We are advocating for a PBO mechanism for Australia’s WISE (work-integrated social enterprises) sector. We believe that this mechanism has the potential to bring social enterprise into the mainstream fabric of employment and positively impact the lives of thousands of Australians and their families.
Here are some examples from around the world of governments partnering with the private sector to achieve solutions to complex social problems.
|Example Payment by Outcome Contracts||Overview|
|New Parent Infant Network Social Benefit Bond (NSW)||Newpin NSW was Australia’s first SBB between the New South Wales Government, UnitingCare Burnside and Social Ventures Australia, aimed at safely restoring 400 children to the care of their families and preventing children from entering out-of-home care.|
|New Parent Infant Network Social Benefit Bond (QLD)||Following on the success of the Newpin model in NSW, Newpin QLD was a collaboration between UnitingCare Queensland, the Queensland Government and Social Ventures Australia. Newpin QLD sought to safely reunify 560 Aboriginal and Torres Strait Islander children in out-of-home care to their families. Newpin Qld was terminated in June 2020, before its planned maturity date. A key issue which led to its termination were challenges experienced at the Cairns Newpin Centre, which experienced significantly lower than planned enrolments of families and children.|
|Aspire Social Impact Bond (SA)||Under the Aspire service model, the South Australian Government, Social Ventures Australia and Hutt Street Centre seek to provide stable accommodation, job readiness training, pathways to employment and life skills development to 600 adults experiencing homelessness.|
|Sticking Together Social Impact Bond (NSW)||The Sticking Together Social Impact Bond provides an intensive 60-week coaching program for 800 young people facing barriers to employment to get ready for work and, importantly, develop life skills that enable them to stick with their jobs. The Bond is supported by the New South Wales Government, Social Ventures Australia and SYC.|
|Educate Girls Bond (India)||The Educate Girls Development Impact Bond reached 7,300 children in Bhilwara, Rajasthan to improve learning outcomes and increase enrolments in 166 schools between 2015 and 2018. The Bond was a partnership between UBS Optimus Foundation, Educate Girls, Children’s Investment Fund Foundation and ID Insight.|
|Social Impact Bond Pilot at HMP Peterborough (UK)||Between 2010 and 2015, an intervention called the One Service provided through-the-gate and post-release support to adult male offenders released from HMP Peterborough who had served prison sentences of less than 12 months. The aim of the pilot was to reduce re-offending rates, and was a result of a partnership between the Ministry of Justice, the Big Lottery Fund and service providers under One Service.|
Contact the team today for more information.
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