Pipeline
| ID | INDIGO-PL-0128 |
|---|---|
| Project Name - (Value) | Mutual Success Programme for Digital Employment |
| Contact - Name - (Value) | Kevin Dubon |
| Contact - Email - (Value) | kevin@elevate.digital |
| State of Development - (Value) | Current |
| State of Development - (Source ID's) | source1 |
| Stage of Development - (Value) | Late stage |
| Stage of Development - (Source ID's) | source1 |
| Stage of Development - (Notes) | Late-Stage Design |
| Type of instrument and project - Impact Bond - (Value) | No |
| Type of instrument and project - Outcomes Fund - (Value) | No |
| Type of instrument and project - Social Impact Incentives (SIINC) - (Value) | Yes |
| Type of instrument and project - Social Impact Guarantee - (Value) | No |
| Type of instrument and project - Payment-by-results (no pre-financing) - (Value) | Yes |
| Type of instrument and project - Technical Assistance and Market-building program (Must involve dedicated grant resources) - (Value) | No |
| (Source ID's) | source1 |
| Rationale for using outcome based finance - (Value) | The Income Share Agreement (ISA) model, coupled with the Mutual Success Fund, not only reduces financial barriers for learners but also ensures a self-replenishing fund through graduate contributions. This model mitigates financial risk for students and maximizes their return on investment. To scale the program, we envision forming alliances with educational institutions, industry partners, and governments. By integrating our curriculum into existing learning structures and collaborating with employers. Financial sustainability is embedded in the program's design. As graduates' earnings increase, the Mutual Success Program is bolstered, enabling continuous access for new learners. This self-sustaining cycle minimizes dependency on external funding sources. By tailoring curriculum to meet industry demands, we ensure that learners acquire directly applicable skills, optimizing their employment prospects. Scale-up would involve leveraging successful outcomes and expanding partnerships. The sustainable funding model, combined with industry integration and adaptable curriculum will grow organically while maintaining its cost-effectiveness and positive impact. |
| (Source ID's) | source1 |
| Key challenges to launch - (Value) | The project faces key pain points in hindering progress as, securing sustainable funding for the Income Share Agreement (ISA) model and launching the Mutual Success Program is a hurdle and forming partnerships with employers and experts taht is vital for program success. Wiith the backing of an accelerator, we can access expertise in fundraising and financial modeling to solidify our funding strategy. This guidance will help us secure the necessary investment to launch and sustain the ISA model, enabling students to join without upfront costs. Moreover, the accelerator's network and resources will assist in forging partnerships with industry leaders and employers. This support will help tailor our curriculum to current job market demands and secure internship opportunities for students, increasing program effectiveness and employability outcomes. Overall, the Accelerator's mentorship, expertise, and connections will help navigate these pain points, ensuring a more robust financial foundation and establishing meaningful industry collaborations. |
| (Source ID's) | source1 |
| Purpose and classifications - Social/Developmental challenge - (Value) | The Elevate program targets critical market failures that hinder equitable access to education and workforce development. Firstly, traditional education systems often struggle to adapt swiftly to evolving industry needs, resulting in a skills gap that leaves many job-seekers unprepared for employment. Secondly, financial barriers limit access to education, preventing individuals from upskilling and securing better opportunities. Thirdly, the lack of alignment between education costs and employment outcomes can lead to student debt without commensurate career advancements. Our programs address these failures by offering industry-relevant, up-to-date training that directly responds to market demands. This model tackles financial barriers, enabling learners to join courses without upfront expenses, creating an equitable opportunity for all. We ensure educational investments are justified by career success, getting tangible results. The program's innovative design responds to these market failures by generating a relationship between education and employment and meeting the demands of a rapidly changing job landscape. |
| Purpose and classifications - Expected intervention model - (Value) | The Mutual Success Program is an OBF initiative aimed at democratizing access to quality education and enhancing employability. Through this project, individuals can enroll in our training programs without any upfront costs by opting for Income Share Agreements (ISAs). After completing their training and securing employment, graduates commit a small percentage of their earnings to the program. In order to guarantee better employment options for students, the training they receive before the job placement stage is oriented to exponential growth industries, to which there is poor access in local education and which offer better earnings such as Data Analytics, AI tools and web development. This program functions as a self-sustaining fund that fuels the education of new students. As employed graduates contribute a portion of their salaries, this cyclical model ensures ongoing access to education for others. This lowers financial barriers for learners but also aligns their success. By linking tuition payments to post-training outcomes, we promote accountability and positive outcomes for both Elevate and students. This promotes an ecosystem where education is a shared investment, breaking down financial barriers to education through strategic partnerships and a scalable model. |
| Purpose and classifications - Policy sector - Employment and private sector development - (Value) | Yes |
| Purpose and classifications - Policy sector - Education - (Value) | Yes |
| Purpose and classifications - Policy sector - Social protection - (Value) | No |
| Purpose and classifications - Policy sector - Criminal justice - (Value) | No |
| Purpose and classifications - Policy sector - Health - (Value) | No |
| Purpose and classifications - Policy sector - Agriculture - (Value) | No |
| Purpose and classifications - Policy sector - Environment and climate change - (Value) | No |
| Purpose and classifications - Policy sector - Water, Sanitation and Hygiene - (Value) | No |
| Purpose and classifications - Policy sector - Energy - (Value) | No |
| Purpose and classifications - Policy sector - Humanitarian - (Value) | No |
| Purpose and classifications - Policy sector - Early Childhood Education - (Value) | No |
| Purpose and classifications - Primary SDG goal - (Value) | 1,4,8 |
| Purpose and classifications - (Source ID's) | source1 |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - Low-income - (Value) | No |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - Lower-middle-income - (Value) | Yes |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - Upper-middle-income - (Value) | No |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - High-income - (Value) | No |
| Service users and beneficiaries - (Source ID's) | source1 |
| Notes - (Value) | Data for this pipeline project was last updated in August 2023 |
| Delivery Locations 1: Location - Name - (Value) | Honduras |
| Delivery Locations 1: Location - Country - (Value) | HN |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Data shared by key stakeholders of the project through March 2024 Levoca questionnaire |