The of Canada has issued a new Request for Proposals (RFP) to solicit bids to establish up to three separate contracts to tackle persistent social problems.
Successful bidders will work with organizations such as charities and not-for-profit organizations to deliver enhanced assistance to more people in need. This new partnership will attract private investments to help address issues including unemployment, poverty, and homelessness. Project proposals could also include initiatives to address the social isolation of seniors, and services targeting vulnerable youth to support their transition from education to work.
Announced in Budget 2015, the Social Finance Accelerator Initiative will create opportunities for investors to finance community organizations that address persistent social problems. The procurement process aims to get the best value for Canadians while enhancing access, competition, and fairness.
The RFP is posted on Buy and Sell Canada on behalf of Employment and Social Development Canada and will be open until July 17, 2015.
The awarded contracts are expected to be announced in August 2015.
- This initiative engages a wide field of participants in generating new ideas for more effective interventions in many realms while introducing private sector best practices.
- It is expected that contractors would start working with the participants by January 2016 and take up to four months to fast-track accelerator participants and their proposals through the Social Finance Accelerator Initiative.
Canada’s Economic Action Plan