Deze video gaat over Speech Kate Raworth
The companies involved are CTalents, Fladderfarm Mobiel, Refugee Team and Stichting Sarban de Toekomst. The investors Oranje Fonds, Stichting DOEN and the Rabo Foundation also committed their support by signing the contract.
Investment
The Provincial Government of Noord-Brabant is the first Dutch government body with an Outcomes Fund, a fund investors can earn back their investment with, if they contribute to achieving societal results in collaboration with entrepreneurs. The latter four were chosen after an arduous selection process.
Member of the Provincial Executive Marianne van der Sloot: “A growing number of private partners are also looking to increase impact. These 3 investors are committing to their intentions, it’s about more than the returns on investment for them. It’s fabulous that Oranje Fonds, Stichting DOEN and Rabo Foundation share this dream with us and want to step up to the plate with us.”
Risk
Van der Sloot: “Our fund is based on results-based financing. The point of departure being a societal issue whereby not only financial success or savings are valued, but also the societal impact and sustainable results. The fund only pays out if the results have actually been achieved. This means that, basically, the investor bears the risk and that they can influence their results. They are prepared to take the risk, and to supervise and coach businesses to achieve their societal impact.”
A growing number of social entrepreneurs are working on the meaningful economy: an economy that centres on creating societal value and doing the right thing. This is done with a financially viable company with solutions found at the intersection between public and private tasks. Social Finance NL and Social Impact Factory supported the provincial government in its search for a good tool for shaping the above.
Societal impact
The BOF’s methods are based on the social impact bonds (SIBs) funding model: public-private results-based financing. An SIB is a contract whereby private investors fund an approach devised by social entrepreneurs such as, for instance, supervising status holders in their search for work. In this way they help increase the societal impact. Once the results have been achieved, the government pays the investors back and pays out their returns.
This is emphatically not about privatising societal issues, but all about public-private cooperations whereby funds are utilised to create societal yields for vulnerable people. The provincial government continues to direct this partnership by determining the goals to be achieved, the target group and the way the latter two aspects will be measured. This always takes place in consultation and cooperation with the other parties involved.
€ 1 million has been made available for the pilot in Brabant.