Question

The Social Innovation Fund (SIF) positions the federal government as a catalysts for impact in which evidence based programs and interventions are used to enable social innovation across America and make available new sources of evidence on what works best to solve the country’s most intractable problems. The operating model of the SIF is designed to advance the objectives of identifying, validating and growing promising approaches to challenges facing local communities and is distinguished by following six elements:

Innovation: The SIF is committed to investing in innovative solutions that displace ineffective programs. For SIF “Social Innovation” means new ways to solve old problems that are faster cost effective and data driven.

Evidence: The SIF provides both technical assistance and funding for required evaluations of the classic programs and the evaluation of pay for the success (PFS) model.

Scale: To ensure the successful expansion of awarded programs. The SIF selects grantees with expertise in assisting organizations in building their capacity to reach more people.

Grantees: Through the SIF’s, classic program awards are made to experience grant makers with strong skills and track records of success in competing, selecting, validating and growing high performing programs.

Match: Across both SIF’s classics and PFS programs, grantees and sub grantees must march every federal dollar one to one helping triple the federal investment, augment working capital and spark new collaborations.

Knowledge Sharing: The SIF is committed to the effectiveness of nonprofits funded and government agencies by rigorously documenting and sharing best practices and lessons learned

What are the strengths of the Social Innovation Fund SIF and what are the deficits?

Answer 1

Answer: Social innovation fund is money that federal government has been used for solving the problem of American people.

Strength of the SIF are :

• Identify and solve the problem in an effective manner.
• Cost efficient
• New ways of solving community problem
• Provide technical assistance
• SIF has strong connectivity
• Best utilisation of resources
• SIF has taken help from federal government
• Provide better collaborations opportunities
• Availability of working capital should be quite high
• Proper evaluation at every stage

Deficit of SIF are :

• Huge investment required
• Knowledgeable higher skill person are required
• Time consuming process as it involved studying of the problem, provide solution and evaluate the result