Two useful SIB specific stories today and a third interesting Q&A on a slightly broader framework – plenty to read so I’ll get out of the way and leave you to enjoy a pleasant morning scroll:
The UK’s Social Finance, pioneers of the first Social Impact Bond (SIB), have released the initial results of their project launched in 2010 to reduce recidivism at the Peterborough Prison. The first cohort of 1,000 prisoners participated in an innovative program led by several social sector organizations, designed to help them resettle into communities post-release. Compared to a control group, the first cohort experienced an 8.4% reduction in reconvictions. While the percentage decrease is not sufficient to trigger a payment to investors, Social Finance UK and the Rockefeller Foundation (a key investor in the SIB) have both concluded that these first results are a positive indicator that investors are on track to receive outcome payments in 2016.
Social Impact Bonds
Economic Change CIC has spent some of the summer working with a consortium of organisations in East Sussex to develop a Social Impact Bond Proposal for DWP.
Economic Change successfully secured funding to develop the SIB proposal, facilitate conversations with partners and beneficiaries, develop a proposal showing innovation and a proven track record, and secure backing from an investor ready for the PQQ to be submitted. We are now awaiting the outcome.
In Pursuit Of Scaled Impact – Lessons Learned From A Canadian Social Finance Intermediary
Mötesplats Social Innovation
As an intermediary in the social finance and employment space, Social Capital Partners has gone through many course corrections and learnings. A few key questions that we asked ourselves have guided our evolution.