First social impact bond in portugal
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This document summarizes a social impact bond in Portugal called the Junior Code Academy. The bond aims to improve cognitive and non-cognitive skills of 65 third grade students aged 8-9 through computer programming classes integrated into the school curriculum. It will measure problem solving outcomes after one year and school performance after students complete fourth grade to determine if investors receive returns. The long term goal is to expand the program to more schools and influence public education policy nationwide.
First social impact bond in portugal
- 1. JUNIOR CODE ACADEMY FIRST SOCIAL IMPACT BOND IN PORTUGAL OECD April 15th, 2015 Luís Jerónimo, Project Manager at Calouste Gulbenkian Foundation
- 2. THETARGET POPULATION This Social Impact Bond works with 65 young students aged 8-9 who are in their third year in Primary School. The SIB reaches three public schools in Lisbon, one class per schools receives the intervention and one class per school represents the control group.
- 3. SIB OBJECTIVE The Junior Code Academy aims at improving the cognitive and non-cognitive skills of students since they start engaging with the education system. Initial SIB Pilot (3 schools) February 2015 SIB programme in 90 schools in Lisbon (~27,000 students) 2017 Junior Code Academy is embeded in school curriculum in Portugal ~400,000 students Long-term Building stronger evidence Get key stakeholders to “buy in” the SIB model Learn from an outcome-based contract environment Cost savings profile is more robust SIB dimension attractive for investors Wider outreach and impact Influencing public policy in education Expectation that public sector will internalise the teaching of computer programming based on evidence
- 4. INTERVENTION APPROACH The computer programming classes are integrated with the school curriculum. This means that coding is used as a learning method for curricular contents from other classes, contributing to a better engagement during classes. INTERVENTION MODEL OF JUNIOR CODE ACADEMY 3rd GRADE (2014/2015) 4th GRADE (2015/2016) 1stTerm 15th Sept– 16th Dec (13 weeks) 2ºndTerm 5th Jan – 20th Mar (11 weeks) 3rdTerm 7th Apr – 12th Jun (10 weeks) 1stTerm Sept – Dec (13 weeks) 2ndTerm Jan – Mar (11 weeks) 3rdTerm Apr – Jun (10 weeks) CODE ACADEMY CODE ACADEMY 65 STUDENTS HAVE 2 HOURSOF CODE ACADEMY CLASSES PER WEEK, FOR 3 CONSECUTIVE TERMS CODE ACADEMY
- 5. FINANCIAL MODEL An upfront cost assumed by the investor is considered a donation which encompasses IT equipment for the computer programming classes (robots). The problem solving outcome is measured at the end of the intervention (Dec 2015) and the school performance outcome is measured at the end of the 4th grade (Jul 2016). 99,000.00 € 11,000.00 € 0 € 20,000 € 40,000 € 60,000 € 80,000 € 100,000 € 120,000 € Grant (costs) Investment (costs) Revenues
- 6. RESULT INDICATORS / GENERAL OVERVIEW