It is estimated that there is nearly a million of 16 to 24 year olds classified as not in education, employment or training. The Department for Work and Pension Innovation Fund was launched in 2012 to support the payment-by-results programmes that enable vulnerable young people to participate and succeed in education and training. Triodos New Horizons seeks to address the underlying issues that could lead a young person to not achieve adequate educational qualifications and transition into work.
Triodos New Horizons will work with 14 to 18 year olds in Greater Merseyside; with a particular focus on ex-offenders, those in or leaving care and those with learning difficulties. Career Connect, formerly Greater Merseyside Connexions Partnership, will deliver a structured ‘Mental Toughness’ course providing interventions focussing on mental toughness and confidence to help young people overcome barriers that would prevent them from accessing further education and employment. The coaches will work in schools for three years, providing intensive one-to-one support. The programmes aims to work with around 950 vulnerable 14-17 year olds, identified by their schools as being most at risk of dropping out of school and becoming unemployed.
The interventions seek to create positive social impact by helping the young people improve their attendance and behaviour at school, achieve educational qualifications, and move on to further education or employment. Teachers will verify if a young person’s attitude, behaviour and attendance level has improved as a result of the intervention. National Qualification Framework (NQF) Level 1 and 2 qualifications and successful work placements will also be evidenced.
Big Society Capital has invested £315,000 which will provide risk and working capital for Career Connect to deliver the programme. Capital repayments can only be realised if the programme achieves specified targets as set out by the Department for Work and Pensions.
Our investment into Triodos New Horizons will help them build a track record and sustainability, with the aim of eventually expanding and financing other programmes across the UK.
- Big Society Capital investment: £315,000
- Total fund size: £1,049,850
- Co-investors: Bridges Ventures, CAF Venturesome, Wirral Partnership Homes, Esmee Fairbairn Foundation, Knowsley Housing Trust, Helena Partnerships and Liverpool Mutual Homes
- Outcome payer: Department for Work and Pensions
- Delivery organisation: Career Connect
- Manager/Arranger: Triodos Bank