So, do you think social impact bonds (SIBs) might be the way forward?
If you believe SIBs could be the solution to your problems, then it's time to start planning and designing your own.
However, we know that developing a SIB is not an easy process — that’s why we’ve collected some of the best tools and resources to help you every step of the way.
From conceptualisation through to implementation and evaluation, each stage is equipped with a catalogue of sources to guide you.
Whether you’re just starting off or are already further down the line, here’s all you need to make your SIB a success.
QUICK NAVIGATION
- Conceptualising - getting to grips with what they are and how they work
- Deciding - working out whether a SIB is the right option for you
- Designing - planning and developing your SIB
- Contracting - preparing the paperwork
- Procuring - finding a service provider
- Implementing - putting your SIB into practice and evaluating the results
1. CONCEPTUALISING
Getting to grips with what they are and how they work
Social Finance UK: A new tool for scaling impact: how social impact bonds can mobilize private capital to advance social good
A report on the potential and challenges of SIBs
OECD: Understanding Social Impact Bonds A report providing information on some of SIBs main features and challenges
Government Outcomes Lab: Social impact bonds: an overview An overview of SIBs for senior management in local authorities
Centre for Public Impact: An overview of the global Market for commissioners and policymakers
A discussion on how SIBs work, their benefits and how they compare to other funding models
Iforchange: Impact bonds
A clear and simple explanation of what social impact bonds are
UK Gov: Social impact bonds: an overview
A scenario-based animated explainer video on what social impact bonds are
Social Finance UK: Impact bond global database
An interactive database of social impact bonds around the world
Government Outcomes Lab: Impact bonds in developing countries: early learnings from the field
An overview of international SIBs including guidance on feasibility, outcome selection and contract management
Social Finance UK: SIBs The Early Years
An evaluation of how social impact bonds have developed since their launch six years ago
Government Outcomes Lab: Building the tools for public services to secure better outcomes: Collaboration, Prevention, Innovation
A report on the current state of play of SIBs in the UK
Bridges Fund Management: Better Outcomes, Better Value: the evolution of social impact bonds in the UK
A report on what we can learn from the SIBs launched so far in the UK
Instiglio: Impact Bonds Worldwide
A map and table of SIBs and development impact bonds (DIBs) that are either in design, implementation or have been completed
UNDP: Social and development impact bonds
A simple guide on how they work, SIB feasibility, advantages and disadvantages, case studies, and blogs
OECD: Social Impact Bonds: state of play and lessons learned
An exploration of the current state of SIBs
Social Finance UK: In Short: the future of SIBs
A video where experts discuss their predictions for the future of SIBs based on developments so far
Stanford Social Innovation Review: A Critical Reflection on Social Impact Bonds
An exploration of the issues facing SIBs
Brookings Institution: The Potential and Limitations of Impact Bonds: Lessons from the first five years of experience worldwide
Report analysing existing SIBs so far
Social Finance UK: SIBs The Early Years
A video where experts discuss their views on the recent report, The Early Years, about the developments in the field to date
2. DECIDING
Working out whether a SIB is the right option for you
Government Outcomes Lab: Why use SIBs
A chart outlining the potential for public service reform of SIBs for different public service challenges
UK Government: Supporting public service transformation: cost benefit analysis guidance for local partnerships
Guidance for local services across the country to assess and evaluate service transformation proposals
Government Outcomes Lab: An introduction to SIBs
An introduction to help you decide whether it is feasible to use a SIB to deliver your policy, service or intervention
Social Finance UK: A Technical Guide to Developing a Social Impact Bond: Vulnerable Children and Young People
An outline of the steps that are required to assess the feasibility of a SIB, with a focus on children’s services
Government Outcomes Lab: SIB Readiness Framework
A guide to the considerations needed at each stage of preparing a SIB
Government Outcomes Lab: The LOUD SIB Model
