Impact Bond: FutureImpact
Also known as: FutureU, Futures Advice
Stage of development: Complete
Policy sector: Employment and training
Social challenge: Youth disengagement, youth unemployment, youth not in education, employment or training.
Intervention: FutureImpact Coaches will work with young people with SEND and facing multiple barriers to:
• Complete an assessment and develop a Personal Action Plan, then review progress every 8-12 weeks
• To overcome problem behaviours
• Address barriers (including mental health, substance misuse, family, environmental, cultural, economic issues)
• Build capacity, resilience and confidence
• Identify ambitions/options for progress
• Achieve a range of EET (Education, Employment and Training) goals
• Sustain progression.
Date outcomes contract signed: 2018-09
Date contracts between all parties signed: 2018-05
Start of service provision: 2018-08
Anticipated end of service provision: 2023-07
Anticipated completion date: 2023-07
Total investment commitment currency: GBP
Total investment commitment: 498000
Total investment commitment (USD): 635562.73422
Maximum potential outcome payment: 3288900 GBP
Maximum potential outcome payment (USD): 4197394.129671
Configuration of the contracting parties: Direct contract between outcome payer and both provider/investors.
Target population: The goal for FutureImpact is to provide person-centred support to 16 – 24 year olds who have 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). All young people will have at least 2 Risk of NEET Indicators and will have additional risk factors and needs including exclusion, learning difficulties, mental health problems, substance misuse issues, homelessness and others.
Targeted number of service users or beneficiaries: 1000
Targeted unit type: Individual
Changes to project due to COVID-19: Switch to grant payments based on medium scenarios