Status of Women committee  The best example of innovation in a social impact bond is the ability to free up a non-profit service deliverer like Sweet Dreams to run their program without having to report on the activities they're doing month by month and year by year. In the construct of a social impact bon

Status of Women committee  Sure. I think the first point I'd like to make is that a social impact bond shouldn't be thought of as a blunt instrument that will solve a social problem. The core principle of a social impact bond is to actually wrap support around individuals and give them the support they nee

Status of Women committee  Sure. I'll try to concisely bring this to life. A social impact bond is a new partnership agreement between government and a non-profit organization, and this agreement is based on the covenant that the organization will deliver on an outcome that government seeks to achieve. It

Status of Women committee  It's too early to come to that conclusion. As a sector, as a market, we're trying to figure that out. Don's example in Saskatoon is one that is in the spotlight. Heart and Stroke, as I mentioned, is going to be launching its intervention in a couple of weeks. Canada only has a fe

Status of Women committee  Thank you, Chair. Good afternoon, members and members' staff. I represent the MaRS Centre for Impact Investing at MaRS Discovery District in Toronto. We partner with governments, non-profits, and investors to direct capital to social problems. We advise governments on how to de

Public Safety committee  I'll reiterate that I don't think we want to reinvent the wheel here. I don't think we need to find the silver bullet intervention that's going to solve all of our problems. I think we need to start small and find an intervention that we know is working. There are a couple of abo

Public Safety committee  I think because the model is so new, there are a lot of ideas floating around, whether within governments or in the social sector generally. Ideas are great, but I think at some point we have to get to the point where we can prove or disprove the model's utility. For us, we're

Public Safety committee  I don't know if I'm going to say anything more than what you just said, but maybe I can provide a little bit of colour. Every year I speak at the aboriginal trust and endowment conference. I think I'm getting the right name on that, and I hope I am. This is essentially a group of

Public Safety committee  Sure. Really, there are probably two current ways that people can go about developing a social impact bond or some sort of social finance arrangement. There could be what we call the top-down approach where you know that the SNAP program works, but you may not have the money that

Public Safety committee  I would just echo Sarah's statements about how governments can increasingly look at a range of different tools to deploy. Increasingly there is going to be a need to have grant or philanthropic money being used to fund innovative programs, and that may be where you would like to

Public Safety committee  I think that was great, Sarah. Those were the three areas where it could have implications: health and justice, as well as employment down the road.

Public Safety committee  In a previous life I did some work on aboriginals. I think there's a real opportunity to focus on real outcomes in this area. I would love to do more studies on how we can channel new sources of capital and how we can align interest among different parties to improve outcomes for

Public Safety committee  Somebody needs to. We have a very small team. We're a burgeoning group trying to figure out how to make this work in the Canadian context. I think, increasingly, there are going to be those types of organizations that are patching together the organizations like you're describing

Public Safety committee  At MaRS we've been working on social impact bonds, or social finance models, for a few years now. I think what fascinates me the most is that this conversation about this tool has created a conversation about new forms of partnerships. So we get a range of different types of peop

Public Safety committee  Thank you for that New York example. One of the things we're looking at in terms of the social impact bond is its ability to tackle an issue in a very holistic way. You listed literacy. You listed the transient nature of these individuals being in the community. Then you listed