Since 2015, the Social Innovation and Entrepreneurship Development Fund (SIE Fund) has appointed the Impact Incubator as an Intermediary to design and implement incubation services for local social enterprises and social innovation projects that clearly address the SIE Fund’s funding objectives, beneficiaries and principles. Please refer to the SIE Fund’s website for details.

During 2015 to 2022, Impact Incubator has deployed more than HKD100 million grant funding, on behalf of the SIEF. Together with Impact Incubator's non-financial support, these funds have helped over 190 social entrepreneurs and their projects scale up to serve local beneficiaries. Impact Incubator is open to funding applications for HKD300,000 or above.

Approved projects will benefit from a ‘7 Pillars Incubation Package’ which equips social entrepreneurs and/or project owners with the necessary skills and knowledge to better implement their projects.

Please refer to “Incubation Support” for details.

The Impact Incubator accepts all applications, which align with the SIE Fund’s funding objectives, principles and beneficiaries.

Please refer to the SIE Fund’s website for details: https://www.sie.gov.hk/en/who-we-are/sie-fund.page.

The SIE Fund will fund projects at different stages of development, including Scale-up, Growing, Start-up and Late Prototype. Eligible applications are those made by individuals (which is only applicable to Late Prototype projects), by organisations, or companies limited by guarantee or shares, and are registered in Hong Kong.

ELIGIBILITY

SCALE-UP

Organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong

GROWING

Organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong

START-UP

Organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong

LATE PROTOTYPE

Hong Kong permanent residents aged 18 years or above, or organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong

Projects at different stages will require different amounts of grant funding over variable funding periods.

A) Matching Grant for scale-up, growing & start-up projects:

^ Matching funds exclude SIE Fund and all other HKSAR Government funding. It includes cash or in-kind sponsorship from local and overseas private donors, foundations and/or private investors. In-kind sponsorship generally refers to sponsorship of rental, equipment, talent and certain types of intellectual property. Hence, the applicant should submit relevant documents to support any valuation of the in-kind matching fund. The matching fund amount will be subject to relevant terms and conditions and will be confirmed after approval.

B) Non-matching Grant for late prototype projects:
(open for application in April-May and June-August 2023 ONLY)

Note: Matching fund is not required.
^#If your budget exceeds HKD200,000, an in-person interview will be conducted.

Each of Scale-up, Growing, Start-up and Late Prototype is briefly explained below:

SCALE-UP

A social project or social enterprise which has already demonstrated impact and sustainability. The project’s owner/ founder has a commercial framework to further develop and scale the business.

GROWING

A social project or social enterprise which has demonstrated a track record in performance and social impact with recurring income, and has potential for steady growth.

START-UP

A social project or social enterprise whose prototype has already been tested and launched to market. The project’s owner/founder has a business model to support the project.

LATE PROTOTYPE

A social project or social enterprise with a solid prototype that has been alpha-tested. The project’s owner/founder intends to commercialise and launch the prototype to market.

We accept applications registered in an individual’s name (this is only applicable to Late Prototype* applications), in an organisation’s or a company’s name. The Impact Incubator aims to target the following:

• Social entrepreneurs who aim to adopt sustainable business solutions to address poverty and social exclusion issues.
• Social intra-preneurs from the NGO or private sectors, who aim to mobilise internal resources for social good.
• Social innovators who aim to adopt creative approaches to addressing social needs.

*Late Prototype applications are accepted only in April-May and June-August 2023.

The Impact Incubator accepts applications all year round, from April 2023 to December 2025.

Applicants can register an online account on the Impact Incubator ‘s website, and submit their proposals and required documents through the online system. Please contact us, if there are any enquiries.

Yes. Applications in the name of individual, organisation or a company registered in Hong Kong will be accepted. Please refer to Question 4.

Social enterprises with business models or other forms of financial sustainability model, or social innovation programmes without business models are welcome to apply to the Impact Incubator. Please refer to Question 7.

All applications will be assessed and evaluated by the Impact Incubator team, Joint Vetting Committee and/or Proposal Assessment Committee. Vetting criteria includes:

• Social mission and impact
• Project management and execution
• Innovativeness
• Sustainability
• Project team capability

All individuals and/or interested parties are welcome to join Impact Incubator’s various events and activities at any time. However, priority will be given to incubatees.

