Impact Bond: Prevista
Stage of development: Complete
Policy sector: Employment and training
Intervention: As part of the Youth Engagement Fund, the SIB aimed to help disadvantaged young people aged 14 to 17 to participate and succeed in education or training. It hoped to improve their employability, reduce their long term dependency on benefits, and reduce their likelihood of offending. Prevista’s Youth Engagement Fund (YEF) Project operated in 10 London boroughs, helping young people to improve their attitude, skills and behaviour and preparing them for progression into work or onto further skills development and education. As a managing agent, Prevista led a supply chain of innovative grassroots delivery partners enabling them to refer young people to providers who are most suited to meet their needs. Activities included a range of tailored in and out of school activities supported through a personal career coach, including volunteering, skills and enrichment activities, group work, employment integration activities, youth applied positive psychology and work with the young person’s family. 
Start of service provision: 2015-04
Actual end of service provision: 2018-09
Maximum potential outcome payment: 11800 GBP
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 aged 14 to 17 in London, 70% of whom will be gang members, ex-offenders/at risk of offending, in care/care leavers, and those with high levels of school absence
Notes: Prevista offered a loan to the service providers to cover the upfront working capital – four service providers accepted the loan; the other eight ran the project as a PbR contract. This therefore means than an element of the project was a SIB (where Prevista provided social investment); whilst for the remainder of the project it was a PbR contract (as no social investment was used). Two local authorities provided local contributions: the London Boroughs of Waltham Forest and Croydon; the latter secured some of its contribution from the Croydon Partnership, a joint construction venture between Westfield and Hammerson, as part of its Community Plan. Prevista was also involved in the Innovation Fund.