Singapore Centre for Social Enterprise, raiSE presents a model for impact investment in the SE sector
Published on
May 10, 2023
Singapore Centre for Social Enterprise, raiSE presents a model for impact investment in the SE sector
Credits: Singapore Centre for Social Enterprise, raiSE I Ong Hui Yu shares how they’ve been building the SE ecosystem in Singapore since 2015.

During the 2023 Philippine Social Entrepreneurship Summit, one session that generated huge interest was Impact Investment and the Social Enterprise Sector.  The discussion was led by Ong Hui Yu, Collaborative Financing Lead of the Singapore Centre for Social Enterprise, raiSE; Dr. Ben Quiñones, Jr., Chairman of the Asian Solidarity Economy Council; and Rodmark Barriga, President of the Society for the Advancement of Professional Social Entrepreneurship (SAPSE). 


Dr. Quiñones defined impact investing as a means of generating social impact by investing resources into social enterprises (SEs) that will, in turn, create more avenues for social development. He acknowledged Singapore as one of the leading countries in impact investing, with raiSE already taking steps to build the ecosystem by nurturing the growth of social enterprises and connecting them with partners and funders.. 


Since 2015, raiSE has been at the forefront of SE development in Singapore. As an ecosystem developer and membership body for all players wanting to be involved in the SE sector, raiSE forges partnerships between public and private players to shape Singapore’s budding SE landscape. raiSE recognizes that SEs are in a unique position to drive both social innovation and business sustainability. The organization thus established multiple layers of support from both public and private sector partners in the ecosystem. 


Hui Yu explained that business owners have increasingly become more purpose-driven and have adopted a more holistic approach towards enterprise-building and social impact creation. “Players who want to stay in the game need to embed purpose in the strategic core of their business. They must show that they are genuine about doing good and that they are in it for the long haul,” says Hui Yu. In addition, raiSE holds dialogues and consultations with big businesses and multinational corporations to draw them closer to the social space and to encourage SE partnerships for social innovation.


To support social enterprises, raiSE builds capacity for younger SEs so that they are able to capitalize on available opportunities. Their programs are designed to help SEs throughout the phases of their enterprise journey. These include courses on design thinking, social impact measurement, and skills training focusing on the different aspects of running a business, such as marketing, operations or accounting, to name a few. Hui Yu also noted that raiSE’s capacity-building programs emphasize the commitment needed to run an SE.  “[We] don’t just show the positive side [of running SEs]. We try to show [our partners what happens] behind the scenes, the nitty gritty.  And that is where the real story starts.”


Venture building is another key focus of raiSE. Along with capacity building programs, selected SEs are given financing options such as grants and investments to support their businesses and grow their impact. Once SEs reach a certain point of business development, raiSE connects them to larger strategic investors to help propel SEs into different stages of growth. In these efforts, raiSE engages private sector partners and introduces them to SEs that are aligned with their impact goals. This collaborative process brings new partners into the SE ecosystem, including those looking for ways to create impact beyond financial support.  

As lead implementers of the National Social Enterprise Development Roadmap, Bayan Innovation Group and SAPSE look to the raiSE model and the exciting prospects of replicating its components for the Philippine SE sector. Making international funding accessible to SEs, as well as expanding SE networks and enterprise development opportunities, will be critical in advancing the  SE Roadmap agenda. 


For updates on the SE Roadmap, follow BIG on Facebook and Instagram or send us an email at collaborate@bayaninnovationgroup.org

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