Harnessing the power of social finance : Canadians respond to the national call for concepts for social finance

As part of broader efforts to research the potential of social finance to augment existing programs with new capital and new ideas, Diane Finley, Minister of Human Resources and Skills Development, asked Canadians to participate in the National Call for Concepts for Social Finance between November 2012 and January 2013. [...] A Voluntary Advisory Council on Social Partnerships to the Minister, composed of Canadian social finance leaders in the not-for-profit and private sectors, provided advice on the development of the Call for Concepts consultation. [...] Harnessing the Power of SOCIAL FINANCE 9 Social finance around the world International developments Although the concept of linking private capital to societal improvement has been around for decades in many jurisdictions, three countries are on the leading edge of social innovations and social finance models: United Kingdom (UK) The UK is the world leader in the development of social finance. [...] Que be c The Minister for Industrial Policy and the Banque de développement économique du Québec planned to introduce a framework law in the National Assembly during the Spring 2013 Parliamentary session to recognize, promote and develop the social economy. [...] The questionnaire was designed to capture a broad spectrum of input and asked submitters to outline: yy The social problem being addressed yyHow money would flow to the innovation (e.g., homelessness, unemployment) project and through the proposed social yyA description of the population finance initiative (e.g., via a SIB, investment being targeted (e.g., at-risk youth, fund or social enterprise)