Uplifting Youth-at-Risk Through Pay for Success: The First Social Impact Guarantee (SIG)
Tri-Sector Associates is an end-to-end impact firm, which structures collaboration models and incentives to crowd in ground-up solutions and catalytic capital for measurable outcomes. In 2021, they worked with the YMCA of Singapore to launch a Social Impact Guarantee (SIG), promising a money-back guarantee if the Vocational and Soft Skills Programme (VaSSP) did not achieve the desired outcomes.
By the end of the programme, the YMCA had placed 56 youth-at-risk in employment or education – 10 more youth than the benchmark rate based on the past 5 years of the programme. Over the 20 months, this partnership harnessed the strengths of the people, public and private sectors towards demonstrating how new funding models like the SIG can lead to better outcomes for society.
This case study highlights the unique value proposition of the SIG, the capacity-building process, and some benefits of such innovative and collaborative social impact funding models in Singapore.
Read more here.