Transforming Innovative Public Procurement with a Focus on Impact and Data

How can innovative public procurement drive transformative solutions in complex times? This session explores two perspectives on rethinking procurement to tackle societal challenges. On one hand, traditional procurement often relies on upfront analyses, selecting a single provider based on a logic of payment for specific activities and services, rather than payment for outcome. 

In contrast, market-based approaches, like Impact Market, leverage big data and real-world testing to reward companies based on their demonstrated ability to achieve public goals. From another angle, the public sector’s immense purchasing power is hindered by organizational structures that often fail to align needs, development, and payment, raising critical questions about funding innovation and allocation of risk. Join us for an engaging discussion on how private market principles and public sector processes can drive innovation.