Abstract
This article starts by introducing the examples of three nonprofits currently engaging in social innovation globally. These examples illustrate the notion of social innovation, providing the grounds to compare three definitions. Next, several key features that characterize third sector innovation are explained. The article’s central focus lies on a study of 24 innovative social organizations that have launched market-based initiatives involving low-income sectors in Ibero-America. Finally, the article sketches some initial ideas on local social innovation, revisiting the definition of social innovation.
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