Social Impact Bonds
How to submit a Social Impact Bond idea to be considered for a new pilot project in development in Ontario.
What are Social Impact Bonds?
Social Impact Bonds, and other innovative pay-for-performance social finance tools, bring together diverse sectors of society – governments, corporations, private investors, foundations, service providers and social enterprises – to create novel solutions to pressing social challenges.
Through a Social Impact Bond, private investment is used to finance these interventions upfront, which are delivered by service providers with a proven track record.
Provided that the agreed upon social outcomes and savings to government are achieved, financial returns to investors are paid by government.
Social Impact Bonds do not replace current government funding or existing programs that Ontarians rely upon.
They are an innovative way of attracting private and philanthropic investment to support outcomes-based social interventions that benefit communities.
Focus areas for proposals
We are looking for innovative, prevention-oriented ideas and solutions that address one or more of the following high-priority social policy challenges:
- improving employment opportunities for persons facing barriers
Your proposal must focus on at least one of these areas.
How to submit an idea
To submit a proposal:
- download and complete the Social Impact Bond submission form
- provide a brief synopsis of your idea
- include your contact information
May 2, 2014
May 2, 2014: Submissions are due.
Spring 2014: Workshops offered to help people and organizations further refine the ideas they have submitted. Identify the ideas with the highest potential to be part of the pilot.
Summer 2014: High-potential ideas selected to proceed to the next stage, which involves developing a detailed business case and financial modeling and testing in the lead up to launch.