New York is about money, Washington D.C. is about policy, but Boston, Boston is about ideas.Tracy Palandjian, CEO and Co-Founder of Social Finance
Those ideas were on display today at Boston’s HubWeek, a weeklong festival that brings together creative and inventive minds making an impact in art, science and technology. Social Finance CEO Tracy Palandjian joined HubWeek co-founder Linda Henry on stage at the HubWeek Future Forum to talk about Creating Sustainable Growth through Pay for Success (PFS).
We live in the most incredible technological era, yet in this time of some of the greatest wealth creation, we’ve never seen this many people being left behind. It is in the realm of the government to think about these social issues, that is the social contract we all signed up for right?
Pay for Success helps government in their pursuit of honoring that social contract, by sitting at the center of two significant movements of our time: government accountability and impact investing. Impact investing is about an increasing desire to consider the role of capital markets in addressing social challenges.
Linda and Tracy closed their conversation with Tracy’s vision for the future: a future where governments make funding decisions on — and pay for — positive social outcomes, high-performing nonprofits have a sustainable funding stream that rewards performance, and impact investors invest their capital directly to achieve better results for the most vulnerable citizens. One where mainstream public finance markets increasingly reward non-financial performance.
An Introduction to Pay For Success
Pay for Success is a set of innovative outcomes-based financing and funding tools that directly and measurably improve lives by driving resources toward results. Watch this video overview.