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Building the Ecosystem for Impact Investing Why It Matters P. Ming Wong Hong Kong November 4, 2014. About Asia Community Ventures. Independent Hong Kong-registered charity incorporated in September 2012. Mission - PowerPoint PPT Presentation
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Building the Ecosystem for Impact Investing
Why It Matters
P. Ming Wong Hong Kong
November 4, 2014
About Asia Community Ventures
Independent Hong Kong-registered charity incorporated in September 2012. Mission To help entrepreneurs build and scale social businesses that improve the
livelihood of vulnerable communities in healthcare, education and environment.
Core Programs Research on ecosystem building, policy innovation and impact investing Incubation services for entrepreneurs and their social startups Advisory services for philanthropic funders
Major Projects Completed
EncourageEnabling Role of Government
Organized and hosted Impact Investing Forum 2013: Accelerating the Industry Regionally. 350 participants from 10 Asian countries - March 2013.
Administered, on behalf of the Rockefeller Foundation, a US$400,000 Impact Economy Innovations Grant Fund for intermediaries. 40 applications from 9 Asian countries – April to November 2013.
Report #1: EngageHK
1. Map Hong Kong’s social ecosystem
2. Identify stakeholders’ needs & priorities
3. Propose ways forward for Hong Kong
Objectives
EngageHK - The Seven Sub-Sectors
Social Sector Ecosystem1. Academia
2. Private Corporations
3. Foundations & Charitable Trusts
4. Intermediaries
5. Non-Profit Organizations
6. Social Enterprises
7. Government
EngageHK: Key Recommendations
EncourageEnabling Role of Government
1. Foster cross-sector dialogue and collaboration
2. Focus on both social and economic benefits
3. Create clearinghouse for ideas and capital
4. Promote greater accountability and transparency
5. Encourage enabling role of government
What is Impact Investing?
Source: G8 Task Force on Social Impact Investing … much more than just investing in social enterprises.
Why Impact Investing?
De-risk social innovation Crowd-in private sector
support Attract new capital to grow
social ecosystem Leverage business
approaches and impact measurement tools
Recycle capital for future investments
Social Impact Investment Taskforce Report
Summary Objectives for Policymakers
Government has three important roles:
Market Builder Increase resources and support for impact-driven organizations Increase flow of talent Develop impact investment culture with a range of
intermediaries Encourage new investors to enter social impact investment
Market Participant Increase effectiveness as purchaser of social outcomes Increase investment from mainstream investors
Market Steward Design appropriate regulatory & legal framework for impact
driven organizations Reduce legal & regulatory barriers for impact investors
G8 National Advisory Board Reports
UK
USA
Japan
France
Australia
Italy
Canada
Germany
Report #2: Adopting the London Principles
1. Analyze Hong Kong’s social funds
2. Introduce the London Principles
3. Propose policy innovations for Hong Kong
Objectives
Observations on Existing Social Funds
Different Approaches, Rather Disconnected Variations of Government Social Subventions Lacks Intentionality for Sustainability and Scalability
Our HK$500 million Social Innovation & Entrepreneurship Development (“SEI”) Fund has potential to address these gaps and be different from existing funds.
The London Principles of Impact Investing
Preamble… a set of guidelines intended to assist governments considering impact investing as a tool to address social objectives,… offer guideposts that ideally point to better strategy and policy development,… are drawn from a multitude of political, economic, and cultural contexts.… support a reflective approach that drives learning and innovation.
Summary Recommendations for Policymakers
Clarity of Purpose Create an impact investing agenda Establish an Office of Social Innovation Conduct needs-based assessment of social funds as linked to
longer-term social issues
Stakeholder Engagement Provide a public platform for impact investing policy review Provide incentives to foster an enabling environment for impact
investing and social innovation Engage with global impact investing community
Market Stewardship Demand-side through partnerships Supply-side through further research initiatives Intermediary development via targeted funding at scale Policy and legal infrastructure
Summary Recommendations for Policymakers
Institutional Capacity Review departmental and policy focus to be responsive to
addressing structural social challenges Commission internal review of existing institutional capacities
and policies
Universal Transparency Funder – support ideas and initiatives addressing structural
issues Regulator – foster policy transparency and reliability Enabler – leverage on open data approaches to spur social
innovation via technology
About Giinseng
Learning by Doing
Engage with Social Entrepreneurs
Invest in Social Businesses
Crowd Funding
Going Forward
Impact investing is moving into the mainstream and will be a potent force for social good to supplement government funding.
Creating an ecosystem to promote social innovation and impact investing is the way forward..
Photo Credit: Eddie Kwong/WMA Open Photo Contest 2013
One More Thing
Photo Credit: Dale de la Ray/AFP/ Getty Images