Homelessness is a major issue in Canada—it affects 200,000 people every year and costs $7 billion to the economy. Alternative funding mechanisms in the form of a social impact bond (SIB) could help mobilize capital to address homelessness. By combining success-based payments and initial private investment, social impact bonds have the potential to overcome barriers to social innovation and encourage investments in services.
MaRS is tackling homelessness head on by issuing a request for proposals to qualifying entities intent on solving this complex issue. The deadline for applications is April 27, 2015 at 5:00 p.m. EST.
Successful applicants will receive pro bono assistance from MaRS—with the support of the United Way Innovation Fund—in creating a homelessness social impact bond. MaRS services to the successful outcome payer will include defining the target population, setting the social impact goals and pricing them, as well as engaging partners and investors.
Any Canadian entity or partnership (including all levels of government, foundations or corporations) with:
Following the submission deadline, applications will be reviewed and evaluated based on the above criteria.
Email: Samer Abughannam at firstname.lastname@example.org.
Please review the Housing First Social Impact Bond Feasibility Study, then complete & email this form to email@example.com.
April 27, 2015 at 5:00 p.m. EST