Social Impact Bond
Location: Northamptonshire, United Kingdom
Launch date: 2017
Duration: 36 months
Capital raised: £0.1m
Policy area: Homelessness
Government outcomes fund: Commissioning Better Outcomes Fund (Big Lottery Fund)
Commissioner: First for Wellbeing CIC (a partnership between Northamptonshire County Council, Northamptonshire Healthcare NHS Foundation Trust and the University of Northampton) (Local government)
Providers: Mayday Trust
Investors: Bridges Fund Management
Advisor: Numbers for Good
SIB structure: Intermediated
Target population: Young people (aged 18-30) who are Not in Employment, Education or Training (NEET), homeless, but not in priority need, or a priority for Local Authority support but unable to be accommodated in a supported housing scheme.
Size of cohort: 97
This project uses a SIB framework to deliver outcomes for people experiencing homelessness using the Personal Transitions Service (PTS) approach.
This service builds on individuals' strengths, assets and ambitions as a way of transitioning out of tough times, such as homelessness, leaving prison, psychiatric hospitals or care. By replacing traditional key-working responses with inspiring asset-based coaching and highly personalised real world opportunities, individuals achieve their aspirations and move on with their lives quickly, with dignity and respect.
Stable community-based accommodation