PETALING JAYA: The Hasanah Social Enterprise Fund 2023 (HSEF2023) is calling all Malaysian organisations geared for social or environmental impact to apply for grants up to RM100k and zero-interest loans up to RM750k.
The RM10 million funding programme by the Ministry of Finance (MoF) and Yayasan Hasanah is set to upscale innovative solutions with measurable social and environmental goals.
Yayasan Hasanah today (July 20) announced the opening of the Hasanah Social Enterprise Fund 2023, the continuation of a pioneering funding programme aimed at catalysing the growth of small and medium enterprises in Malaysia that are geared towards creating positive social or environmental impact.
Funded by MoFand 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, Trustee and Managing Director of Yayasan Hasanah Datuk Shahira Ahmed Bazeri said, “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 MoF, the 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.
