Media Centre
The SIE Fund brings social innovation into play, connecting different sectors and going hand in hand with Hong Kong people in the fight against the coronavirus that has lasted for more than two years. Since the early stage of the pandemic, the Fund has timely provided funding support for various innovative projects to alleviate the hardship of people in need and those affected, including the grassroots, the elderly, children and people of diverse race, in areas ranging from healthcare, food, living and transport to community participation, education and learning, and others.
Head of the research team, Chair Professor at the Department of Social Work and Social Administration of The University of Hong Kong Professor Paul Yip, pointed out that the first study affirmed the Fund’s adoption of an innovative approach for poverty alleviation. In addition to providing funding for innovative projects, the Fund has also put considerable efforts into building the capacity of social entrepreneurs and establishing platforms to create bigger impacts out of social investments. The second study conducted by the research team last year indicated that innovative projects supported by the Fund turned each dollar of grant into $2.7 worth of impact for society, which enabled innovative ideas, products and services to effectively cater to social needs and resources to yield higher value.
