Workshop Impact investing in Smart Health Ecosystems
Tuesday, 10th March 2015 14:00 – 16:00 h
Venue: European Summit on Innovation for Active and Healthy Ageing, Brussels
Organisation: Coral – ECHAlliance – EIP-AHA Action Group C2
Impact investment is growing and there are opportunities for our SME’s and ecosystems if they can create economic and social impact in our regions. To create an economic impact, the system must be open to risk in order for ecosystems to innovate and create market growth. For social impact, we must consider systemic innovation.
Europe, USA and China offer complementary opportunities for systemic innovation and market growth. How can European ecosystems tap into these opportunities to attract impact investors?
Goal of the workshop
Launch definite steps to impact investing in assisted living in Coral regions and ECHAlliance Ecosystems.
Expected participants and organisations
We have invited experts with different backgrounds related to the topic of impact investment to reflect on the discussions within the discussion groups and are expecting different stakeholders that form the impact investing ecosystem to participate in the workshop:
- Demand Side: investees/ impact driven organisations
- Supply Side: investors/foundations, commissioners
- Intermediaries: banks, social exchanges, measurement experts
- Policy/ Enabling environment: regulation, living Labs, Community Of Regions for Assisted Living (Coral), European Connected Health Alliance (ECHAlliance), EIP AHA Action Groups and Reference Sites and the ENGAGED European Thematic Network on Active & Healthy Ageing.
- Identification of key events to raise awareness between the different camps
- Possible study visits between the US, China and Europe
- Actions to be taken for living labs to play an active role in impact investing
- Actions to stimulate collaboration between living labs cross borders
- Actions needed to mobilise impact investors in this field
- Identify first ideas to add to portfolio: learning by doing cases.
- 1. Introduction of the workshop by the moderator Shabs Rajasekharan, co-director Smarter Futures EEIG and member of Coordination Team AG C2 EIP AHA (5 min)
- 2. Short presentations of Coral and ECHAlliance about work in progress on Impact Investment (15 min)
- What is impact investing? How close are we to attracting investors? By Mariëlle Swinkels MSc, member of Coral
- Opportunities for growth across the Atlantic and China by Brian O’ Connor, chair of ECHAlliance
- 3. Introduction of Challenges for discussion:
- Two pitches about experiences from a business and investors perspective (15 min)
4. Discussion groups to discuss three challenges (3 x 15 min)
CHALLENGE 1: Living Labs as opportunity for creating impact
- European living labs offer an opportunity for early adoption and growth cycle. However, are they focused on market entry or incubation and research?
- Currently the majority of living labs are isolated from the system. How can we create real “living” labs that are within systems and promote co-creation with citizens?
- Innovations designed and created must be developed across regions to ensure cultural diversity and continuous innovation. How can we promote collaborations amongst living labs across borders?
- Can equity crowd funding be used as a means to involve the participation of end users in living labs?
CHALLENGE 2: Investing in Social and Economic Impact
- Impact investors and venture capitalists often fund enterprises rather than ecosystems, regions and whole systems. Could impact investors consider investing in whole systems to achieve impact? Is it feasible?
- Can a combination equity crowd funding, public funding and private funding work with our portfolios? What are the risks?
- Does impact investing across Europe make sense for investors? Can we use several cases in different regions under one umbrella of impact? Eg. (level 1) impact in dementia across Europe, (level 2) regional economic growth and social impact per region.
CHALLENGE 3: Measurement of impact
- Measurement of impact in social care requires a lot of learning by doing. To what extent are impact investors willing to collaborate and co-create on the evaluation of impact indicators related to new business models; the measurement of expected Social and Economic Return on Investment (SROI); and the development of the impact monitoring framework required to collect the evidence?
- 5. Plenary wrap up of key actions of the discussion groups
- 6. Conclusion and next steps
Download here pdf from the programme: 150303workshop Impact Investing Smart Health Ecosystems EIP AHA Summit 10 March 14-16 hrs.v2