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
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.
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.
Young person sustains employment
Young person achieves in education and/or training
Young person sustains apprenticeship
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.