[ Ø ] Harsh Prakash

Quiet Musings on Cloud, Machine Learning, Big Data, Health, Disaster, et al.

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How much does the humanitarian sector have to do to invest into innovation to produce effective results?

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In response to this question at Invest in Humanity – Aid & Trade London:

I think a lot i.e. the humanitarian sector has to invest a lot in order to produce effective innovation because that is the price of good innovation. If that was not the case, good innovation would be easier to come by, and that is why you see in the private sector – where you find arguably the most effective innovation – a lot of money put towards research and development.

Basically, the higher the risk, the more the reward. Conversely, the more the results from innovation, the more the risk or stakes, and therefore, more the investment betting on it.

So now the real question is: How can the humanitarian sector – where resources are limited – then pursue effective innovation?

And I think the answer to that lies in focusing on the other side of capital i.e. the human capital. The humanitarian sector is certainly short on funds, but it is full of passionate people. So it should invest a lot in supporting teams of self-driven individuals who can produce result-driven innovations.

Written by Harsh

April 22nd, 2018 at 10:33 pm

Posted in Education,Social

Tagged with , , , ,