Impact Investment Exchange Asia (IIX), a Singapore-based for-profit company that provides capital to social enterprises (SEs), recently launched an Impact Accelerator program in the Philippines that will provide four early-stage SEs with seed capital and tailored mentorship and advisory services in an effort to decrease the time needed for the businesses to grow. The services will be provided over a six-month period that is expected to begin in January 2015.
In order to be selected, enterprises must demonstrate that their business model: (1) has established “proof of concept” through a pilot test, (2) will provide a “meaningful” solution to a problem affecting the poor and (3) can achieve scale with the additional capital. The program will focus on SEs that operate within the agricultural, education, energy, health and water sectors. Information about the amount of seed funding to be disbursed is unavailable at this time. It is unclear whether these funds will need to be repaid over time.
As of 2014, IIX has facilitated the investment of USD 8.1 million in social enterprises and has impacted 7.4 million people in Asia through social enterprise improvements in education, energy, environmental protection, finance for the poor and water.
By Ananya Tiwari, Research Associate
About Impact Investment Exchange Asia (IIX)
Impact Investment Exchange Asia (IIX) is a Singapore-based for-profit company that provides capital to social enterprises (SEs). The company was founded in 2009 by Durreen Shahnaz, adjunct associate professor at Lee Kuan Yew School of Public Policy at the National University of Singapore. As of 2014, IIX has facilitated the investment of USD 8.1 million in social enterprises and has impacted 7.4 million people in Asia through social enterprise improvements in education, energy, environmental protection, finance and water.
Sources and Additional Resources
[1] IIX Press Release, http://www.asiaiix.com/impact-investment-exchange-asia-launches-impact-accelerator-in-the-philippines-2/
MicroCapital, September 12, 2014, MICROCAPITAL BRIEF: Philippines-Based Metrobank Foundation to Expand Microfinance, Metrobank Group Donates $456k for Development Projects, https://www.microcapital.org/microcapital-brief-philippines-based-metrobank-foundation-to-expand-microfinance-metrobank-group-donates-456k-for-development-projects/
MicroCapital, August 2, 2014, MICROCAPITAL BRIEF: Bangko Sentral Ng Pilipinas (BSP) Increases Maximum Microinsurance Benefits for Clients in the Philippines to $11k, https://www.microcapital.org/microcapital-brief-bangko-sentral-ng-pilipinas-bsp-increases-maximum-microinsurance-benefits-for-clients-in-the-philippines-to-11k/
MicroCapital, July 24, 2014, MICROCAPITAL BRIEF: Mentors International Implements Mambu’s Cloud Banking Software to Support Lending to Small, Medium-sized Enterprises in El Salvador, Guatemala, Honduras, Peru, Philippines, https://www.microcapital.org/microcapital-brief-mentors-international-implements-mambus-cloud-banking-software-to-support-lending-to-small-medium-sized-enterprises-in-el-salvador-guatemala-honduras-peru-philippines/
MicroCapital Universe: Impact Investment Exchange Asia (IIX), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Impact+Investment+Exchange+Asia+%28IIX%29
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