Social Impact Bonds

What is the process for Developing a SIB?

In the short term, Manitoba will design and launch a landmark SIB to help children and families who are in contact with, or are at risk of being in contact with, the child welfare system. In the medium term, Manitoba will design and launch other SIBs as part of a SIB strategy. Manitoba has hired MaRS Centre for Impact Investing to assist as it develops the landmark SIB and writes the SIB strategy.

Steps to the Landmark SIB

  1. Invitation for concepts:MaRS will invite concept ideas from service providers that would like to deliver Manitoba's landmark SIB. MaRS will solicit concept ideas that describe child welfare-related outcomes.
  2. Select a concept:Manitoba will select one concept idea based on its priority of serving vulnerable Manitobans. The selected service provider will work with Manitoba and MaRS to design the landmark SIB.
  3. Design the landmark SIB:Manitoba, MaRS and the service provider will develop the details of the landmark SIB, such as the program's participants, duration, outcomes and evaluation method.
  4. Raise investor money:MaRS will secure investors to lend to the service provider. The loan will pay the program's costs. Manitoba will pay the investors back to the degree the program meets its outcome targets.
  5. Launch the landmark SIB:Manitoba will announce the landmark SIB and the service provider will deliver the program.
  6. Measure results:The service provider will report its results and an evaluator will check those results. Manitoba will pay the investors to the degree the service provider has met its outcome targets