Purpose of the article. The purpose of the article is to reflect the results of the authors’ conducted research that was aimed to contribute to understanding of the concept of social innovations. Methodology/methods. To achieve the established goal, an analysis of the textual information was performed, using software AQUAD 6.0. Information data base included 51 definitions of the term ‘social innovation’ pro-posed by individual researchers, governmental and non-governmental institutitons and research agencies. Con-tent analysis was performed, using the procedures of open-coding, theory-based coding and analysis of frequen-cies. Theory-based coding was conducted in collaboration with an invited expert. To measure an inter-rater agreement, Cohen’s Cappa coefficient was calculated. Scientific aim. The goal of the research is to provide an insight into the concept of social innovations by study-ing its development and identifying its core elements and features. Findings. Deep analysis of the definitions of the investigated concept yielded five elements assigned to social innovations: 1) social goal, 2) transformative power, 3) crossdisciplinarity, 4) new relationships and collabora-tion forms, and 5) impact on society’s capacity to act. Besides, the question about the main outcomes of the implementation of social innovations was explored. Based on the research results, the conceptual model of social innovations was created. The model involves three content blocks: inputs (drivers), core elements (features) and outputs (impact). Conclusions (limits, implications etc). The given study was conducted within the framework of the research project, which brings together scholars from several universities. Thus, it was critically important to come to the consensus on understanding of the meaning of the analysed concept. Besides, exploring the concept of social innovations provides a platform for further investigations in the field of impact measuring, evaluation of state/sector/company’s potential to implement social innovations and etc.