The Value of Investing in R&D in International Development
Innovations for Poverty Action (IPA), one of Educate!’s highly-valued research partners, has published a video which highlights the importance of investing in research and development in international development work. As an impact-obsessed learning organization, we very much appreciate IPA’s take on the value of research-informed design and rigorous evaluations. A few key points:
The international development sector invests very little in R&D
On average, less than 1% of yearly revenue in international development is spent on research and development efforts, compared to the 6-20% spent at companies like Google and Intel.
Investing in R&D has a multiplier effect and brings solutions to scale
For example, when research demonstrated that free mosquito nets were accessible and valuable to the maximum number of potential users, development organizations began to give them out for free instead of charging for them. The impact of this change, made possible by R&D, is estimated to have saved at least tens of thousands of lives, as well as 8 billion dollars.
Evidence-based solutions have saved billions of dollars
Governments and organizations around the world need data to make cost-effective, evidence-based decisions. When innovations are tested, they have the potential to save billions more, which is especially important as we battle the lasting consequences of COVID-19, which could leave over 100 million more people in extreme poverty.
Good intentions are fine, but if we want to solve complex global issues, investments in R&D are critical for data-driven, cost-effective impact.
Check out IPA’s Ripple Effect video for more.