chevron icon twitter logo facebook logo linkedin logo Youtube logo download icon quote icon posted icon clock icon author icon arrow icon arrow icon plus icon Search icon location icon location icon document icon plus-alt

Life Chances Fund- FutureU (Futures Advice) Nottinghamshire

Social Impact Bond

Location: Nottinghamshire, United Kingdom

Launch date: 2018

Duration: 60 months

Capital raised: £0.53m

Policy area: Employment

Government outcomes fund: Life Chances Fund (Department for Digital, Culture, Media & Sports, Big Lottery Fund)

Commissioners: Nottingham City Council, Nottinghamshire County Council, Department for Digital, Culture, Media and Sport (DCMS) (Central government)

Providers: Futures Advice, Skills and Employment Ltd (Charity Number: 4172770)

Investors: Social and Sustainable Capital, Futures Advice Skills and Employment

Advisor: Triodos Bank

SIB structure: Direct

Target population: FutureU is to provide person-centred support to 16-24 year olds in Priority Group 1 (PG1) who are special educational needs and disability (SEND)/demonstrate complex needs, and young people (YP) aged 15 at high risk of becoming NEET.

Size of cohort: 560

Stage: Implementation

Intervention description

FutureU is to provide person-centred support to 16-24 year olds in Priority Group 1 (PG1) who are special educational needs and disability (SEND)/demonstrate complex needs, and young people (YP) aged 15 at high risk of becoming not in education employment or training (NEET). FutureU will offer a bespoke package of support and training to YP including but not limited to: individual coaching, group work and peer support, personal budget management, social media, employer liaison and others.

Approach to Specifying Intervention

Based on provider's expertise from working with young people and understanding the support needs of YP with SEND. The intervention will be layered on top of current provision which is working well but not reaching this complex needs/SEND cohort. 

Outcomes

Young person sustains employment

  • Definition: As above (more details on payment triggers in Excel spreadsheet below)
  • Baseline: Comparison against similar programmes demonstrates that 10% of young people from the PG1/SEND target group achieve sustainable employment
  • Maximum Payment: £8,500
  • Outcome Target (#): 365

Young person achieves in education and/or training

  • Definition: As above (more details on payment triggers in Excel spreadsheet below)
  • Baseline: Comparison against similar programmes demonstrates that 10% of young people from the PG1/SEND target group achieving in education/training
  • Maximum Payment: £9,600
  • Outcome Target (#): 2406

Young person sustains apprenticeship

  • Definition: As above (more details on payment triggers in Excel spreadsheet below)
  • Baseline: Baseline takeup of apprenticeship opportunities is low, particularly amongst the target group
  • Maximum Payment: £5,500
  • Outcome Target (#): 287

Further information

  • Referral Route: FutureU will offer a Single Point of Access (SPA) for referrals – available via the internet, telephone, social media or in person. All YP will meet at least 2 of the 3 RONIs and will have additional risk factors and needs including exclusion, learning difficulties, mental health problems, substance misuse issues, homelessness and others. 
  • Total Potential Maximum Outcomes Payments: £2,674,972
  • Date Outcomes Contract Signed: 18/09/2018
  • Date Service Delivery Started: 01/08/2018

More detailed information on this project can be found in the Data Template Excel sheet linked below, with a full list of sources. All fields are defined according to our data dictionary.