Giving Compass' Take:

• Fast Company takes a look at ways to inspire and encourage new research in science and technology to improve our world's poverty through innovations in health, education and our economy. 

• How can top philanthropies, organizations and business's incorporate these tools to inspire innovation to better our world?

• Learn how nonprofits can start implementing more successful innovation measures. 

Despite many advances, “we haven’t seen many large-scale applications to problems of the poor,” says Susan Athey, a professor of economics at Stanford Graduate School of Business.

Athey was speaking earlier this fall at the Inaugural Market Shaping Conference–organized by the school’s Initiative for Shared Prosperity and Innovation–that  examined how interventions by governments and private organizations could encourage innovations with massive social impact despite meager financial returns.

Supported by Schmidt Futures, a philanthropy promoting emerging technology and science, the event drew about 45 academics, investors, foundation executives, and others. Speakers discussed examples of market shaping successes as well as the many challenges in designing and implementing them. Following are some highlights:

  • Pointing to successful models
  • Navigating the obstacle course
  • Rewarding the results

Read the full article about creating solutions to poverty and inequality by Louise Lee at Fast Company.