After working at JPAL and the World Bank measuring the impact of social programs, Michael realized that impact at scale requires a unique combination of evidence, real-time feedback and the right environment. Together with a few classmates he founded Instiglio, the first organization of its kind structuring social impact bonds and other results-based financing contracts focused in developing countries.
Over $600 billion dollars is spent every year by governments and international donors helping people find a way out of poverty. It's not accomplishing nearly what it should. Social impact bonds and results-based financing are two ways of tying expenditure to impact. Instiglio is on the cutting edge of bringing these tools to bear in poor countries, and many are watching closely. If they can show that it is doable and that it can efficiently drive impact, the potential is enormous.