A report outlining the factors necessary to launch a SIB
Social Finance UK Webinar: Building the SIB value for money case
A webinar exploring the key questions when building a value-for-money case for a SIB
3. DESIGNING
Planning and developing your SIB
Bridges Fund Management: Choosing Social Impact Bonds: A Practitioner’s Guide
A guide on how to set up a successful SIB
TNL Community Fund: Developing Social Impact Bonds: A Commissioner’s Perspective
A case study report with advice on designing a SIB
Government Outcomes Lab: Directory of Social Impact Bond (SIB) Providers
A directory of companies who provide advice to developers of SIBs
New Economy: Unit Cost Database
600 cost estimates across public services in the UK that are useful for SIB development
UK Government: Knowledge Box: Guidance on Developing a SIB
A how-to on designing SIBs, from development through to procurement and evaluation
Government Outcomes Lab: Advice Surgeries
Sessions that commissioners in the UK public service can book to receive guidance on key issues in SIB development
Discover Society: Policy and Politics: how are social impact bonds created and implemented
An article outlining key findings from the research paper, Policy and Politics, which investigates how SIBs are designed
Social Finance UK: Developing a SIB financial model webinar
A webinar explaining how SIBs can be used to transfer risk to an investor when financing services
Social Finance UK: A technical guide to developing SIBs
A guide with information to help you design your SIB
4. CONTRACTING
Preparing the paperwork
UK Gov: Social Impact Bond Template Contract
A basis for new SIB contracts
UK Gov: Social Impact Bond Template Contract Guidance
Guidelines to accompany the template contract
Government Outcomes Lab: Short Guide: Contract formation
Guidance on potential contract formation hurdles
Government Outcomes Lab: Awarding the public contract in a social impact bond
An introduction to the public contract in a SIB including public procurement, contract terms, and practical issues in closing the deal
5. PROCURING
Finding a service provider
Government Outcomes Lab: Procurement Guide
An explanation of procurement options for commissioners
Government Outcome Lab: How to Guide, Procurement
Information on procurement options for governments
6. IMPLEMENTING
Putting your SIB into practice and evaluating the results
National Audit Office: Payment by results: analytical framework for decision-makers
A toolkit based on findings from previous payment by results schemes
Policy Innovation Research Unit: Evaluation of the Social Impact Bond Trailblazers in Health and Social Care, Final Report
A sample evaluation report to guide future SIBs through the process of evaluation
Government Outcomes Lab: Setting and measuring outcomes
A guide to identifying, defining and measuring outcomes for social impact bonds
Government Outcomes Lab: An introduction to evaluation
A guide to evaluating programs implementing outcome based on commissioning approaches
Government Outcomes Lab: An introductory guide to pricing outcomes
A guide for contractors and outcomes payers on pricing outcomes for social impact bonds and outcomes based contracts
French Development Agency: How should we evaluate the financial risk associated with social impact bonds?
A report with proposals on how to manage the issue of financial risk in SIBs
Social Finance UK: Balancing Evidence and Risk
A guide on how to deal with risk when designing a SIB
Urban Institute: An Introduction to Evaluation Designs in Pay for Success Projects
A guide of evaluation design options for developers of SIBs
Urban Institute: From Evidence to Outcomes: Using Evidence to Inform Pay for Success Project Design
A report outlining principles that can be used by policymakers to evaluate evidence
Social Finance UK: Designing effective outcome metrics and measurement systems
A guide on how to measure results during SIB evaluation
Social Finance UK: The value of adaption in SIBs
A video where experts discuss the importance of adapting SIB evaluations
Rand Corporation: The payment by results Social Impact Bond pilot at HMP Peterborough: Final process evaluation report
A report of the first ever payment by results pilot
Stanford Social Innovation Review: Social Impact Bonds: More Than One Approach
A study on how SIBs differ by project and location, and how this effects implementation
Harvard Kennedy School Government Performance Lab: Pay for Success Resources
A collection of case studies of pay for success schemes
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