Sticking Together Social Impact Bond
The Sticking Together Social Impact Bond was Australia’s first SIB addressing youth employment.
The Sticking Together SIB launched in December 2018, offering investors the opportunity to generate a financial return whilst helping young people who are experiencing disadvantage find jobs and keep them.
The Sticking Together Project is an intensive 60-week coaching program that supports young people to get ready for work and, importantly, develop life skills that enable them to stick with their jobs.
The Sticking Together Project is delivered by SYC, a highly experienced non-profit service provider that has delivered employment, training, housing and wellbeing services to young people for 60 years. SYC developed the Sticking Together Project and has piloted it in three States.
The program works with young people aged 18 to 24, who are currently unemployed and have high barriers to employment, such as a disability or mental health challenges, a criminal conviction or lack of a permanent home. The program finds ways to improve each young person’s connectedness, motivation and personal self-worth through the lens of home, health and relationships, and also provides support to their employers.
The impact of bushfires and then Covid-19 from early 2020 made it increasingly difficult to deliver the Sticking Together Project under an outcomes-based contract and social impact bond funding arrangement. The uncertain economic environment in 2020 made it challenging for the program to achieve planned employment outcomes. As a result, the Sticking Together SIB arrangement was terminated early. The Sticking Together Project continues to be delivered under an alternate funding arrangement between the NSW Government and SYC.
The Sticking Together SIB structure
Please note the Sticking Together SIB is now closed for investment. For further details please refer to the following documents:
- Sticking Together Information Memorandum (non-offer version)
- Sticking Together SIB Deed Poll and Purchase Deed
Reports from the evaluation of the Sticking Together Project are available.