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Social innovation has the ability to be the vehicle of transformation in the face of social, economic, environmental, and cultural challenges that face the world today. Social innovation is defined as "A novel solution to a social problem that is more effective, efficient, sustainable, or just, than existing solutions and for which the value created accrues primarily to society as a whole rather than private individuals."
In creating the platform for Social Innovation Honors, NASSCOM Foundation aims to identify projects where innovation could be in the form of both a process and a result. In looking at the process, NASSCOM Foundation aims to understand systems based on transfer and sharing of knowledge across the public, private, and nonprofit sectors. For NASSCOM Foundation, a social innovation can be not only a product, a process, or a technology, but also a principle, an idea, a piece of legislation, a social movement, an intervention, or some combination of the above.
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