The Social Innovation and Entrepreneurship Development Fund (SIE Fund) Task Force announced today (March 17) the successful appointment of four organisations as the third batch of intermediaries. A new round of initiatives under innovative programmes will be launched to provide support for more social entrepreneurs, thereby fostering the continuous development of the social innovation ecosystem.
 
     The four intermediaries appointed are Fullness Social Enterprises Society Ltd (FSES), the Hong Kong Council of Social Service (HKCSS), MakerBay Foundation Limited (MakerBay) and Oxfam Hong Kong (Oxfam). They are knowledgeable and experienced organisations in promoting social innovation. The new round of innovative programmes is expected to be launched in the second quarter this year. More information can be found on the SIE Fund website (www.sie.gov.hk/en/intermediaries/programme.page).
 
    MakerBay and Oxfam are first-time appointees with new innovative programmes to be launched. The "Impact Innovation Lab" of MakerBay provides makerspace, tools and activities including training workshops for young people to explore social innovation, with a view to inspiring them in innovative ideas to alleviate poverty and put them into action with the skills acquired and support from experts. Together with its partner organisations and the business sector, "Grant for Good" of Oxfam encourages the integration of innovative ideas and the application of technology to provide sustainable solutions to social and poverty issues.
 
     FSES and the HKCSS continue to join hands with the SIE Fund and enhance their current programmes to create more social benefits. The "Innovator Farm" of FSES pays special attention to the development needs of social innovators, and equips participants to build sustainable, scalable, and impactful social businesses with a flexible incubation programme. "Impact Incubator" of the HKCSS offers a one-stop platform to reinforce the connections of social entrepreneurs with social and welfare organisations, foundations, investors, businesses and professionals with resources and networks to support the ventures to create a greater social impact.
 
     The SIE Fund looks forward to working with the intermediaries closely on promoting social innovation and entrepreneurship, which can in turn enable more social entrepreneurs to address social needs with their innovative ideas, products and services, and assist the Government in formulating targeted poverty alleviation initiatives. It is expected that the four intermediaries will fund and incubate more than 240 innovative projects during the three-year engagement period. 
      
     The SIE Fund was inaugurated in 2013 and is overseen by the SIE Fund Task Force under the Commission on Poverty. The Task Force Secretariat is established in the Efficiency Office under the Innovation, Technology and Industry Bureau. By facilitating social innovation and cultivating social entrepreneurship, the SIE Fund aims to have an impact in alleviating poverty and social exclusion, promote social integration as well as enhance the well-being and cohesion of society. The Fund engaged two batches of intermediaries in 2015 and 2020 respectively to provide incubation and support for individuals and organisations to take forward innovative projects of a different nature that create a social impact, and further enhance the development of the social innovation ecosystem.

Ends/Friday, March 17, 2023
Issued at HKT 15:00

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