Singapore International Foundation

25 Feb 2010

Singapore International Foundation launches first-of-its-kind programme for young social entrepreneurs

Young Social Entrepreneurs - Application | Areas of work:

Singapore, 3 March 2010… The Singapore International Foundation (SIF), in partnership with Volans Asia, launches today the Young Social Entrepreneurs (YSE) 2010, a unique programme that will allow aspiring youths to pick up the basics of starting up a social enterprise.

From 3 to 7 March, six groups of three to four participants each will take part in an in-residence programme at YWCA Fort Canning Lodge in Singapore. Selected based on business proposals they had submitted, the groups will be coached by established social entrepreneurs and mentors on how to develop business plans, assess their social impact, market their businesses through social media and raise funds.

Ranging from the ages of 18 to 25, the participants are studying or living in Singapore but come from a variety of Asian countries such as China, Vietnam, Indonesia and Singapore. This lends the programme its unique cross-cultural element.

“The Young Social Entrepreneurs programme provides these students with the opportunity, not only to interact with and learn from their peers and industry practitioners, but also to understand differing cultural perspectives and thus broaden their world views,” explains Ms Serena Wong, Director of International Networking, SIF.

This programme is another example of how the SIF facilitates the exchange of ideas.  Through such people-to-people exchanges, the foundation promotes understanding between Singaporeans and world communities. Other similar SIF programmes include the Young Business Ambassadors, Singapore Internationale and the Distinguished Visitors Programme.

“Through the Young Social Entrepreneurs programme, we also hope to build and foster a regional network of Asian youth interested in the field of social entrepreneurship. This will then help in the development for more of such enterprises in future that benefit more communities in Asia,” adds Ms Wong.

Speaking at the camp is Ms Elim Chew, founder and president of 77th Street. Ms Chew was recently appointed to the SIF Board of Governors. A successful businesswoman herself, youth entrepreneurship is a subject close to Ms Chew’s heart. In addition to chairing or co-chairing several committees targeted at youths, she is also a founding member and director of the Social Innovation Park (SIP). The SIP is a social enterprise incubator that helps create a platform to support the business solutions of social entrepreneurs.

“Youths in Singapore have great ideas and passion for social enterprises but they might not have the knowledge or resources to get their businesses up and running. This programme brings together successful social entrepreneurs to act as mentors to the young participants. The skills that the participants will pick up will help them build sustainable social enterprises. The development of more such businesses in Singapore will lend towards a more vibrant social entrepreneurship climate in Asia,” says Ms Chew.

A key component of the YSE programme requires each business proposal to demonstrate a social impact. Examples of the proposals include an enterprise that provides marketing skills training to basket-weavers in Cambodia, a mushroom cultivation business that uses coffee ground waste and an enterprise that donates a pair of shoes for every pair purchased.

Mr Kevin Teo, founding partner and director of Volans Asia, a London-based company dedicated to the business of social and environmental innovation, has previously managed the East and Southeast Asia portfolio of the Schwab Foundation for Social Entrepreneurship.

“Social entrepreneurship as a subject matter has captured the hearts and minds of the youth all over Asia. The best ideas and learning come through cross-pollination,” says Mr Teo.

“By assembling a group of budding young social entrepreneurs from around Asia, the Young Social Entrepreneurs programme will provide these future leaders with the tools and network to deliver on pattern-changing models that will impact the whole region,” he adds.

Industry practitioners that will be coaching the groups include Mr Bjorn Lee, Chief Executive Officer, JABFISH; Mr Douglas Abrams, Managing Partner, Extream Ventures; Mr Lee Junior, Managing Director, Silver Capital Investment Pte Ltd; Ms Jessica Tan, Partner, McKinsey & Company Singapore; Mr Martin Tan, Executive Director, Halogen Foundation; Ms Nancy Frohman, General Manager, SingHealth Foundation; and Ms Sarah Mavrinac, President, aidha.

Through hands-on workshops, the participants will learn how to assess the feasibility of their business plans, measure social impact and ultimately, raise funds for their enterprises. They will also get lessons on pitching their ideas to potential funders and partners, and being effective leaders and team builders.

In addition, the participants will have a roundtable discussion with Mr Kenny Low, Chief Executive Officer and Principal of O School, a performing arts centre that is also a social enterprise.

At the end of the camp, the six teams will get to pitch their business proposals to a judging panel. The winning team will walk away with a prize of S$3,000.