The overall aim of this workshop is to gain deeper insights and practical lessons from projects and arrangements using 'blended finance' for science, technology and innovation (STI) linked to the Sustainable Development Goals (SDGs). Achieving the SDGs by 2030 is challenging but feasible. STI and financing STI will be of crucial importance in that endeavour.
The business, government and higher education sectors are the main funders of STI in OECD countries, with the government and higher education sectors responsible for more fundamental and basic research. But foundations, philanthropies and national and international development banks are also important actors in funding STI in both OECD and developing countries.
Mobilising public, private, philanthropic and development bank capital for STI activities and resources in developed as well as developing countries will rest on effective arrangements and partnerships. There are instructive lessons from public/private partnerships for funding of innovation projects in the OECD countries. However, financial innovation has often been highlighted as key to further capital mobilisation.
This workshop aims to address 'blended finance' for STI in both developed and developing countries. The workshop will in particular focus on the health and energy sectors, and sectors where technological and knowledge development issues are key for SDGs. More precisely, the objectives will be to:
- Identify good practice examples of mechanisms for applying 'blended finance' concepts to the financing of STI for global public goods and SDGs;
- Illuminate the main leverage or blending mechanisms used in blended finance for STI;
- Highlight the main lessons, including from successful and less successful experiences in the health, energy and key technological areas on funding R&D, innovation and markets; and
- Identify possible new avenues and arrangements for blended finance for STI.
Contributors and participants
The main partners in organising the workshop are the Wellcome Trust, the Research Council of Norway, the Blavatnik School of Government and the OECD. The OECD's Committee for Science, Technology and Innovation will include the topic of blended finance for STI in its work programme for the next two years.
Through this initiative, the organisers intend to gather a variety of organisations and institutions engaged in blended finance. These may be the OECD (Committee of Science and Technology Policy as well as the Development Assistance Committee), the European Commission, the European Investment bank, the European Bank for Reconstruction and Development, the World Bank, regional development banks such as Asian Development Bank, sovereign wealth funds, pension funds, insurance companies, commercial investment and banks, venture capital funds, private equity firms, asset/wealth managers and private business representatives from key sectors, philanthropic organisations, universities and research labs, national ODA agencies, and policy makers.
For more information, please see the attached brochure. Please register via the Research Council of Norway's website.