Can a Focus on Co-Created, Strengths-Based Services Facilitate Early-Stage Innovation within Social Impact Bonds?

Abstract

This presentation discusses the potential of Social Impact Bonds (SIBs) to encourage innovation, focusing on the role of co-created, strengths-based services. We present findings from four UK SIBs, showing that strengths-based service delivery models and co-production can catalyze early-stage innovation, although co-creation remains limited. We also identify key elements of SIB design that support strengths-based practices and co-creation: increased autonomy for service providers, shifting risk to investors, and long-term, flexible funding. The findings challenge skepticism about SIBs’ ability to empower service users and frontline providers to re-engineer public services.