PG COUNTY MICRO-SOCIAL IMPACT BOND: A FEASIBILITY STUDY - FALL/WINTER 2015
For Release, 11/8/2015
First Micro-Social Impact Bond for STEAM in PG County, MD
Hyattsville, MD – On National STEM day, November 8th, Infinite 8 Institute, L3C (I8I), an Omaha-based social enterprise that designs and finances social impact bonds, will partner with Maryland-based College and Career Pathways, Inc., Berkley-based 3D Robotics, Georgetown University’s Social Enterprise & Nonprofit Law Clinic, Northwestern High School, and other local and national corporate, philanthropic, and financial institutions on the first Social Impact Bond for STEAM (Science, Technology, Engineering, Arts, & Mathematics) in the United States. The $2.5 million dollar 3-year pilot project will be privately financed without government dollars and could save Maryland taxpayers an estimated $13 million in criminal justice and special education expenditures if proven successful. The purpose of the initiative is to increase diversity in the STEAM fields by highly developing 50 low-income minority high schoolers.
The Micro-SIB, with a narrow scope of testing prototypical innovations, will feature a summer academy at the University of Maryland, with a Saturday school component continuing during the school year. Focus areas of emerging technologies will include: Drone Technology, Bitcoin, Green Energy, 3D Printing, and Mobile Technology, and Digital Art and Design. A Press Conference will be held at 9:00am, Monday November 9th in the Northwestern High School Auditorium, 7000 Adelphi Road, Hyattsville, Maryland 20782, Office: 301-985-1820
Contact: Ean Garrett, J.D., Chief Innovation Officer, Infinite 8 Institute, L3C
(p) 202-492-6119, (e) firstname.lastname@example.org.