Uplifting Youth-at-risk Social Impact Guarantee (SIG)
The Uplifting Youth-at-risk Social Impact Guarantee (SIG) is an innovative outcomes-based funding model designed to enhance the Vocational and Soft Skills Program (VaSSP) run by the YMCA of Singapore. This initiative targets at-risk youth aged 15 to 21, aiming to improve their integration into education and employment. The SIG was developed in collaboration with the Lorinet Foundation, Tri-Sector Associates, and the TL Whang Foundation. It functions similarly to a money-back guarantee, ensuring that funding achieves intended social outcomes or is reimbursed if targets are unmet.
The program focuses on teaching employability skills and fostering positive social interactions through mentorship. Enhancements under the SIG include guaranteed internships, tailored learning programs for participants struggling with the standard curriculum, and extended social support for those facing personal challenges.
The SIG model encourages innovation by allowing flexibility in testing new approaches while providing ongoing support from guarantors and donors. This approach not only increases the impact of funding but also improves program accountability and effectiveness
Pros
Encourages innovation and flexibility in program design.
Increases accountability and ensures donor funds are effectively used.
Provides a structured framework for achieving measurable outcomes
Cons
Requires rigorous evaluation and reporting, which can be resource-intensive.
Success heavily depends on achieving predefined outcomes, which may limit adaptability
Partners
YMCA of Singapore
Lorinet Foundation
TL Whang Foundation
Tri-Sector Associates