Social impact bonds - update
10 February 2017
In February 2017, the first social impact bond in South Australia was released to investors. This is the first social impact bond in Australia that specifically targets homelessness, with a new intensive client-centred intervention – known as the Aspire program – to be delivered by a coalition of specialist homeless service providers, led by the Hutt St Centre and Common Ground Adelaide.
The program will target 600 homeless people in metropolitan Adelaide, with clients receiving assistance for up to 3 years. View the Media Release – Launch of the Aspire social impact bond to investors (8 February 2017) (PDF 158KB)
This short video clip illustrates the difference that can be made to improve the lives of homeless people, through the Aspire program.
Potential investors are welcome to contact Social Ventures Australia for more information. The information memorandum and related documents can be downloaded from the SVA website.
Social impact bonds (SIBs) and ‘pay by results’ contracts are about better outcomes for individuals and communities. Under these arrangements governments agree to share the financial benefits delivered through innovative social programs. Private investors may then provide the capital to pay for the program delivery, and then receive a rate of investment return that is linked to the success of the program, as measured against clearly defined outcome objectives.
Further information about the South Australian Government’s development of social impact investment in the state is provided on the About page.