Social Innovation and Entrepreneurship Development Fund

Social Innovation and
Entrepreneurship Development Fund

In 2013 the Government established the Social Innovation and Entrepreneurship Development Fund (SIE Fund) with an allocation of $500 million. An additional $500 million was injected to the Fund in 2021-22 to further alleviate poverty and social exclusion as well as foster the well-being and cohesion of the society by promoting social innovation and nurturing social entrepreneurship.

SIE Fund website

With a view to building up an ecosystem for nurturing social entrepreneurs to generate innovative ideas to support poverty relief in Hong Kong, the SIE Fund will accord priority to initiatives that will support three components that contribute to the development of a broad base for social innovation and entrepreneurship, namely Research, Capacity Building and Innovative Programmes –

Capacity Building

Establishing or supporting schemes to reach into the community to spread awareness of social innovation and entrepreneurship, to encourage individuals to enter the field
Establishing or supporting networks among bodies engaged in the field of social innovation and entrepreneurship to help build capacity and co-ordination across the field
Establishing or supporting schemes to provide mentorship for aspiring social entrepreneurs
Building networks that help connect aspiring social entrepreneurs with partners, finance or other support mechanisms

Innovative Programmes

Supporting existing mechanisms to provide seed or scale-up funding for innovative social entrepreneurs
Establishing new funding mechanisms to support innovative social entrepreneurs that fill the gaps or complement existing programmes
Funding suitable projects that meet the objectives of the Fund

Research

Undertaking or commissioning research to better identify areas of needs