Image
Torino Social Impact
Published on 24 May 2018
Italy
This is the good practice's implementation level. It can be national, regional or local.
About this good practice
Torino Social Impact (TSI) is an alliance among companies, public and private institutions aimed at making Turin one of the best places in the world to do business and finance pursuing goals of economic viability along with objectives of social impact. A cluster of skills, activities, services to strengthen and promote the local ecosystem in the framework of Agenda 2030.
In 2017 the Torino Social Impact Memorandum of Understanding (MoU) was signed by more than 50 organisations with the purpose to make Turin an ecosystem for entrepreneurship and investments with social impact and high technological level.
In 2020 there are more than seventy companies, institutions, financial operators, charities, foundation and third sector enterprises that joined the project by subscribing the MoU.
Partners includes: Public sector (Turin Chamber of commerce; Municipality of Turin; Metropolitan City of Turin); Finance and philantrophy actors (such as: Banks, Foundations); Skills and Facilities for Social Innovation actors (such as: Impact Hub Torino, Nesta Italia, Open Incet - Giacomo Brodolini Foundation); Third sector and cultural entities (Social Entrepreneurship Committee; Cooperatives unions); Research, innovation and technology transfer centres (Politecnico of Turin; Torino Wireless; University of Turin); Incubators and accelerators (2i3T Incubator; I3P Incubator; SocialFare); Private sector - profit and non profit for Social Innovation actors.
In 2017 the Torino Social Impact Memorandum of Understanding (MoU) was signed by more than 50 organisations with the purpose to make Turin an ecosystem for entrepreneurship and investments with social impact and high technological level.
In 2020 there are more than seventy companies, institutions, financial operators, charities, foundation and third sector enterprises that joined the project by subscribing the MoU.
Partners includes: Public sector (Turin Chamber of commerce; Municipality of Turin; Metropolitan City of Turin); Finance and philantrophy actors (such as: Banks, Foundations); Skills and Facilities for Social Innovation actors (such as: Impact Hub Torino, Nesta Italia, Open Incet - Giacomo Brodolini Foundation); Third sector and cultural entities (Social Entrepreneurship Committee; Cooperatives unions); Research, innovation and technology transfer centres (Politecnico of Turin; Torino Wireless; University of Turin); Incubators and accelerators (2i3T Incubator; I3P Incubator; SocialFare); Private sector - profit and non profit for Social Innovation actors.
Expert opinion
Torino Social Impact is an initiative that emerged from public-private leadership to strengthen Turin entrepreneurial ecosystem and develop activities with social impact. As of 2020, the Torino Social Impact Memorandum of Understanding (MoU) is signed by more than seventy stakeholders and involves partners coming from quadruple helix organisations—public sector, financial and philanthropy actors, skills and facilities for social innovation actors, third sector and cultural entities, research, innovation and technology transfer centres, Incubators and accelerators, private sector, and not-for-profit organisations. The stakeholders have debated on 5 main topics ranging from tools for social innovation to collective actions and civic technologies to develop an Integrated Action Plan for the territory. A Centre of Competence (CoC) on impact measurement emerged from this initiative.
Some insights from this good practice:
-The good practice illustrates the importance to involve quadruple helix stakeholders in understanding needs and experimenting with social impact solutions to transform the entrepreneurial ecosystem. It provides a successful example of stakeholders’ engagement on developing an Integrated Action Plan that can inspire many regions.
-The good practice can inspire many European regions in promoting social innovation and impact within an existing entrepreneurial ecosystem.
Some insights from this good practice:
-The good practice illustrates the importance to involve quadruple helix stakeholders in understanding needs and experimenting with social impact solutions to transform the entrepreneurial ecosystem. It provides a successful example of stakeholders’ engagement on developing an Integrated Action Plan that can inspire many regions.
-The good practice can inspire many European regions in promoting social innovation and impact within an existing entrepreneurial ecosystem.
Works at
Interreg Europe Policy Learning Platform
Resources needed
Every stakeholder involved in Torino Social Impact has been provided (and will provide) its own human and financial resources to achieve the goals of the project.
Evidence of success
Torino Social Impact stakeholders have worked debating on 5 main topics:
1. Challenges and tools for social innovation;
2. Collective actions;
3. Engagement and capacity building;
4. Civic technologies;
5. Finance and impact assessment.
On the basis of that, stakeholders have provided an Integrated Action Plan for the territory.
An example of collaboration and success is the realisation of a competence center for impact measurement (from November 2019).
1. Challenges and tools for social innovation;
2. Collective actions;
3. Engagement and capacity building;
4. Civic technologies;
5. Finance and impact assessment.
On the basis of that, stakeholders have provided an Integrated Action Plan for the territory.
An example of collaboration and success is the realisation of a competence center for impact measurement (from November 2019).
Potential for learning or transfer
TSI is an innovation process appropriate to be replied in other regions:
• promoting the growth of the culture of the social impact and the consolidation of scientific communities founded on the openness paradigm;
• setting up a widespread and coordinated network of “listening points” to find social and sustainable projects to be accelerated in a way attractive for investors;
• offering a regional permanent observatory of the evolution of enterprises with social impact, investors with social impact and policies supporting social innovation;
• promoting the region at European level as a privileged ecosystem for growth and establishment of enterprises technologically oriented and with social impact, as well as for the social finance and investments;
• connecting to the most important impact investing funds opportunities and networks at national and international level.
• promoting the growth of the culture of the social impact and the consolidation of scientific communities founded on the openness paradigm;
• setting up a widespread and coordinated network of “listening points” to find social and sustainable projects to be accelerated in a way attractive for investors;
• offering a regional permanent observatory of the evolution of enterprises with social impact, investors with social impact and policies supporting social innovation;
• promoting the region at European level as a privileged ecosystem for growth and establishment of enterprises technologically oriented and with social impact, as well as for the social finance and investments;
• connecting to the most important impact investing funds opportunities and networks at national and international level.
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
City of Turin
Italy
Piemonte