Sideways World

There is a grand experiment underway, the birth of a new financial market, one that promises to solve society’s most complex, intractable problems. An unorthodox marriage between capitalism and charity, The Grand Experiment tracks a social innovation that has won the backing of both conservative and liberal governments, support from renowned philanthropists like the Rockefeller Foundation, and buy-in from Wall Street’s biggest investment bank, Goldman Sachs.

Social Impact Bonds (SIBs) are an investment product designed to raise private capital for social programs. Governments pay investors a return only if the programs decrease public expenditures by improving social outcomes, for example lowering the number of unemployed or prisoners. The profit paid by government to the investor is commensurate with the success of the social program.

From the halls of power to society’s struggling underclass, The Grand Experiment follows an unusual cast of characters forging previously unthinkable alliances: social workers and Wall Street bankers, the homeless and venture capitalists, conservative and liberal politicians. Over three years – in Canada, the United States and the United Kingdom – this feature film tracks their efforts to use profit motivation to solve everything from crime to addiction to homelessness.

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Sir Ronald Cohen is the creator of social impact bonds, and leader of the international SIB revolution. As chair of the newly formed G8 Taskforce on Impact Investment, he’s been charged with igniting impact investing around the globe. Credited with creating the global venture capital market, Sir Cohen believes impact investing will be a democratizing force giving equal opportunity to all.  By enticing investors with the lure of a double bottom line, he aims to bridge the gap between rich and poor.

At Melody Elementary School on Chicago’s west side, we’ll follow Kindergarten children through a school year in one of the city’s poorest neighborhoods. These students and their parents are part of a program designed to reduce the city’s special education costs. Goldman Sachs and local venture capitalists have invested $17 million in the Chicago bond.  If the children test well, they’ll make a profit, which they hope will galvanize a global impact investment market.

For head teacher Michelle Stewin, the money is a chance to keep their program alive. Poverty, unemployment, and homelessness, have stacked the cards against her students.  Will the teachers and children at Melody get the test scores they need to keep the money flowing?

In Canada, the Ontario government is looking to launch its first social impact bond. We have negotiated exclusive access to film the final selection process, as four short-listed non-profits work with finance consultants to hone their business case and pitch to investors. The finalists are attacking a wide range of confounding social problems: generational unemployment, habitual young offenders, and chronic homelessness.

In the UK, Sir Cohen’s creation is facing growing opposition.  Some labour unions and non-profits are accusing the British Cabinet Office of pursuing a privatization agenda, and opening up government coffers to society’s wealthiest individuals. In the United States, academics have questioned the metrics used to pay Goldman Sachs a maximum return on the country’s first successful SIB.

Despite the concerns surrounding SIBs, they are the fastest growing social innovation in modern history. Currently there are 53 in more than a dozen countries, including: the UK, U.S., Canada, Australia, Germany, Belgium, Netherlands, Israel, Japan, Finland, Sweden, Ireland, Italy, India and Malaysia.

In Chicago and Ontario, and through the international efforts of Sir Cohen, The Grand Experiment will document one of the most important shifts of the 21^st Century. At the heart of this film is one central question: is capitalism the answer to our social problems?

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Contact us to request full treatment, more screening material, information on broadcast partners, budget, finance plan or any other matters relating to potential partnerships.

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Director: Nadine Pequeneza
Producer: Nadine Pequeneza
Distributor: Sideways Film
Country of Production: Canada
Language: English
We are looking for: Co-Pro and Pre Sales
Stage of Project: Development
Delivery Date: Dec 2017

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Key Biographies

Director – Nadine Pequeneza

Nadine Pequeneza is an award-winning Producer, Director and Writer best known for her observational films offering unique access to character-driven stories about social justice. With over 15 years international experience, she has received multiple awards including; a Canadian Screen Award for Best Writing in a Documentary Program, the American Bar Association Silver Gavel, a Gold Hugo from the Chicago International Film Festival, a Golden Sheaf from the Yorkton Film Festival, and a Gold Panda from the Sichuan TV Festival. Nadine is a 7-time Canadian Screen Award nominee in both directing and writing categories. Her work has broadcast in more than 50 countries.

Editor – Ricardo Acosta