Project
| ID | INDIGO-POJ-0219 |
|---|---|
| Impact Bond Name - (Value) | Side by side |
| Stage of Development - (Value) | Implementation |
| Social Investment Prototype - (Value) | NO |
| Dates - Date outcomes contract signed - (Value) | 2020-10 |
| Dates - Date contracts between all parties signed - (Value) | 2020-12 |
| Dates - Anticipated completion date - (Value) | 2027-03 |
| Dates - Start date of service provision - (Value) | 2021-01 |
| Dates - Anticipated end date of service provision - (Value) | 2025-12 |
| Dates - (Source ID's) | source1, source2 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 5000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 5000000 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | USD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 14900000 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 14900000 |
| Overall project finance - Configuration of the Contracting Parties - (Value) | Direct structure |
| Purpose and classifications - Social challenge - (Value) | A small but significant proportion of school age students in Victoria struggle to connect with and engage at school. On average, educational outcomes for students from socio-economically disadvantaged backgrounds are significantly lower than students from more advantaged backgrounds. Students from disadvantaged backgrounds tend to be more vulnerable on standard Australian Early Childhood Development scores and have lower literacy, numeracy and comprehension levels, and lower school attendance and retention rates. School attendance data in Victorian schools indicates that Aboriginal children are absent from school at a much higher rate than the rest of the student population. |
| Purpose and classifications - Intervention - (Value) | The Side by Side SIB will fund the working capital of the Side by Side Program, an intensive 12-month program designed to improve the engagement and learning outcomes of students in Years 1 to 4. The Program combines student and family therapeutic support in the home, educational case management at school and professional learning and mentoring for teachers delivered through a whole-of-school transformation process. |
| Purpose and classifications - Policy sector - (Value) | Education |
| Service and beneficiaries - Target population - (Value) | Vulnerable primary school students with priorty given to Aboriginal and Torres Strait Islander students |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 300 |
| Service and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Individual |
| Delivery Locations 1: Service Provision ID - (Value) | servicedelivery1 |
| Delivery Locations 1: Location - Name - (Value) | Victoria |
| Delivery Locations 1: Location - Country - (Value) | AU |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -37.0201 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 144.9646 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Social Ventures Australia website visited on 05/10/2021: https://www.socialventures.com.au/work/side-by-side-sib/ |
| Sources 1: Type - (Value) | Website |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Email correspondence with Social Ventures Australia on 28/07/2021 |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1252 |
| Service Provisions 1: Organisation Role Category - (Value) | Nonprofit/NGO |
| Service Provisions 1: Intervention - (Value) | The Side by Side Program is an intensive 12-month program designed to improve the engagement and learning outcomes of students in Years 1 to 4. The Program combines student and family therapeutic support in the home, educational case management at school and professional learning and mentoring for teachers delivered through a whole-of-school transformation process. |
| Service Provisions 1: Notes | The Side by Side program will be delivered by Berry Street, a not-for-profit organisation focussed on delivering out-of-home care, case management and family services in Victoria. The program will place focus on working with Aboriginal and Torres Strait Islander students. Berry Street will subcontract the Victorian Aboriginal Child Care Agency to provide culturally specific awareness and capacity building training for school staff and individual educational and therapeutic support services for Aboriginal and Torres Strait Islander students and their families. |
| Service Provisions 2: Id | serviceprovision2 |
| Service Provisions 2: Organisation ID - (Value) | INDIGO-ORG-1253 |
| Service Provisions 2: Organisation Role Category - (Value) | Nonprofit/NGO |
| Service Provisions 2: Intervention - (Value) | The Side by Side Program is an intensive 12-month program designed to improve the engagement and learning outcomes of students in Years 1 to 4. The Program combines student and family therapeutic support in the home, educational case management at school and professional learning and mentoring for teachers delivered through a whole-of-school transformation process. |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1345 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | USD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 14900000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-1254 |
| Investments 1: Investment Commitment - Currency - (Value) | USD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 5000000 |
| Investments 1: Maximum Potential loss - (Value) | 30% of capital |
| Investments 1: Maximum Potential Return - (Value) | Maximum 9.9% p.a. return. 1.5% p.a. for first 5.25 years, year 6 dependent on outcomes. Target 6.0% p.a. return. |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0013 |
| Intermediary services 1: Organisation Role Category - (Value) | Impact bond design |
| Intermediary services 1: Other Role Description - (Value) | All roles except performance management, which is the role of government. |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-1255 |
| Intermediary services 2: Organisation Role Category - (Value) | Legal counsel |
| Intermediary services 2: Other Role Description - (Value) | Acting for Social Ventures Australia |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Reduction in the number of days that students are absent from school. |
| Outcome Metrics 1: Target Population - (Value) | Vulnerable primary school students with priorty given to Aboriginal and Torres Strait Islander students. |
| Outcome Metrics 1: Targeted number of service users Or beneficiaries (total) - (Value) | 300 |
| Outcome Metrics 1: Unit type of targeted Service users or beneficiaries - (Value) | Individual |
| Outcome Metrics 1: Outcome metric target - (Value) | 22% reduction in the number of days that students are absent from school. |
| Outcome Metrics 1: Outcome validation Method - (Value) | Historical comparison |
| Outcome Metrics 1: Data source for Outcome validation - (Value) | Existing administrative data |
| Outcome Metrics 1: Policy sector - (Value) | Education |
| Outcome Metrics 1: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 1: Primary SDG target - (Value) | 4.1 |
| Outcome Metrics 1: Notes | Data sources include data from Victorian Government. |
| Documents 1: Title - (Value) | Information Memorandum - Side by side SIB |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/Side-by-Side-Social-Impact-Bond-Information-Memorandum_November-2020.pdf |