UCL launches new Institute for Innovation and Public Purpose

UCL's new Institute for Innovation and Public Purpose (IIPP) will be officially launched tomorrow, with a keynote lecture by its director Professor Mariana Mazzucato, and a high level panel discussion. Professor Mazzucato, who last week won the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought, joined UCL in March this year to found the Institute. She holds the chair in the Economics of Innovation and Public Value at UCL. Her lecture, "21st Century Policymaking driven by public value and public purpose" will set out IIPP's bold agenda to rethink how public value is created, nurtured and evaluated. The talk will be followed by a discussion with leading thinkers about innovation and the public sector: Mike Bracken, Dan Hill and Professor James K Galbraith, and will be chaired by FT Innovation Editor, John Thornhill. IIPP's work will challenge conventional economics which limits the role of public policy to fixing market failures. Building on Mazzucato's work on the Entrepreneurial State, it will explore the role of the public sector in co-creating and shaping new markets in ways vital for both long-term economic growth-and essential to tackling major challenges such as in climate change and health innovation.