Location:
Objective of the practice:
Increase capacities for the delivery of services of general interest in changing society.
Subtopics of the practice:
Address NEET’s and senior’s needs by introducing innovative solutions, such as social impact investments, social impact bonds and a Social Impact Investing Hub for knowledge sharing, policy coordination.
Geographical scope of the practice:
Alpine Regions
Short summary of the practice:
The aim of the AlpSib project is to accelerate new investment models in the Alpine Space, called Social Impact Investments and Social Impact Bonds, through the development of policies in the field.
Detailed information on the practice:
The primary goal of the practice is to address growing societal challenges through social innovation, establishing a new social economy that connects the public, private, and third sectors. The AlpSib project specifically focuses on the needs of NEETs and seniors by introducing innovative solutions such as social impact investments, social impact bonds, and a Social Impact Investing Hub for knowledge sharing and policy coordination. The idea for this practice originated from the challenges faced by the Alpine Space, including an ageing population, youth unemployment rates, and increasing strains on budgets. These issues necessitate innovation within the social sector to deliver better health and social outcomes. However, achieving these outcomes cannot rely solely on public money and traditional payment mechanisms, such as “fee for services.” Instead, the mobilisation of private capital to finance effective interventions emerged as a forward-looking approach, and spread all over Europe. Success in this practice is measured by these programme output indicators: number of supported transnational cooperation structures increasing capacities for the delivery of services of general interest in a changing society; number of developed implementation elements increasing capacities for the delivery of services of general interest in a changing society. The AlpSib practice contributes to long-term sustainability by addressing sustainability in all three dimensions. At the social level, it establishes a common policy framework and model for social solutions that prove to generate public savings on the economic side. On the environmental side, it enhances the quality of life.
Resources needed:
Total eligible costs: 2.152.988€; ERDF grants: 1.830.039€
Results achieved:
Results achieved include the designing of new solutions for NEETs and seniors through transnational co-creative labs, as well as the development of a joint approach to SII policies through advisory boards of policy makers, which will facilitate the implementation of such solutions. The main outputs of the project are the AlpSib Forum, the AlpSib web platform, and the SII policies common methodology.
Potential for learning:
The AlpSib practice is potentially interesting for other regions to learn from because the AlpSib Forum, the AlpSib web platform, and SII policies common methodology are based on a bottom-up approach aimed at co-creating and disseminating innovative partnerships and solutions at a transnational level. Beyond partners and observers, other stakeholders will have the chance to participate in the transnational Co-Labs, and several events are planned to spread project outputs in the Alpine Space Area and outside. Additionally, the AlpSib platform offers open-access tools to implement SII in different contexts.
Further information:
Keywords:
Health and Social Services
