Exploring the Linkages Between Social Impact Grantmaking & Social Innovation: Insights for Grantmaking Practices

The discussion and search for more advanced societal wellness and public health is centuries old, yet data suggests that public health and social care systems continue to struggle. In pursuit of mitigating this broad array of challenges, both government and private philanthropic funders have prolifically used grantmaking as a funding mechanism. Within this quest for positive social impact, many funders have expressed interest in the emerging field of social innovation. This study seeks to examine the use of social innovation in the strategic grantmaking practices of funders in Colorado, exploring how these organizations are integrating social innovation into their funding strategies to achieve greater social impact. Through an in-depth exploration of social impact grantmaking and the role of social innovation, and by utilizing reflexive, thematic analysis this research aims to provide insights that could guide future grantmaking practices and contribute to the academic discourse on social innovation. Findings from this study provide insights to grantmakers regarding effective strategies for incorporating social innovation into funding practices and offers new perspectives on how social innovation can be operationalized to address social impact outcomes.