What is SIE Fund

Catalyst for social innovation in HK

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 and more.


Objectives

Attract, inspire and nurture
social entrepreneurship

The objectives of the SIE Fund are –

 

To establish or support schemes and experiments with a view to attracting, inspiring or nurturing social entrepreneurship to develop innovations that aim at creating social impact and build social capital for supporting poverty relief in Hong Kong.


Beneficiaries

Residents of Hong Kong without conditions of stay
who are in need of assistance

The SIE Fund intends to benefit members of the public in Hong Kong who are generally residents of Hong Kong without conditions of stay and in need of assistance in poverty alleviation and prevention of social exclusion such as the elderly, persons with disabilities, ethnic minorities, single-parent families, new arrivals, low income families, and other segments of the community in Hong Kong with limited access to education and opportunities. The aim is to bring hope, dignity and self-worth to these groups. 


Principles

Social innovation
is the focus

The operation of the SIE Fund will be guided by the following principles –

 

  1. social innovation is the focus, not social enterprise per se;
  2. the scope of the Fund should remain flexible for more effective delivery of results in the light of actual experience;
  3. focus on innovative ideas to alleviate and prevent poverty;
  4. risk assessment is important while promoting innovation so as to maintain the prudent use of public money; and
  5. no overlapping with other existing public funding.

Funding

To stimulate social innovation and social investment ecosystem

Funds will be distributed under the priority areas of Capacity Building and Innovative Programmes through a variety of initiatives administered by the intermediaries. The Task Force may also sponsor some theme-based flagship projects directly from time to time. The Task Force will be giving consideration to other types of funding that may help to stimulate the social investment ecosystem. SIE Fund welcomes the community to make suggestions that will contribute to the development of social innovation.  Any such suggestions will be conveyed to the Task Force or its appointed intermediaries for consideration. (For enquiries, please contact the SIE Fund Task Force Secretariat.)