Page 72 - 2023 White Paper on the Business Environment in China
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3 White Paper on the Business Environment in China
enterprises in Hong Kong as of 2022. With growing One of these projects is the Rural Urban
numbers of social enterprises and extensive Sustainability Fellowship Program52, which
support from both government and community allows participants to develop nature-based
organizations, the social enterprise ecosystem in solutions to address rural sustainability issues
Hong Kong is gradually maturing and moving to a and compete for a seed grant. This incubation
new stage of social impact development. program is funded by leading financial institutions
in Hong Kong and serves as a channel to foster
In light of the increasing awareness of social collaboration between civil society, academia
impact and demand for impact investing, and the business sector. Civil society members
various organizations and networks have been and potential social entrepreneurs can propose
established to connect investors with social innovative solutions, while corporates can
investment opportunities. One example is the Asia gain insights on sustainability issues related to
Venture Philanthropy Association51 (AVPN), the community engagement and habitat conservation,
largest impact investing network in Asia, which creating synergy to drive sustainability.
was founded in 2011. The AVPN serves as an
ecosystem builder to increase the flow of capital Scaling up impact capital to create
towards impact in Asia and has so far attracted investment opportunities in the GBA
more than 600 members from 33 industries across
the Asia Pacific, covering the market in Hong Kong Unlike philanthropy, impact investing
and the Chinese mainland. challenges the traditional view that social and
environmental issues should be addressed solely
With financial institutions, trusts and research by philanthropic donations and the perception
groups joining the network as funders, the AVPN that investments should only focus on financial
has helped to develop a steady flow of capital returns. Impact investing is a way to address social
for social investing. Given its experience and and environmental issues while also generating
resources, as well as its mature social innovation financial returns. In Hong Kong, more social
landscape, Hong Kong has the potential to be enterprises and impact ventures are aligning their
a leader in social innovation across the GBA, business with sustainability goals and impact
fostering social entrepreneurship and impact investing has become a tool for these companies
investing platforms for investors in Greater China. to secure capital for business development.
Incubating social entrepreneurship The AVPN, as mentioned earlier, connects
and reimagining business model to impact investors with social enterprises and
promote sustainable development impact projects. For example, the AVPN connected
an award-winning social enterprise that aims
The concept of social entrepreneurship should to create a sustainable food ecosystem with a
be more widely recognized in society. Unlike prominent foundation established by an Asia-
traditional businesses, social entrepreneurship centric commercial bank. The network brings
aims to embed social issues into the business together social enterprises for investors to
model, transforming philanthropy into a self- consider and channels funding to Hong Kong
sustaining approach to addressing social issues. social enterprises, which is essential for the growth
The Centre of Civil Society and Governance of local social enterprises.
at the University of Hong Kong is a research
center that works towards a sustainable society Resources sharing is another important factor
by developing community-based, innovative in the success of social enterprises. In light of
solutions to inform policy deliberation and this, Dream Impact, Hong Kong's largest network
collective action. The center is involved in a of social enterprises and impact ventures, offers
variety of sustainability projects, such as rural similar services and connects investors with
sustainability and inclusive employment. social enterprises through its impact capital
51 AVPN, https://avpn.asia/ 52 CCSG HKU, https://ccsg.hku.hk/airi/
72
enterprises in Hong Kong as of 2022. With growing One of these projects is the Rural Urban
numbers of social enterprises and extensive Sustainability Fellowship Program52, which
support from both government and community allows participants to develop nature-based
organizations, the social enterprise ecosystem in solutions to address rural sustainability issues
Hong Kong is gradually maturing and moving to a and compete for a seed grant. This incubation
new stage of social impact development. program is funded by leading financial institutions
in Hong Kong and serves as a channel to foster
In light of the increasing awareness of social collaboration between civil society, academia
impact and demand for impact investing, and the business sector. Civil society members
various organizations and networks have been and potential social entrepreneurs can propose
established to connect investors with social innovative solutions, while corporates can
investment opportunities. One example is the Asia gain insights on sustainability issues related to
Venture Philanthropy Association51 (AVPN), the community engagement and habitat conservation,
largest impact investing network in Asia, which creating synergy to drive sustainability.
was founded in 2011. The AVPN serves as an
ecosystem builder to increase the flow of capital Scaling up impact capital to create
towards impact in Asia and has so far attracted investment opportunities in the GBA
more than 600 members from 33 industries across
the Asia Pacific, covering the market in Hong Kong Unlike philanthropy, impact investing
and the Chinese mainland. challenges the traditional view that social and
environmental issues should be addressed solely
With financial institutions, trusts and research by philanthropic donations and the perception
groups joining the network as funders, the AVPN that investments should only focus on financial
has helped to develop a steady flow of capital returns. Impact investing is a way to address social
for social investing. Given its experience and and environmental issues while also generating
resources, as well as its mature social innovation financial returns. In Hong Kong, more social
landscape, Hong Kong has the potential to be enterprises and impact ventures are aligning their
a leader in social innovation across the GBA, business with sustainability goals and impact
fostering social entrepreneurship and impact investing has become a tool for these companies
investing platforms for investors in Greater China. to secure capital for business development.
Incubating social entrepreneurship The AVPN, as mentioned earlier, connects
and reimagining business model to impact investors with social enterprises and
promote sustainable development impact projects. For example, the AVPN connected
an award-winning social enterprise that aims
The concept of social entrepreneurship should to create a sustainable food ecosystem with a
be more widely recognized in society. Unlike prominent foundation established by an Asia-
traditional businesses, social entrepreneurship centric commercial bank. The network brings
aims to embed social issues into the business together social enterprises for investors to
model, transforming philanthropy into a self- consider and channels funding to Hong Kong
sustaining approach to addressing social issues. social enterprises, which is essential for the growth
The Centre of Civil Society and Governance of local social enterprises.
at the University of Hong Kong is a research
center that works towards a sustainable society Resources sharing is another important factor
by developing community-based, innovative in the success of social enterprises. In light of
solutions to inform policy deliberation and this, Dream Impact, Hong Kong's largest network
collective action. The center is involved in a of social enterprises and impact ventures, offers
variety of sustainability projects, such as rural similar services and connects investors with
sustainability and inclusive employment. social enterprises through its impact capital
51 AVPN, https://avpn.asia/ 52 CCSG HKU, https://ccsg.hku.hk/airi/
72
