Bridges Social Impact Bond Fund
Education & Skills
Date of Initial Investment
Kieran Gordon - CEO
David Howard - Operations Director / Head of Labour Market Services
David Barlow - Finance and Corporate Services Director
Joe Linnane - New Horizons Programme Manager
Challenge: Nearly one million 16-24 year olds are now classified as ‘NEET’ – not in education, employment, or training. A number of underlying issues can lead to a young person becoming disengaged. This transition can be particularly challenging if the person is a young offender, has learning difficulties or disabilities, or is in or leaving care. A period of being ‘NEET’ can lead to negative long-term outcomes, including increased changes of subsequent unemployment and poorer health outcomes. The cost to society is also huge, amounting to a bill that could total £28bn over the next decade.
Investable Solution: Career Connect is a charity providing career-focused guidance, advice and support across Greater Merseyside. The programme is a social impact bond which finances support for disadvantaged 14-19 year olds across Greater Merseyside. Career Connect coaches deliver structured ‘Mental Toughness’ courses for young people, with a focus on ex-offenders, those in or leaving care and those with learning difficulties. Career Connect also works with Business In The Community, Forum Housing, Fusion 21 and Local Solutions to provide specialised vocational support for young people on the New Horizons programme. This SIB is managed by Triodos Bank UK, who helped Career Connect to raise financing for their original proposal, and is responsible for managing the performance of the contract throughout its duration.
Outcomes: If young people on the programme improve their attendance and behaviour at school, achieve educational qualifications, and move on to further education or employment, then payments are made to the programme by the Department of Work and Pensions Innovation Fund – a £30m facility to finance outcomes payments for social impact bonds targeted at improving employment and educational outcomes for vulnerable young people.
Related News & Views
Bridges is backing two new Social Impact Bonds to be delivered by Career Connect and Teens &…Read full article 19th March 2015
Since 2012, Career Connect’s SIB-funded programme has delivered thousands of improved outcomes for vulnerable young…Read full article 14th July 2015
We are delighted to announce that the Bridges Social Sector Funds won two (out of…Read full article 5th May 2016