On the macro, the Victoria state government looks to revamp educational advantages with a SIB in Australia while a deaf focussed charity in the county of Worcester, England looks forward to its own SIB programme.
I hope all readers had a wonderful Memorial Day weekend and indeed enjoyed the pulsating 100th Indy 500.
Proposed New Scheme Calls For Investors In Social Good In Victoria
Benjamin Preiss – The Age
Private investors would stand to profit by backing successful programs tackling social disadvantage under a proposed new scheme.
Under the social impact bond program, investors would bear the financial risk for funding the projects.
They would receive dividends generated through savings for the Victorian government if the projects met or exceeded agreed goals.
The NSW government has already introduced social bonds to fund services, while similar schemes have been adopted by governments in the US and UK.
Now the Victorian government is moving towards launching a similar scheme, setting aside $700,000 in the latest budget to investigate the concept.
Government Minister Visits Charity Which Helps Deaf People After Funding Boost
Sebastian Richards – Worcester News
Civil society minister Robert Wilson visited Deaf Direct in Lowesmoor, Worcester, after it received more than £70,000 funding from the Local Sustainability Fund.
The money will help shape future services by making the charity a domiciliary care provider, as well as hiring a specialist manager and a marketing officer.
Deaf Direct provides deaf awareness training to organisations to help improve access for people with hearing impairments.
Mr Wilson said: “Deaf Direct’s commitment to people with hearing loss in Worcester was inspiring to see.
“I was delighted to meet the team and was thrilled to see how they are reaching out to new markets and building a platform for the future with a Social Impact Bond.”
The minister was joined by Worcester MP Robin Walker as well as Mark McGann, deputy director, Knowledge Sharing and Policy (BIG Lottery Fund) and Helga Edstrom, Office for Civil Society and Innovation Local.
The Local Sustainability Fund has awarded funds from small to medium-sized high-impact voluntary, community and social enterprise (VCSE) organisations.
It is delivered by the Big Lottery Fund and paid for by the Cabinet Office.