Date Added: May 2009
The Obama administration has allocated $50 million in the upcoming budget in a Social Innovation Fund. A component of the new Serve America Act, First Lady Michelle Obama announced the creation of the fund on May 5, 2009 in New York. The aim is the non-profit sector, and the fund will support innovative social entrepreneurs to expand, "Their successful approaches to tackling the most pressing national changes." So what is social innovation, and is it synonymous with innovation for sustainability? Essentially, social innovation is defined as positive efforts made to solve social needs, and strengthen civil society.