1. JUNIOR CODE ACADEMY
FIRST SOCIAL IMPACT BOND IN PORTUGAL
OECD
April 15th, 2015
Luís Jerónimo, Project Manager at Calouste Gulbenkian Foundation

2. THETARGET POPULATION
This Social Impact Bond works with 65 young students aged 8-9 who are in their third
year in Primary School. The SIB reaches three public schools in Lisbon, one class per
schools receives the intervention and one class per school represents the control group.

3. SIB OBJECTIVE
The Junior Code Academy aims at improving the cognitive and non-cognitive skills of
students since they start engaging with the education system.
Initial SIB Pilot (3 schools)
February 2015
SIB programme in 90
schools in Lisbon
(~27,000 students)
2017
Junior Code Academy is
embeded in school
curriculum in Portugal
~400,000 students
Long-term
Building stronger evidence
Get key stakeholders to “buy
in” the SIB model
Learn from an outcome-based
contract environment
Cost savings profile is more
robust
SIB dimension attractive for
investors
Wider outreach and impact
Influencing public policy in
education
Expectation that public sector
will internalise the teaching of
computer programming based
on evidence

4. INTERVENTION APPROACH
The computer programming classes are integrated with the school curriculum. This
means that coding is used as a learning method for curricular contents from other
classes, contributing to a better engagement during classes.
INTERVENTION MODEL OF JUNIOR CODE ACADEMY
3rd GRADE (2014/2015)
4th GRADE (2015/2016)
1stTerm
15th Sept– 16th Dec
(13 weeks)
2ºndTerm
5th Jan – 20th Mar
(11 weeks)
3rdTerm
7th Apr – 12th Jun
(10 weeks)
1stTerm
Sept – Dec
(13 weeks)
2ndTerm
Jan – Mar
(11 weeks)
3rdTerm
Apr – Jun
(10 weeks)
CODE ACADEMY
CODE ACADEMY
65 STUDENTS HAVE 2 HOURSOF CODE ACADEMY CLASSES PER WEEK, FOR 3 CONSECUTIVE
TERMS
CODE ACADEMY

5. FINANCIAL MODEL
An upfront cost assumed by the investor is considered a donation which encompasses IT
equipment for the computer programming classes (robots). The problem solving
outcome is measured at the end of the intervention (Dec 2015) and the school
performance outcome is measured at the end of the 4th grade (Jul 2016).
99,000.00 €
11,000.00 €
0 €
20,000 €
40,000 €
60,000 €
80,000 €
100,000 €
120,000 €
Grant (costs) Investment (costs) Revenues

6. RESULT INDICATORS / GENERAL OVERVIEW