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The idea for a White House Office for Social Entrepreneurship was first developed at the Center for American Progress by then-Senior Fellow and former Ashoka staffer Michele Jolin. [4] In the past, public monies have often been directed to social initiatives that are failing or that have only a limited impact. [5]
The social impact bond is a non-tradeable version of social policy bonds, first conceived by Ronnie Horesh, a New Zealand economist, in 1988. [13] Since then, the idea of the social impact bond has been promoted and developed by a number of agencies and individuals in an attempt to address the paradox that investing in prevention of social and health problems saves the public sector money, but ...
From 2015 to 2017, Mpower Financing revenues increased by 3,000%. [17] In 2015, the company was awarded 1st placed in Village Capital's edtech competition. [18] In February 2017, Mpower Financing was an honorable mention in the list of 20 Washington D.C. tech companies that people should watch. [19]
The Social Impact Incentives (SIINC) model is a blended finance instrument introduced for the first time in 2016. [1] In the SIINC model, enterprises are provided with time-limited premium payments for achieving social impact, [2] thus aligning profitability with their social impact and enabling them to attract growth capital. [3]
Social impact assessment (SIA) is a methodology to review the social effects of infrastructure projects and other development interventions. Although SIA is usually applied to planned interventions, the same techniques can be used to evaluate the social impact of unplanned events, for example, disasters, demographic change, and epidemics.
Notable examples of social finance instruments are social impact bonds and social impact funds. [9] Since the 2007–2008 financial crisis, the social finance industry has been experiencing a period of accelerated growth as shifts in investor sentiment have increased demand for ethically responsible investment alternatives by retail investors.
Social Finance helped develop the first Social Impact Bond project in the world in the UK in 2010, [6] a six-year social impact bond pilot scheme run by Social Finance to see around 3,000 short-term prisoners from Peterborough prison, serving less than 12 months, receiving intensive interventions both in prison and in the community. Funding ...
The Corcoran Gallery of Art: Corcoran ArtReach – As one of Washington, DC's oldest art museums and the city's only college of art and design, the Corcoran resides as the visual arts partner at THEARC through the Corcoran ArtReach program. Corcoran ArtReach is a year-round museum outreach program designed to empower DC youth and families to ...