Brabant Outcomes Fund starts with five social entrepreneurs
The Brabant Outcomes Fund helps five entrepreneurs who contribute to an inclusive society to increase their impact and make it visible. These are CTalents, FladderFarm mobile, Samen Slim Zorgen Thuis and two initiatives in Tilburg, Stichting Sarban de Toekomst and Refugee Team.
This was announced during the launch of the fund on Thursday 21 February in the Willem II in 's-Hertogenbosch. The province of Noord-Brabant is the first Dutch government to have an Outcomes Fund, a fund where financiers can earn back their investment if they contribute to achieving social results. Commissioner Henri Swinkels: "More and more private partners are also looking to increase their impact. They are therefore also investing in the social impact. This is more important to them than the return on investment. A development that we are following with interest, and to which we want to contribute with this fund."
A growing number of social entrepreneurs are working on the meaning economy: an economy in which the creation of social value and conscientious action are central. This is done by means of a financially profitable enterprise, in which solutions are found at the interface of public and private tasks.
Swinkels: "The basis of our fund is result-based financing. The starting point for this is a social issue, in which not only financial success or savings are valued, but also social impact and sustainable results. The fund only pays out if it actually achieves results.
No fewer than 82 social enterprises have applied for the pilot, five of which will receive intensive support in the coming period. For the other entrepreneurs, a less intensive process is available.
The operation of the BOF is based on the financing model of the social impact bonds (SIBs): public/private result financing. An SIB is a contract in which private investors invest in an approach to social entrepreneurs, such as guiding status holders to work. In this way, they help to increase the social impact. Once the results have been achieved, the government pays the investors back with a return.
This is emphatically not about privatising social issues, but about a public/private partnership in which money is used to achieve social returns for people in a vulnerable position. In this partnership, the province remains the director, by determining the objectives to be achieved, the target group to be reached and the way in which measurements are taken. This is always done in consultation and cooperation with the other parties. One million euro is available for the Brabant pilot.
Sarban de Toekomst Foundation and Refugee Team
As mentioned before, two of the five initiatives originated in Tilburg! Of course we are very proud of this! The Refugee Team is active at many sporting events in Tilburg to bring refugees into contact with the inhabitants of the city and the Dutch working mentality. Earlier this year they were present at the Tilburg Ten Miles. The Refugee Team also won the Ignite Award in 2018!
The Sarban de Toekomst Foundation offers opportunities to refugees with a distance to the labour market so that they become self-reliant, where participation and development in the hospitality industry is central. Rabia Alizadah of Stichting Sarban de Toekomst gave her vision about Tilburg in an earlier item on our site.