The Cabinet Office’s Social Outcomes Fund and the Big Lottery Fund’s Commissioning Better Outcomes fund have a joint mission – and £60m – to support the development of more social impact bonds and similar investments.
The Local Government Association (LGA) and Social Finance have been appointed by the Big Lottery Fund to assist those interested in developing a social impact bond to put together an initial proposal and submit a formal Expression of Interest to these two funds. As part of this, public sector bodies (generally local authorities) - can ask for between £10,000 and £150,000 of development funding to purchase technical support to develop a social impact bond.
iforchange is on the database of suppliers of technical assistance for organisations that successfully pass the Expression of Interest stage. Technical assistance after this stage could include, for example:
Although the LGA and Social Finance will be in place to assist with submitting Expressions of Interest, please do feel free to contact us too for an independent point of view without obligation.