The announcement was made last week by the NSW Government following a competitive tender process.
“Access to quality early learning can significantly improve a child’s chances of overcoming social disadvantage,” said Penny Markham, National Lead, Social Inclusion for Goodstart.
“Our proposal focused on the benefits of increasing the number of vulnerable children experiencing quality early learning, particularly in the year before they commence formal schooling,” Ms Markham said.
Goodstart State Manager for New South Wales Nicole Jones praised the NSW Government for their investment in early childhood education.
“We are excited to be entering a joint development phase with the NSW Government. Together we will explore viable options for increasing children’s access and engagement in early learning to help prepare them for school and for life.”
Elyse Sainty, Director, Impact Investing of Social Ventures Australia, said: “‘We are delighted to have been selected alongside our partner Goodstart Early Learning. It is encouraging to see such momentum behind this innovative mechanism that delivers both social and financial returns, and we’re looking forward to improving the outcomes in early learning for vulnerable children.”