Social Impact Investing (SII) Program Evaluation

The SII Program aims to inform the Australian Government of its role in:

building the SII market; and
the effectiveness of outcome-based financial models in addressing entrenched social disadvantage.

The SII Program is funded to 2026-27, with a 3-phase evaluation approach planned:

Phase 1: Synthesis of evidence from the SII Program early stages
Phase 2: Analysis of the outcome commissioning experience, SII payment models and the role of partnerships
Phase 3: Overall evaluation of the SII Program at the conclusion of the SII Trials

Insights from the SII Program are contributing to a broader approach to focus on outcomes achieved through programs and policies.

SII Program First Phase Evaluation Report

The SII Program First Phase Report recognises the positive impact of the SII program on Australia’s emerging SII sector, and:

provides an evidence-base for the four SII Program initiatives
provides insights and information of interest to the SII sector.
outlines opportunities for Government to support ongoing initiatives and SII policy development, including:
- the Outcomes Fund and the Social Enterprise Development Initiative, announced as part of the Targeting Entrenched Disadvantage measure in the 2023-24 Budget
- any new policies supporting the social enterprise sector and outcomes-based funding models.

The key lessons and insights from the first phase evaluation fall into 3 domains:

Commissioning outcomes – insights into government processes, capacity, limitations and challenges in the areas of data, appropriate skillsets and innovation.
Building the market – lessons and insights into both limitations and opportunities regarding scale and capability development
The role of government – providing greater understanding of the systemic constraints and challenges across government, and the benefits of partnerships with states.

Last updated: 10 January 2024 - 4:09pm