Ms Deirdre Mortell:

They are funded by a range of different things. Inspiring Scotland is funded by joint philanthropy by LloydsTSB Bank, a number of voluntary organisations and the Scottish Government. It is a Government and philanthropy leverage in the same way as we are thinking about here.

NESTA was established by the UK Government and raised money privately to run social innovation competitions on issues that are public policy problems. Let us say that it decides to run a competition on mental health or immigrant services so voluntary organisations would submit their ideas or model and compete for capital. There are many different models. They exist in Sweden, Serbia and in wider Europe. My organisation is examining the model based on the Obama Social Innovation Fund and the Scottish and UK models. There is a lot of evidence that the funds do good things for social purposes but they also create jobs in the economy.