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This paper aims to provide an introduction to and overview of the social investment market for policy makers in OECD and non-OECD countries. Social investment is the provision of finance to organisations with the explicit expectation of a social, as well as financial, return. Social investment has become increasingly relevant in today’s economic environment as social challenges have mounted while public funds in many countries are under pressure. New investment approaches are needed for addressing social and economic challenges, including new models of public and private partnership which can fund, deliver and scale innovative solutions from the ground up.

Science and Technology

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There has been increasing global concern from policy makers over the lack of access to finance for young innovative firms. As a result, governments in many OECD countries have sought to address the financing gap and perceived market failures by supporting the seed and early stage market. This paper seeks to summarise the lessons learned in seed and early stage finance based on OECD work focused on policies related to financing high growth firms, including angel investment and venture capital. Growth in seed and early stage finance policies highlights the role that financial development and other policies play in firm dynamics and job creation.

Science and Technology

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This report highlights the growth in support for financial instruments for seed and early stage firms across OECD member countries. These instruments include grants, loans and guarantee schemes, tax incentives and equity funds. This increased support is linked to the recent financial crisis and the growing concern about young firms’ access to finance. The paper notes that framework conditions play an important role in access to finance and must be taken into consideration as a significant part of the policy mix. Demand-side policies to develop entrepreneurial and investment talent and networks are also critical. The role of evaluation and the need to better link policy objectives and outcomes are also discussed.

Finance and Investment --- Science and Technology