For the first round we specified three sustainable development goals to work towards, namely positive health and well-being for people of all ages (SDG 3), suitable work for everyone (SDG 8) and equal social, economic and political opportunities (SDG 10).
The financing structure of the first BOF round was based on working capital in the form of social impact bonds. Our aim was not just to achieve financial savings, but actually to have a societal impact. The financiers that provided the working capital during the first round were Stichting DOEN, Oranjefonds and the Rabo Foundation.
The businesses involved are currently working to achieve the agreed qualitative and quantitative results. The implementation phase of this round is going to end in 2022. During the course of the implementation phase the results are being monitored and evaluated. The monitoring is being done by two independent impact agencies: Avance-impact and Sinzer.
If the agreed results have been achieved, the provincial government will repay the working capital to the investors.
4 promising businesses
Businesses that wanted to scale up their multiple value in Brabant were invited to register for the Brabant Outcomes Fund just before Christmas 2018. There turned out to be a considerable amount of interest and 82 businesses registered!
Following a detailed selection programme, the five selected businesses were announced on 21 February 2019. They were invited to develop their business plans in more detail. Together with a team of civil servants from the provincial government, investors and advisers in the field of impact measurements and result contracts, they investigated whether result financing would be a good solution for scaling up.
- Stichting Sarban de toekomst runs various restaurants where they offer training and job opportunities to refugees who are finding it difficult to access the labour market. Watch the Sarban video.
- Ctalents uses coaching and resources to help people with a sensory disability find work. A significant percentage of this target group is, in fact, unnecessarily unemployed. Watch the Ctalents video.
- Samen Slim Zorgen Thuis focuses on elderly people who live in villages and need help. They are invited to contribute to healthcare training provided to vulnerable young people and people who find it difficult to access the labour market. Watch the Samen Slim Zorgen Thuis video.
- Refugee Team helps refugees find long-term work by supporting them with their personal and professional development, for example by using sports events. Watch the Refugee Team video.
4 contracts
Four businesses and three investors jointly signed four result contracts on 3 July 2019. The businesses included Ctalents, Fladderfarm Mobiel, Refugee Team and Stichting Sarban de Toekomst. The Oranje Fonds, Stichting DOEN and the Rabobank Foundation are members of a foundation of investors which was specially set up for this purpose. The businesses therefore did not conclude a contract with the individual investor. The subsidy agreements with the provincial government were also made with the foundation.
Of the five selected businesses, no agreement was concluded with Samen Slim Zorgen Thuis. This was because one member of the coalition withdrew at the last moment.
Network
Parallel to the process with the five selected businesses, a network was created of passionate entrepreneurs who are making a valuable impact in Brabant. Various workshops and events have been organised together with Stérk.Brabant. We are encouraging the sharing of knowledge, the exchange of ideas and discussions between businesses, investors and civil servants.
Would you like to find out more?
If so, please read the magazine!