The federal government will partner with the states and territories and other stakeholders to trial social impact investing (“SII”) to determine the effectiveness of outcomes-focused investing in improving housing and welfare for young people.
From 2017/18, the government will invest $10.2 million over 10 years to trial the use of social impact investments aimed at improving housing and welfare outcomes for young people at risk of homelessness. This additional funding includes $8 million over four years to establish an SII Readiness Fund to help organisations build their skills and capabilities to develop projects and business plans for SII opportunities.
The funding also includes $12.2 million for additional trials of investments in partnership with the states and territories, and to facilitate data sharing and improved outcomes measurement.
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