyse the complex, non-linear relationships between innovation, inequality, employment, and environmental sustainability.
- Develop alternative policy scenarios that challenge austerity and promote inclusive, innovation-led growth.
- Use complexity theory and agent-based modelling to understand how technologies, institutions, and social dynamics shape economic outcomes.
- Deliver a coherent policy toolkit aligned with the Europe 2020 goals of smart, sustainable, and inclusive growth.
This work builds on IIPP’s previous collaboration in the FINNOV project, coordinated by Professor Mazzucato.
Why This Matters
ISIGrowth provides a new lens for understanding and shaping economic policy in a globalised, financialised world. By integrating innovation and sustainability into macroeconomic thinking, the project supports the development of policies that foster long-term prosperity and social cohesion. IIPP’s contribution ensures that public purpose and market-shaping strategies are central to this transformation.
Resources
Mission-Oriented Research & Innovation in the European Union: A problem-solving approach to fuel innovation-led growth
European Commission: Directorate-General for Research and Innovation and Mazzucato, M., Mission-oriented research & innovation in the European Union – A problem-solving approach to fuel innovation-led growth, Publications Office, 2018.
Read the report
Mazzucato launches new EC report on Mission-Oriented Research & Innovation in the EU
Read the news story
Mission-oriented innovation could stimulate growth while tackling plastic in seas, dirty cities and dementia
Read the news story
Details of the project, its partners, publications and events, can be found on the official website: http://www.isigrowth.eu/
Funder
This project is funded by European Union Horizon 2020.
This research project is led by the UCL Institute for Innovation and Public Purpose (UCL IIPP).
Explore all IIPP research projects here.
Contact
Professor in the Economics of Innovation and Public Value, University College London and Founding Director of the UCL Institute for Innovation and Public Purpose
Click to email. iipp-dir-comms@ucl.ac.uk