Toby Eccles Biography

In 2010, a UK initiative aimed at ex-offenders who completed brief sentences was supported by private investors thanks to his innovative Social Impact Bond (the limited government funding only goes to ex-inmates who served long terms). The 5 million plan, sponsored by 17 investors, provides training and assistance to 1,000 ex-offenders; if they commit fewer crimes again than a control group, the government will reimburse investors with interest using the savings realized by meeting the program's objectives. More of these connections are currently being tested all around the world, notably in Massachusetts and New York City (both of which handle recidivism), as well as in brand-new industries like development. Eccles established Social Finance in 2007 and is responsible for all of the company's social impact bond activity, where, according to Eccles, "We are rewarded for working with the challenging and the adaptable." We are motivated to cooperate with challenging individuals and organizations.

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