Just over year ago, spurred by the Young Foundation’s report on gender-lens investing, a number of organisations including Big Society Capital committed to better understand the extent of diversity within social investment.
Many ex-offenders are reconvicted within one year of release. There is plenty of research to say that many prisoners think having a job is a vital part of keeping them out of prison. The problem is finding employment on release can be difficult, particularly for those who were unemployed before they were convicted.
It’s an important day for social impact bonds (SIBs) as London-based youth charity, Think Forward, has successfully delivered one of the first social impact bonds in the UK to tackle youth unemployment and provide a return to investors.
The Department for Work and Pensions’ Innovation Fund was launched in 2012 to support payment-by-results programmes that enable disadvantaged young people to participate and succeed in education and training. Big Society Capital has invested in five of these Social Impact Bonds, including Think Forward and New Horizons. This summer, the first cohorts of young people on these two programmes sat their GCSE exams, and far exceed all predictions.
Having previously managed a European Social Fund project, I’ve developed a very close eye for detail, dealt with a lot of data and have experienced a payment by results contract. Despite this, I don’t think anything could have prepared me for my next step into the world of social investment.
Writing in today's Guardian, Katie Allen looks at how K10 is using social investment from Impact Ventures UK (which Big Society Capital invested into) to support young people into apprencticeships in the construction industry.
Last month, Prince Charles visited the Homeground Hostel in Liverpool to meet young homeless people helped by Local Solutions, a charity supporting vulnerable and excluded people throughout the Merseyside region.
Energise is a programme delivered by charity Adviza, that works with 14 to 15 year olds across the Thames Valley to build resilience, confidence and aspiration among vulnerable young people, and prevent them from becoming unemployed.
Today, Impact Ventures UK (IVUK) has announced its first investment of £800,000 into K10 - an independent social enterprise that employs apprentices and places them in the London construction industry.
Big Society Capital and Impetus- PEF recently launched a report by the Young Foundation on the role of social investment in raising attainment of pupils from poorer backgrounds. To take the discussion forward, we brought together intermediaries, institutional investors, foundations and policy makers at a roundtable.
The educational attainment gap is one of the UK’s most pervasive problems. In spite of improved general educational attainment over the last decade, the number of young people, particularly those from socially deprived backgrounds, leaving secondary school without any qualifications or unprepared for the world of work has increased.