Yayasan Hasanah today (July 21) announced the opening of the Hasanah Social Enterprise Fund 2023 (HSEF2023), a funding programme aimed at catalysing the growth of SMEs in Malaysia that are geared towards creating positive social or environmental impact.
Funded by the Ministry of Finance (MoF) and managed by Hasanah, HSEF2023 is open to all businesses registered in Peninsular Malaysia, Sabah or Sarawak that aim to grow its commercial as well as social and environmental goals. In its debut last year, HSEF2022 disbursed a total of RM4.64 million to 32 entities.
This year, HSEF2023 seeks to widen the coverage of recipients to include all types of scalable enterprises that meet social and/or environmental objectives.
These enterprises would exhibit the capability, interest, and potential to expand and develop their business, mission, and organisation that are aligned with Hasanah’s focus areas, namely Education, Community Development, Environment, and Arts and Public Spaces.
Highlighting Yayasan Hasanah’s role in growing the impact space in Malaysia, Dato’ Shahira Ahmed Bazari, Trustee and Managing Director of Yayasan Hasanah, shared, “As the nation’s largest grant maker, we’re committed to magnify the force of impact-driven businesses in our nation – and this includes bridging the gap between traditional and innovative funding models that is crucial for the longevity of these businesses.
“Through the collaboration with the Ministry of Finance (MoF), HSEF2023 supports the long-term sustainability and growth of the impact space, while ensuring its commercial viability. This is a progressive step in nurturing entrepreneurship for good in our country.”
HSEF 2023 will be offered through three categories:
- The first category, ‘Seeding Path’, offers funding of up to RM100,000 in the form of a grant to support the developmental purposes of the recipient organisation.
- The second category, ‘Growth & Scale Path’, provides funding up to RM500,000 in the form of a zero-interest rate loan, after which the proposed repayment amount and period are evaluated based on the applicant’s performance in meeting financial and impact targets.
- The third category is especially for applicants that are SE Accredited (SE.AC) and possess certification from the Ministry of Entrepreneur and Cooperatives Development (KUSKOP). Recipients are eligible to apply for a zero-interest loan of up to RM750,000.
Applications for HSEF2023 are now open. Visit yayasanhasanah.org/hsef2023 to apply. Application will remain open until 30 December 2023 or when the fund allocation has been fully committed.
