Certainly, and thank you for your question.
At MaRS we are in the process of developing social impact bonds. We believe that they're a great financing mechanism for an intervention that has proven to have a positive social impact on a particular outcome or challenge area, and that needs to be able to scale. In order to scale it needs the right kind of capital to do so. That scaling of that intervention would subsequently improve the outcome and reduce overall government costs for a particular area. It could be homelessness, it could be a disease, it could be children in care, or it could be recidivism.
We believe that there are many successful interventions and successful models of social impact bonds. There are currently roughly 50 to 60 that are in operation around the world in countries from Australia to the U.K., and beyond. They have a particular and focused area of work where they can be successful. I think they're also a part of a broader movement towards outcomes-based financing focused on prevention and focused on better outcomes as delivered by government funds.