The Age of Missions: Addressing Societal Challenges Through Mission-Oriented Innovation Policies in Latin America and the Caribbean

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Mazzucato, Mariana;
Nov 2020
Countries in Latin America and the Caribbean (LAC) face the challenge of finding new growth engines that allow them to achieve and sustain high levels of economic and social development in the long term. Social development implies that the objective is not to grow for growths sake, but to achieve a certain type of growth that goes in a certain direction, that ensures improvements in the standard and quality of life of people. In this context, mission-oriented policies can be key to directing investment in innovation toward solving the main challenges that countries face. Mission-oriented policies have been implemented in some LAC countries, obtaining different results and lessons learned. This document conceptualizes and characterizes mission-oriented innovation policies and offers criteria to select missions and challenges. It presents the key results and lessons from six case studies, highlighting their dynamics of implementation and outcomes. Finally, it provides conclusions and recommendations for policymakers.