The $80 million Office for Social Impact
Queensland’s bold step.
The $80 Million Office for Social Impact.
A new chapter is unfolding for social impact in Queensland. With the state government’s launch of the Office for Social Impact and Investment, backed by an $80 million fund, there is a decisive shift towards recognising the value of social enterprises and impact investing.
It’s a signal that Queensland sees social impact as an economic and social priority.
For philanthropists, social enterprises, and investors, the question now is: how do we harness this opportunity to create lasting change?
A milestone for Social Impact in Queensland
The Queensland Government’s new Office for Social Impact and Investment (OSII) has a clear mandate: to "support social enterprises, impact investors, and community organisations to scale their work and create lasting change" (Queensland Government, 2024). This reflects a growing understanding that the most pressing social challenges, homelessness, unemployment, and mental health, require something that’s a little different to traditional funding models.
“A game-changer for the state’s social economy”
Why this matters
A central hub for Social Investment - The OSII will act as a catalyst for impact-driven investment, bringing together government, philanthropy, and private capital to scale proven solutions.
A shift from grants to investment - The focus is on building a pipeline of investable social enterprises and initiatives that can attract co-investment. (Of course, this is an optimistic view of the pipeline of co-investors!)
A recognition of the role of Philanthropy - Philanthropists and impact investors have long championed innovative solutions. With OSII, the government is stepping in as a partner rather than a sole funder. (Read… sustainability / we don’t have the funds?)
Accountability and impact measurement - A key challenge for social investment is proving what works. OSII’s focus on measurement will be critical in ensuring funds flow to initiatives that deliver tangible results. (YES YES YES. If it’s proportional and pragmatic - we’re in)
The role of Philanthropy and Social Enterprises
Social enterprises have been steadily proving their value, creating jobs, tackling social issues, and reinvesting profits back into communities. However, they often struggle to access the capital needed to scale. For philanthropy, this is a moment of both opportunity and responsibility. The government is laying the groundwork, but the sector’s role is to ensure that capital flows where it is most needed…prioritising long-term, systemic solutions over short-term fixes.
A step towards a National model?
Queensland is not the first government to explore social impact investment, but it is setting a strong precedent. Internationally, we’ve seen how dedicated social investment offices, such as the UK’s Big Society Capital, have helped unlock significant private capital for social good.
Could this be the model Australia has been waiting for?
At Pluri, we believe this is an important step, but certainly nowhere near the final destination. Investment in social good must be designed with longevity in mind. A risk of government-led initiatives is that they can be tied to election cycles rather than long-term impact.
Moreover, investment alone is not enough. The real challenge lies in ensuring that the proper mechanisms exist to support social enterprises as they grow. Access to patient capital, capacity-building support, and pathways to scale will be just as critical as the funding itself.
The key question for philanthropists and social enterprises is: how do we make this more than just a funding opportunity? How do we shape it into a sustainable, scalable model for social impact?
The next steps will be in how this initiative is implemented. Strong governance, clear impact metrics, and a commitment to collaboration will be crucial. We really do see this as an opportunity to fund social impact AND to to build the structures that allow it to thrive.
