Can Public Venture Capital Support Sustainability in the Social Economy? Evidence from the Social Innovation Fund.

Vanderhoven, Ellen; Steiner, Artur; Calo, Francesca and Teasdale, Simon (2020). Can Public Venture Capital Support Sustainability in the Social Economy? Evidence from the Social Innovation Fund. Journal of Business Venturing Insights, 13, article no. e00166.

DOI: https://doi.org/10.1016/j.jbvi.2020.e00166

Abstract

The Social Innovation Fund (SIF) - funded by Scottish Government and the European Social Fund - adopts a ‘public venture capital’ model to support socially innovative organisations. This article critically explores the use of public venture capital programmes to fund and grow the social economy through the case study of Heavy Sound Community Interest Company. We conclude that, while SIF funding helped Heavy Sound to scale-up an effective intervention in the short term, further significant scaling might undermine the project’s success and long-term sustainability was not assured. We call for further research into the long-term consequences of public venture capital programmes coming to an end, including coordinated evaluation of the SIF.

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About

• Item ORO ID
• 71553
• Item Type
• Journal Item
• ISSN
• 2352-6734
• Project Funding Details

• Funded Project Name	Project ID	Funding Body
  COOL MUSIC	Not Set	Social Innovation Fun

• Keywords
• social innovation; social economy; scaling up; sustainability; public venture capital
• Academic Unit or School
• Faculty of Business and Law (FBL) > Business > Department for Public Leadership and Social Enterprise
  Faculty of Business and Law (FBL) > Business
  Faculty of Business and Law (FBL)
• Copyright Holders
• © 2020 The Authors
• Depositing User
• Francesca Calo