Innovation Ecosystems & Impact Investing: Beyond Metrics
In a thought-provoking session moderated by Manoj Kumar of Social Alpha, sector leaders examined the disconnect between innovation, entrepreneurship, and impact investing when applied to development. Elena Casolari of OPES Fund offered a candid reflection on how her gender-focused impact fund unintentionally mirrored Silicon Valley models and failed to deliver on inclusivity despite its original intent. She questioned the legitimacy of impact investing if its metrics and governance continue to mimic traditional venture capital playbooks.
Gerry Higgins of SEWF shared a deeply personal case of a social enterprise collapse in Scotland, caused by flawed governance and lack of board accountability. His experience underlined the importance of skilled, courageous, and mission-aligned boards, especially in enterprises navigating both commercial and social expectations. Victoria Sabula from AECF spotlighted structural design flaws in development programs that disproportionately harm local entrepreneurs in Africa and described how AECF evolved by integrating long-term, hands-on advisory support alongside catalytic capital.
Chintan Vaishnav of AIM offered a powerful systems-level diagnosis of India’s innovation infrastructure, identifying six “pathologies” that hinder incubators and government processes. From academic disengagement to bureaucratic rigidity, his reflections emphasized the need to align incentives, decentralize decision-making, and encourage ecosystem-wide learning. Across the panel, a common message stood out: confronting and learning from systemic failures is essential to building inclusive and sustainable innovation ecosystems.
