One perfectly formed article today from Tracy Palandjian and Tracy Hughes with a field framework for SIBs…
A Strong Field Framework For SIBs
Tracy Palandjian & Jane Hughes – Stanford Social Innovation Review
The US Social Impact Bond (SIB) sector has entered a phase of rapid growth. Four projects are on the ground, up to 20 are in active development, and interest continues to expand among diverse stakeholders. That makes this an opportune moment to pause and assess the strengths and weaknesses of the field, and identify where we need to build capacity to successfully establish SIBs as a viable financial tool.
In this article, we will use as our guide a set of assessments developed by The Bridgespan Group called a “strong field framework.” The framework involves five components: shared identity, standards of practice, knowledge base, leadership and grassroots support, and funding and supporting policy. In the case of the young SIB market, this process provides urgently needed input to strengthen the field going forward.