The Department for Culture, Media & Sport has launched a new funding round under the Life Chances Fund.
Funding is available to local commissioners and service providers to support the development of Social Impact Bonds focused on helping children and young people.
Social Impact Bonds channel the funding made available through the Life Chances Fund into interventions to tackle social issues. Investors pay for the project at the start, and then receive payments based on the results achieved by the project.
This funding round will focus on supporting the Early Years theme and aims to support children from pre-birth to 5 years-old, who are at risk of poor education and health outcomes; and the young people theme which will focus on reducing the risk of negative, social, economic and health outcomes amongst disadvantaged young people aged 11-24.
Expressions of interest for funding from the Life Chances Fund for Early Years and Young People are due by 31st March 2017.