Social Innovation and Entrepreneurship Development Fund (SIE Fund)
The Social Innovation and Entrepreneurship Development Fund (SIE Fund), as a catalyst for social innovation in Hong Kong, connects our community with different sectors, including businesses, NGOs, academics and philanthropies to create social impact through innovative solutions that address poverty and social exclusion. Mostly through intermediaries, the Fund provides visionary individuals and organisations with diverse resources in support of research, capacity building and the entire life cycle of innovative ventures, from idea incubation and seed funding to implementation and eventual scale-up. The ultimate goal is to foster an ecosystem where social entrepreneurs can thrive and innovative ideas, products and services can benefit society by meeting underserved needs, unleashing underutilised talents, promoting social inclusion, as well as enhancing the well-being and cohesion of the society.
Through the intermediaries’ programme, the SIE Fund will distribute funding on Innovative Programmes and related Capacity Building programmes which are targeted to nurture the social entrepreneurs and their ventures. Separately, the SIE Fund may directly fund flagship projects which are of major public concern and have greater social impacts, and for areas of unmet demands and service gaps where there is a need for greater coordination and collaboration to achieve results.
Funding will typically be in the form of grants for innovative ventures of different development stages (idea generation, prototyping, start-up or scale-up). The SIE Fund Task Force is also exploring new funding modes such as equity investment, loan guarantee and pay-for-success (aka social impact bond) to meet different funding requirements of social entrepreneurs and facilitate the development of the social impact investment ecosystem.
The SIE Fund welcomes the community to submit proposals. All proposals received will be handled by the Task Force Secretariat according to the established mechanisms. Those falling within the scope of the intermediary programmes will be referred to the relevant intermediaries for consideration.