Our Performance

Catalysing impact for prevention and alleviation of poverty and social exclusion

The SIE Fund seeks to be a catalyst for social innovation in Hong Kong. By facilitating social innovation and cultivating social entrepreneurship, the Fund aims to drive impact in alleviating poverty and social exclusion, promoting social integration as well as enhancing the well-being and cohesion of the society.

With a view to building up an ecosystem for nurturing social entrepreneurs, the Fund accords priority to funding initiatives in the areas of Innovative Programmes, Capacity Building and Research.

The SIE Fund seeks to alleviate poverty through three priority action areas on innovation.  More than HK$250 million has been allocated to various initiatives as of April 2020.  The number of funded projects in total is 210 and the total number of beneficiaries is more than 245000.  Under Innovative Programmes, the number of funded projects is 169 and the number of beneficiaries is over 70000.  Under Capacity Building, the number of funded projects is 10 and the number of beneficiaries is over 31000.  Under Research, the number of funded projects is 31 and the number of beneficiaries is over 144000.




Evaluation Study of the SIE Fund

The University of Hong Kong has been commissioned to evaluate the performance of the Fund in achieving its objectives

To assess the performance and impact of the SIE Fund and the evolving development of different ongoing and new initiatives driven, the SIE Fund commissioned The University of Hong Kong (HKU) to conduct the "Evaluation Study of the SIE Fund" to evaluate the performance of the initiatives of the Fund in achieving its objectives. The Study examines the overall performance of the Fund, the impact of intermediaries as well as projects and initiatives funded or supported by the Fund, in terms of both financial and non-financial impacts.


Major Findings of the Evaluation Study

SIE Fund has contributed to alleviation of poverty and social exclusion through the unique approaches of facilitating cross-sectoral collaboration and leveraging the social capital of intermediaries
SIE Fund's contributions to the social innovation ecosystem: attract non-NGO actors to enter the social entrepreneurial ecosystem; attract participants from diverse background; foster interdisciplinary collaboration in project formulation and implementation; foster a more innovative and pluralist social entrepreneurship environment.  Innovative products / services are developed to address social needs.
Through the Fund's unique approaches of facilitating cross‐sectoral ollaboration and leveraging the social capital of intermediaries, the Fund has greatly supported social innovators and entrepreneurs (especially those at their early stage), nurtured the ecosystem of social innovation and entrepreneurship, and contributed to alleviation of poverty, promotion of social inclusion and enhancement of the well‐being and cohesion of society.

[Extract from the Executive Summary of the Final Report of the Evaluation Study of the Social Innovation and Entrepreneurship Development Fund (November 2019)]


Up to end May 2019, adopting a longitudinal approach, the study has traced the development of 90 funded projects nurtured by the intermediaries during the study period.  The major findings include:

  • HK$17.2 million was provided by the SIE Fund and over HK$20 million worth of matching fund was solicited
  • The total monetized social return of outputs generated amounted to about HK$79 million worth of value, HK$12.2 million of which was from additional investment/donation on top of matching fund secured
The total monetized social return of outputs comprised voluntary workers engaged, media exposure generated, job opportunities created, discounted services and products provided, as well as HK$12.2 million additional investment/donation on top of matching fund secured
  • More than half of the funded projects successfully launched their products and services which generated a total gross profit close to HK$18 million
  • Estimated Social Return on Investment (SROI)note yielded from the projects is 2.13
  • Nearly 140 000 beneficiaries covering children and youth, elderly, persons with disabilities, ethnic minorities, low-income families, etc. were reached or served


More information about the Evaluation Study can be found here.

Note
Social Return on Investment (SROI) is a form of cost-benefit analysis. It attempts to assign a monetary value to the social impacts created by a project and assesses it against with the cost spent. In general, a SROI equal or larger than one indicates that a project has generated an amount of social return that is equal to or larger than its cost. The greater the SROI, the more social return a project generates with respect to the cost. [source: website of The Hong Kong Jockey Club Centre for Suicide Research and Prevention (CSRP), HKU]

 


Findings of a Study Paper by HKU

The role of SIE Fund in fostering social entrepreneurship in Hong Kong

In a study paper entitled "The role of the social innovation and entrepreneurship development fund in fostering social entrepreneurship in Hong Kong: A study on public policy innovation" published by a research team at HKU in July 2019, the SIE Fund was examined to illustrate how public policies can potentially drive social innovation. The paper discussed the impact of the SIE Fund in fostering innovation among its funded ventures and how the SIE Fund has influenced Hong Kong's social entrepreneurship environment.

Results show that the projects under the SIE Fund exhibit characteristics distinct from the social enterprises prior to the inception of the SIE Fund. In addition, evidence of innovations in terms of product, process, marketing, and innovation in developing new or improved social practices were also identified.

[Quoted from the "Abstract" of the paper]


Abstract of the study paper can be viewed here.