MASTERCLASS ESSAYS – introducing the most extensive learning material created in frames of the SIBdev project

The overall goal of the Masterclass Program is to build the capacity for Social Impact Bonds of the eight SIBDEV partner municipalities. The Masterclass is thus aimed at the representatives of the partner cities and their stakeholders. The training program consists of 6 masterclasses, scheduled from October 2020 to February 2022, that progressively guide the beneficiaries along a path from basic to in-depth knowledge of SIBs, from listening to the experience of others to mobilizing local expertise and networks and working on their own SIB cases.

The three specific objectives of the Masterclass are as follows:

1. To transfer to the partner cities basic, technical and scientific knowledge of SIBs and to provide “hands-on” training in order to turn ideas into practice.

2. To engage the cities’ relevant stakeholders in a transnational exchange of knowledge of SIBs, thus contributing to the development of local social innovation ecosystems.

3. To facilitate the development of local Integrated Action Plans (IAPs) through the supervision of, and advice from high-professional experts.

Methodology, Program and Agenda

To achieve the aforementioned objectives a mix of training methods were deployed:

• Learning from theory. “Expert lectures” were arranged as introductions to SIBs, explaining the theory of change and clarifying the main concepts related to the SIB mechanism. Technical and scientific lectures are also envisaged for the next masterclasses to address highly specialized topics such as impact measurement, outcome pricing and financial engineering.

• Learning form experience. Illustration of “Case Histories” provided the opportunity to listen to the stories behind some successful SIBs, stories told from different perspectives. Participants had the opportunity to hear the views of public administrators, social investors, SIB managers and social providers.

• Learning by doing. “Group-works” were organized to analyse successful SIBs and to assess their transferability to partners’ local contexts. “Co-creative Labs” are also envisaged in 2021 masterclasses to advise the partner cities on how to implement their roadmaps towards an SIB.

• Self-managed learning. “Briefing and debriefing materials” were sent to the participants for autonomous study; the material included a lecture info-kit, slide show and video-recordings, and fact sheets relating to the SIBs presented. “Feedback Questionnaires” and “Learning. Assessment exercises” were also carried out to evaluate the quality of the training and the learning outcomes as well as to monitor learning needs.

In response to the COVID19 emergency two learning environments were designed:

• “Online training” for the first masterclass held in 2020 is fully deployed online.
• “Blended learning”, that is a mix of “face to face” and digital training, is instead planned for Masterclasses 2,3,4,5, and 6 to be held in 2021-22.

The main topics addressed through the Masterclass Program are those highlighted in the international literature as the main steps to be undertaken in establishing an SIB:

1. Defining the social issue and the target groups

2. Identifying and measuring outcomes

3. Defining the intervention model

4. Calculating savings and pricing outcomes

5. Building the business case/ financial engineering

6. Handling the procurement and contracting an SIB

The Masterclass Program of the 6 masterclasses largely follows these 6 topics and is presented below. The Program must be considered a “work in progress”, since changes can be made to accommodate learning needs and inputs from other project activities.

1. MC1: An introduction to SIBs. Building a common language.

1. MC2: Paying for success. Defining, quantifying and measuring outcomes.

2. MC3: Delivering social change. Selecting innovative interventions.

3. MC4: Generating economic value. Calculating savings and pricing outcomes.

4. MC5: Investing in impact. Developing the business case

5. MC6: Building the Partnership. Handling procurement and contracts

Above introduction is an excerpt from MASTERCLASS 1 ESSAY prepared by Maria Chiara Pizzorno ad-hoc expert in the project.

The ESSAYS of all Masterclasses can be found in the Library of SIBdev network page, and can be regarded as the most extensive learning material created in the frames of SIBdev project.