Kuala Lumpur, 1 July 2024 – The Asia School of Business (ASB) kicked off the SEMAI Summit on June 27, 2024. The summit aims to foster learning, support, and networking among key players in the social enterprise ecosystem.
The summit, organized by ASB in collaboration with the Ministry of Entrepreneur Development and Cooperatives, PurpoSE, and the Chamber of Social Entrepreneur Development (CSED), was inaugurated by the Minister of Entrepreneurship and Cooperative Development, YB Datuk Ewon Benedick.
PurpoSE Co-founder & Managing Partner, Wan Dazriq noted that, “Malaysia as a nation has vast potential that has yet to be properly unlocked with respect to the social entrepreneurship movement. From an ecosystem-building standpoint, government support through accreditation, grants, and incentives are already in place. What is lacking are the mass awareness, understanding, and cohesion in the Malaysian social entrepreneurship space. This is what we aim to bridge – the gaps in awareness and buy-in from private and public sector stakeholders through the SEMAI Summit movement.”
ASBhive Impact Challenge Partnership with Yayasan Hasanah
A key highlight of this year’s SEMAI Summit was the launch of the ASBhive-Hasanah Impact Challenge, in partnership with Yayasan Hasanah. This initiative offers RM250,000 in grants to support social enterprises that are focused on education, community development, and the environment.
The grants aim to support social enterprises at both the seed and growth stages by enhancing their capacity with funds that are easier to access. This initiative is designed to sustain operations, improve fundraising efforts, increase the public’s awareness of social innovation, and scale solutions for positive social and environmental outcomes. Applications for the grants were opened on June 27 and will close on July 31.
Yayasan Hasanah Head of Social Enterprise, Stanley Siva said, “Yayasan Hasanah is dedicated to empowering social enterprises and driving their scalability through the Hasanah Social Enterprise Fund. We are committed to expanding our capacity-building efforts through strategic partnerships, network development, and active support for the social enterprise ecosystem in Malaysia. Our collaboration with the Asia School of Business on the ASBhive-Hasanah Impact Challenge is a testament to our dedication to broadening our reach and amplifying our impact in this sector.”
ASB Deputy CEO Professor Joseph Cherian added, “ASBhive is our commitment to play a part in the development of social enterprises in Malaysia and thread into the myriad of issues confronting societies across the world. ASBhive may not be able to solve all the world’s social problems. But we endeavour to make a difference through our efforts as we host action-based Social Innovation Challenges that tackle urgent global issues but with a keen focus on making a local impact. Our collaboration with Yayasan Hasanah, through the ASBhive Social Impact Challenge provides grants to Social Enterprises aiming to scale their impact and attain sustainability”
The SEMAI Summit brought together representatives from corporations, government agencies, and social entrepreneurs, making it a meaningful opportunity for diverse sectoral engagements and innovation, and driving forward the social enterprise agenda in Malaysia.
The summit is a collaborative effort by the Ministry of Entrepreneurship and Cooperative Development, PurpoSE, Chamber of Social Entrepreneur Development (CSED) and Asia School of Business.
For more information on the SEMAI Summit, please contact iec@asb.edu.my.
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About Social Enterprise SEMAI SUMMIT
The Social Enterprise Malaysia Amplifying Impact (SEMAI) Summit is an inception and collaborative effort driven by Purpose Malaysia and Chamber of Social Entrepreneur Development (CSED) Malaysia, a community-led movement dedicated to advancing social entrepreneurship from grassroots initiatives to wide-reaching stakeholder involvement. SEMAI’s ambition is to make Malaysia’s social entrepreneurship sector ‘great again’ by fostering an environment where innovative and impactful enterprises can thrive within a whole ecosystem and nation’s support. SEMAI aims to create a supportive ecosystem for local and Malaysian based social entrepreneurs through knowledge sharing, collaboration, and access to resources. True to its name, SEMAI signifies ‘sowing’ or ‘seeding,’ reflecting our commitment to gathering and collecting value today for a fruitful and sustainable future in social entrepreneurship.
To know more please visit, https://www.asbhive.edu.my/se-semai/
About ASBhive-Hasanah Impact Challenge
The ASBhive-Hasanah Impact Challenge, in partnership by Asia School of Business and Yayasan Hasanah, is set to provide RM 250,000 worth of grants to social enterprises, focusing on education, community development, and the environment. The grant aims to support social enterprises at both seed and growth stages by offering easier access to funding to enhance organizational capacity and capabilities. This initiative will help social enterprises sustain their programs, improve fundraising efforts, raise public awareness about social innovation, and scale their solutions for positive social and environmental outcomes. Applications opened on June 27 and close on July 31.