Making Waves

Making Waves

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A Caribbean Social Innovation Guide

Glossary

As you explore the world of social innovation, you may come across words and phrases that are new or used in unfamiliar ways. This glossary explains some of the key terms used throughout this guide and across the wider social innovation ecosystem. The definitions are intended to be practical and accessible, helping you build confidence as you continue your social innovation journey.

Accelerator A programme that helps existing ventures grow more quickly by providing mentoring, specialist support, business training and access to investors or partners. Biodiversity The variety of plants, animals and other living organisms in a particular area. Healthy biodiversity helps ecosystems function and supports livelihoods, food production and resilience. Bioeconomy An economy that uses renewable biological resources (such as plants, animals, agricultural by products and organic waste) to produce food, energy, materials and other products in sustainable ways.

Circular Economy An approach that aims to reduce waste by keeping materials and resources in use for as long as possible through repairing, reusing, recycling and finding new value in what might otherwise be thrown away. Co-design A way of developing solutions by working alongside the people who will use or be affected by them. Collaboration People or organisations working together towards a shared goal by combining their knowledge, skills and resources. Coordination The process of bringing people, organisations and resources together so they can work towards a shared goal. Community Engagement Working with people and communities to understand their experiences, involve them

in decision-making and build solutions together.

Ecosystem The network of people, organisations and institutions that support social innovation. This includes governments, businesses, universities, NGOs, community groups, investors, development partners and social innovators. Impact The positive difference an initiative makes for people, communities, the environment or society over time. Incubator A programme that helps early stage ideas or organisations develop by providing mentoring, training, workspace, networking and practical support. Innovation A new or improved idea, product, service or way of working that creates value or solves a problem more effectively.

Capacity Building Helping individuals or

organisations strengthen their knowledge, skills, systems and resources so they can achieve their goals more effectively.