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The aim of this report is to describe the factors necessary in launching a social impact bond (SIB). It combines the findings from separate research undertaken by Ecorys UK and the Policy Innovation Research Unit (PIRU) at the London School of Hygiene & Tropical Medicine. 

The research found four factors that seem to determine whether a SIB is launched, creating the LOUD model: Collective Leadership, clear Outcomes, shared Understanding and Data. In this report,  each of these four factors is explained, and examples are provided of where they were critical in determining whether a SIB was launched or not.