Abstract
Does public investment in educational innovations makes sense? Is there a tangible return on investment in innovations, either public or private? We know for certain that investments in expanding the existing modes of education do pay off (Becker 2009). But does it make sense to invest in innovation? This chapter will consider available evidence on impact of educational innovation, primarily at K-12 level. It will also demonstrate the need to conceptualize the impact of innovation. Work conducted within the next generation of educational reform should look very different from what we have done so far.