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Innovation Fund Round 2

DWP has today published a contract notice stating their intent to publish the tender documents for Round 2 of the Innovation Fund on 11 January 2012.

The Innovation Fund originally announced in May 2011 is part of a package of support aimed at tackling long term structural barriers that stop some vulnerable young people from getting a job and starting their career. The Innovation Fund aims to focus on the most disadvantaged young people by supporting 14-15 year olds to participate and succeed in education or training to achieve better employment outcomes.

DWP are seeking to award three to seven contracts to Social Investment Partnerships including those that follow the Social Impact Bond (SIB) model using an intermediary.  Payments will be outcome based.  Delivery Bodies will receive funding from the Investors to cover their delivery costs in full, so the Investors are expected to bear all of the risk. 

The specification will be available on the Bravo Solutions portal on 11 January.

See the contract notice on the TED website and visit DWP site for more background information.

 

5 Jan 2012


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