Solutions to many of the major problems in the world have been identified in Sustainable Development Goals (SDGs). However, funding these SDGs remains an immense challenge, in the region of $5-7 trillion annually. In this episode, we talk with Marc Ventresca and Michele Scataglini, two experts in economic systems and emerging technology, to explore the potential application of crowdfunding as a solution to bridge the funding gap.
While today’s donation-based crowdfunding amounts to less than a half billion US dollars –global philanthropic giving is $500 billion–Ventresca and Scataglini believe that utilizing best practices and innovating on crowdfunding platforms can unlock significantly larger sums. In Marc and Michele’s research, they look at three key areas. The first focus is upon the intricacies of crowdfunding technology to learn how it disrupts traditional economic systems thinking. Second, they consider how the platform of crowdfunding could be applied to funding the SDGs. Finally, they look at crowdfunding from a system-building perspective.
Marc Ventresca serves on faculty at the Saïd Business School, University of Oxford, and is a Governing Body Fellow of Wolfson College. His research and teaching focus on innovation, institutions and infrastructure. His current research investigates comparative infrastructure and governance in digital platform technologies and on systems change in the context of 4IR. He advises Oxford alumni ventures and sits on the Advisory Board for Global Thinkers Forum and for Participatory City. He is Senior Research Fellow at the Technology and Management for Development Centre, QEH, and he is a member of the Management Committee of the Centre for Technology and Global Affairs, DPIR. @marcventresca.
Michele Scataglini is an innovation strategy advisor with more than 20 years of international experience in the management consultancy industry, including 10 at EY. He specializes in public policy and innovation strategy. Scataglini is also the founder of INSTA Associates, an innovation and strategy consulting practice. He received a post graduate diploma in strategy and innovation from the University of Oxford’s Said Business School. @michelescatta.