After launching the Chances in the height of the pandemic last October, one year on the programme is in full swing. 16 Delivery Partners are providing sport, physical activity and alternative opportunities to young people across 21 local authorities, making Chances the largest social impact bond in the world.
The social investment arm of The Big Issue, Big Issue Invest (BII) has invested £1.25 million into the programme that will target over 6,000 young people from low socio-economic backgrounds who have an offending record and/or low school attendance to improve their attendance at school, reduce their offending behaviour and improve NEET status, as well improve levels of physical literacy.
Successful achievement of outcomes are paid for by Sport England, local authorities and DCMS’s Life Chances Fund. This is the first time Sport England have commissioned outcomes through a Social Impact Bond (SIB).
To date over 1,500 young people have been referred to the programme and are engaged in a wealth of different activities including football, boxing, first aid training, ski instructor training, outdoor recreation, one to one mentoring and a range of work experiences.
To find out more about the Chances Social Impact Bond please contact Sangita.Patel@Substance.net