Impact Bond: Unlocking Potential (Career Connect)
Stage of development: Complete
Policy sector: Employment and training
Intervention: As part of the Youth Engagement Fund, the SIB aims to help disadvantaged young people aged 14 to 17 to participate and succeed in education or training. This hoped to improve their employability, reduce their long term dependency on benefits, and reduce their likelihood of offending. The programme was typically 13 weeks long, during which a coach developed and implemented an individualised action plan with the young person, which could include resilience training, coaching, employability support, the completion of qualifications and sign-posting to other specialised provision.
Start of service provision: 2015-04
Actual end of service provision: 2018-09
Total investment commitment currency: GBP
Total investment commitment: 1120000
Total investment commitment (USD): 1711111.047
Finance notes: "The total value of outcome payments claimable for support provided to an individual participant is limited to
£8,200 for Round 1 and £11,700 for Round Two participants."
Target population: Young people with behavioural, mental health or wellbeing issues aged 14 to 17 in Greater Merseyside
Notes: The SIB was managed through an SPV, which included intermediary support from Triodos Bank. Career Connect was also involved in the Innovation Fund.