Process Evaluation for the Life Chances Fund
This report presents the findings of a process evaluation of the Department for Digital, Culture, Media and Sport (DCMS)’s Life Chances Fund
Applies to England
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The report presents an analysis of progress to date, applicants’ experiences, early implementation, governance and performance management, the impact of Covid-19 on social impact bond (SIB) project delivery and learning for future programmes.
The Department for Digital, Culture, Media and Sport (DCMS) commissioned ICF Consulting to undertake an evaluation of the Life Chances Fund (LCF). LCF was launched as an outcomes fund with up to £80 million, which aims to tackle complex social problems by helping people in society who face the most significant barriers to leading happy and productive lives in England. The LCF contributes to projects through payments by results contracts. These contracts involve social investors and are locally commissioned.
This process evaluation report details findings based on administrative project-level data, qualitative interviews with a variety of relevant stakeholders, and case studies with eight projects including interviews with investment fund managers, commissioners, providers and intermediaries where applicable.
The aims of the interim evaluation report is to examine:
- what worked well and less well in the implementation of the LCF, identifying enablers and barriers, and why some SIBs did not proceed in launching
- whether the LCF is on track to achieve its aims and objectives, such as whether it has become quicker or easier to set-up a SIB, what types of innovation are being funded, whether it has increased the amount of capital available to voluntary, community and social enterprise organisations and what has been the impact of the LCF on the SIB market