MISSION VENTURING: DEMOCRACY’S SUPERPOWER IN THE INNOVATION RACE

The authors (Gupta; CEO of NobleReach Foundation; lecturer, “Valley Meets Mission” at Stanford University) and Fewer (Assistant Professor of Strategic Management at Rutgers University-Camden and Vice President at NobleReach Foundation); discuss that “democratic nations are in an innovation race with autocracies.” They “conducted a series of interviews with government officials, policy makers, and entrepreneurs to identify the key areas of tension for this critical and emerging area of mission-driven venturing.” This analysis led to the identification of “five action-areas of focus for mission-inspired entrepreneurs.” In their words: (1) Mission Multiplies Profit (2) Build the Easy Button (3) Customize for the Unknown (4) Learn the Language of Government (5) Build for the Long Haul. Suggestions within area 1 include, in their words, match the mission of government; and find opportunities to create public value. Within area 2, in their words, Understand the government’s problem and know the people burdened by it; and Solve 100% of a specific problem, versus 80% of a larger problem. They conclude that “it will be essential for democracies to leverage their superpower in the innovation race - the ability to foster an environment where mission-driven ventures can thrive and contribute to national competitiveness, security, and inclusive prosperity.”