The Social Innovation and Entrepreneurship Development Fund (SIE Fund), as a catalyst for social innovation in Hong Kong, connects the community with different sectors, including businesses, NGOs, academics and philanthropies to create social impact through innovative solutions that address poverty and social exclusion.
Partly through the intermediaries, the Fund provides visionary individuals and organisations with diverse resources in support of research, capacity building and the entire life cycle of innovative ventures, from idea incubation and seed funding to implementation and eventual scale-up. The ultimate goal is to foster an ecosystem where social entrepreneurs can thrive and innovative ideas, products and services can benefit society by meeting underserved needs, unleashing underutilised talents, promoting social inclusion, as well as enhancing the well-being and cohesion of the society.
As one of the Intermediaries of the SIE Fund, the Hong Kong Council of Social Service (HKCSS) operates the Impact Incubator, a one-stop supporting platform connecting SIIs with various parties in regards of knowledge, resources and network to implement innovative ideas with social purpose. They provide all-round support to social entrepreneurs through the “7Ps Incubation Package”.
Amount of Grant
Projects at different stages will require different amounts of grant funding over variable funding periods.
SIE Fund Grant for start-up, growing & scale-up projects:
SIE Fund Grant Amount
HKD300,001 – HKD900,000; Project Duration: 1-3 years
Over HKD900,000 with no funding cap; Project Duration: 2 years
SIE Fund Grant for late prototype projects:
SIE Fund Grant Amount
Up to HKD300,000; Project Duration: 12-18 months
Note: If your budget exceeds HKD200,000, an in-person interview will be conducted.
The approved total grant is the sum of the capital grant and the operating grant, where:
the capital grant is the amount approved for acquiring assets (i.e. capital expenditure)
the operating grant is the amount approved for financing the funded project’s operating deficit
Eligibility
Late Prototype Application: Hong Kong permanent residents aged 18 years or above, or organisations and companies limited by guarantee or limited by shares and registered in Hong Kong are eligible to apply.
Start-up, Growing and Scale-up Application: Organisations and companies limited by guarantee or limited by shares registered in Hong Kong are eligible to apply.
Projects which are, or will be, supported by other public funding schemes will not be considered. Applicants cannot submit the same project proposal to different intermediaries to apply for the SIE Fund.
The Impact Incubator supports and incubates:
Social entrepreneur who aims to adopt sustainable business solutions to address poverty and social exclusion issues
Social intra-preneur from the NGO or private sectors, who aim to mobilise internal resources for social good
Social innovator who adopt creative approaches to addressing social needs
