Sec. 2. Findings
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Congress finds the following: The effectiveness of United States foreign assistance can be greatly enhanced by fostering innovation, applying research and technology, and leveraging the expertise and resources of the private sector to find cost-effective solutions to today’s most pressing development challenges. Partnerships with entrepreneurs, experts, nongovernmental organizations, universities, and science and research institutions allow the United States to find solutions to specific development challenges in a faster, more cost-efficient, and more financially sustainable way.
Enhancing the authorities that support results-based and pay-for-success innovation models will better enable USAID to diversify and expand both the number and sources of ideas that may be developed, tested, and brought to scale, thereby increasing the USAID’s opportunity to apply high value, cost-effective solutions to global development challenges. As demonstrated by USAID’s Development Innovation Ventures program, innovation within United States foreign assistance can generate high social returns when it is centered on the creation of and reliance on rigorous evidence of impact on global development outcomes, a focus on cost-effectiveness, and attention to financially sustainable scaling pathways.
Enabling uptake of evidence-based innovation across USAID’s operating units will enable USAID to scale breakthrough solutions that accelerate economic growth and produce better development outcomes, which can help support the growth of healthier, more stable societies and foster trade relationships that translate into jobs and economic growth in the United States.