Please refer to Impact Incubator’s social media (Facebook, Instagram, LinkedIn) and newsletter announcements for details.

Please refer to “How to apply – Funding Objestives” for details.

When applicants submit applications for Scale-up, Growing and Start-up projects, applicants will be required to secure a certain amount of matching funds ^, which depends on requested SIE Fund grant amount:

(1) HKD300,001 – HKD900,000:

2:1 matching fund ratio

(2) More than HKD900,000:

1:1 matching fund ratio

^ Matching funds exclude SIE Fund and all other HKSAR Government funding. It includes cash or in-kind sponsorship from local and overseas private donors, foundations and/or private investors. In-kind sponsorship generally refers to sponsorship of rental, equipment, talent and certain types of intellectual property. Hence, the applicant should submit relevant documents to support any valuation of the in-kind matching fund. The matching fund amount will be subject to relevant terms and conditions and will be confirmed after approval.

If the matching fund comprises any in-kind sponsorship, applicants will need to provide documents or material to support the in-kind valuation. When the application is approved, applicants will need to provide a written commitment to evidence matching funds have been secured. Please also refer to Question 13.

When the incubatee signs the agreement with the Trustees of the SIE Fund, the incubatee will be required to deposit the matching fund amount (either in full or in part) into the incubatee’s designated account. This is required before the SIE Fund disburses the SIE Fund grant.

The Impact Incubator team will aim to help shortlisted applicants solicit external funding sources for matching fund purposes. We do not guarantee success in each case, but we will endeavour to facilitate as much as possible.

The entire vetting time depends on the completeness of application materials submitted by the applicant (please check the document checklist on https://socialinnovation.org.hk/en/how-to-apply/application-procedures/). After the preliminary assessment, the applicant will receive an initial response, comment or suggestion from the relevant Vetting Committee. The applicant may also be required to revise the proposal, budget and/or to provide other supplementary documents. Generally, the applicant will receive an initial response or initial result by email, within 50 working days after the application deadline. However, this might take longer if the applicant’s documents are incomplete or there are additional queries during the vetting process.

In general, the SIE Fund grant funding can be used in 1) Capital expenditures and 2) Operating deficit. For further details, please refer to “How to apply – Funding Objectives”.

Successful incubatees should generally be self-sustainable. If the funded incubatee generates net profits during the funded project period, not less than 65% of the incubatee’s distributable profits have to be re-invested into the business or project, with prior consent from the SIE Fund Task Force through the Impact Incubator. Hence, no more than 35% of the funded incubatee’s distributable profits can be distributed to the incubatee’s shareholders.

Applicants have to submit all required documents and confirm that all information provided is valid. Otherwise, the application will not be processed.

The incubatee’s responsible project owner/management team has to sign the Grant Agreement with the Trustee of the SIE Fund. The project owner/management team is responsible for implementing the funded project according to the terms and conditions stated in the signed agreement.

The agreement will list out detailed responsibilities e.g. the incubatee will be required to submit Progress / Final Reports and Financial Reports according to the schedules of the agreement.

Please also refer to the document checklist for details. The following documents shall be required for an application:

• Fully completed application form
• Proposal
• Budget Plan
• Signed Declaration form (Declaring if the project is currently applying for, or accepting a grant from another government fund or another organisation)
• Corporate governance (CG) plan (except for individual applicants)
• Registration documents e.g. Business Registration Certificate, Certificate of Incorporation and Articles of Association, Sec 88 IRD Certificate, etc.
• Documentary proof of matching funds and / or sponsorship from other sources (for Scale-up, Growing and Start-up stages)

The same business proposal cannot be re-submitted. However, we welcome the applicant submit a new proposal after making certain amendments.

Yes, the applicant can submit more than one application at any given time, but each application needs to be different.

Please feel free to contact us from 10:00 to 18:00 (Mon - Fri). The office is closed on Saturdays, Sundays and public holidays.

During the incubatee's funding period, each incubatee will be assigned an experienced consultant to support the funded project's progress and implementation plan. After the grant funding period ends, the Impact Incubator team will aim to provide appropriate support, subject to the incubatee's needs at that time.

If you have any enquiry, please contact us as follows.

Phone: 2876 2492
Email: info@socialinnovation.org.hk
Website: http://www.socialinnovation.org.hk

Please contact Impact Incubator from 10:00 to 18:00 (Mon - Fri). The office is closed on Saturdays, Sundays and public holidays.