The world needs new approaches, not just more funding, as it faces a financing gap of an estimated $4 trillion annually to achieve the Sustainable Development Goals, or SDGs.

“We’re either going to find this money somewhere under the cushions … or we’re going to make it cheaper,” said Hala Hanna, executive director of Solve, an initiative of the Massachusetts Institute of Technology that launches open calls and backs innovators working to solve global problems. “So we really believe that innovation and finding new voices and new ideas is one key part of doing that.” 

Devex spoke with Hanna at South by Southwest in Austin, Texas. She drew on some of the same themes as Najada Kumbuli, head of investments at the Visa Foundation, and Nazanin Ash, CEO of Welcome.US.

Each of them discussed the ways their organizations leverage innovation, technology, and investment to support new solutions for the SDGs that won’t come from traditional models.

Listen to the episode to hear more on their strategies to build a more equitable future on Devex @SXSW, a special edition of our This Week in Global Development podcast.