Energise is a Social Impact Bond working with young people in the Thames Valley area. It is part of the Department for Work and Pensions' Innovation Fund.
There are more than three-quarters of a million unemployed young people in the UK today. Young people who have been excluded from school or have not achieved adequate GCSEs are more likely to fail to make the transition into work, training or further education
Adviza runs the Energise programme which supports vulnerable 14-15 year olds. Through one-to-one mentoring, group work and residential courses, the young people are given tailored support to help them make the transition from education to employment.
Energise is funded through a Social Impact Bond. Repayment is under a “payment-by-results” contract with the Department of Work and Pensions, out of long-term savings to the public purse of reducing youth unemployment. Social investors take the financial risk, providing the up-front funding in the knowledge that their returns will only be made if the intervention achieves specified targets.
The Energise project improves attendance, attitude, and behaviour at school, as well as improving GCSE results and routes into employment. In the first year of the programme over 600 young people were referred from 35 schools.
The best thing about coming to Energise is gaining more confidence and making new friends.
Luke, Energise Programme Participant
Adviza really stood out because their delivery model put the young person at the centre and most importantly it evolved and changed depending on their risk of not being in education or employment.
Dan Miodonvik, Associate at Social Finance