Social Impact Investing Program Evaluation Final Report

This document is a final report evaluating the Social Impact Investing (SII) program conducted by Urbis for the Department of Social Services. The report outlines the Australian Government's ongoing exploration of SII as a means to address complex social issues through innovative funding models. It details the objectives of four trials funded by the Department, aimed at improving understanding and capacity within the SII sector. The evaluation methodology included document reviews, stakeholder interviews, and workshops to gather insights. Key findings highlight the importance of high-quality data for outcomes-based contracting, the necessity of specific skill sets for managing such contracts, and the role of government in mobilizing private resources. The report emphasizes the need for innovation and flexibility in performance targets to encourage effective outcomes. Additionally, it discusses systemic constraints and cultural perceptions that may hinder the implementation of SII initiatives. Overall, the report serves as a comprehensive assessment of the trials and offers recommendations for future engagement with the SII sector.