The Department of Treasury and Finance leads work across the South Australian Government in social impact investment.

Social impact bonds (SIBs) and ‘pay by results’ contracts are about better outcomes for individuals and communities. Under these arrangements governments agree to share the financial benefits delivered through innovative social programs. Private investors may then provide the capital to pay for the program delivery, and then receive a rate of investment return that is linked to the success of the program, as measured against clearly defined outcome objectives.


South Australia’s first social impact bond, the Aspire program, commenced in 2017. The program aims to improve the lives of homeless people in Adelaide.  The Hutt St Centre is the lead service provider.

Further information about the Aspire social impact bond (including the information memorandum, progress updates and reports to investors) is published on the website of Social Ventures Australia, the financial intermediary.

2019 Market Approach

In May 2019, the Commonwealth and South Australian Governments announced a partnership to develop a new social impact investment initiative in South Australia, to deliver better outcomes for children and young people in out-of-home care, and after leaving guardianship.

The South Australian Government has released a call for expressions of interest, with documents published on the SA Tenders & Contracts website (Tender Code: DTAF045671). Organisations planning to respond to the expression of interest need to register with the website and download the documentation, which provides further details.

The closing date for responses is 25 October 2019.

Contact for inquiries:

More information

For further information about social impact investing, please refer to: