Yayasan Hasanah in collaboration with the Ministry of Finance, Malaysia today announced a new grant aimed at empowering and supporting the organisational development of social enterprises and social innovators, with funds readily allocated by the ministry in Budget 2022.
This fund, specifically targeting social enterprises, is the third among the grants available for application from Yayasan Hasanah this year. The foundation launched the Hasanah Special Grant 2022 earlier this year, and Arts For All Seasons (ArtsFAS) grant last week.
With a total allocation of RM5 million, the newly established Hasanah Social Enterprises Fund 2022 or HSEF2022 extends assistance to accredited social enterprises at both seed and growth stages to help them scale and build their organisational capacity and capabilities.
Yayasan Hasanah Managing Director and Trustee Dato’ Shahira Ahmed Bazari said “For many social enterprises, cash flow, liquidity, and low access to investors are the biggest hindrance to sustainable growth opportunities. In collaboration with the Ministry of Finance, this fund will support social enterprises at seed and growth stages and is a full organisational development fund. We hope social entrepreneurs and innovators will take full advantage of the fund. The fund is also designed to instil financial discipline and develop capacities of entrepreneurs to scale their impacts.”
The eligible social enterprises and innovators must be organisations registered in Malaysia with the capability to collaborate and execute on the five impact areas of Yayasan Hasanah: Education, Community Development, Environment, Arts and Public Spaces, and Knowledge.
Preference will also be given to those with Social Enterprise accreditation status from the Ministry of Entrepreneur Development and Cooperatives, with each initiative able to receive funding up to RM500,000.
“We hope that social enterprises and innovators who have big ideas, or need financial assistance to grow their business and their impacts will apply for this grant to unlock further opportunities, as well as affect positive change in our country. We look forward to collaborating and support change-makers and innovators who are aligned with our foundation’s impact areas.” Shahira said.
