HKCSS' Impact Incubator team and a pool of independent assessors will conduct a preliminary assessment of all applications received, and submit recommendations to the Vetting Committee for a decision. During the preliminary assessment, the Impact Incubator team might require clarifications or supplementary information from the applicant. Representatives of the applicant may be required to attend meetings to present their project proposals and answer questions from the Joint Vetting Committee (JVC) / Proposal Assessment Committee (PAC). The applicant will be informed of the outcome after the Vetting Committee has made the decision.

HKCSS, Impact Incubator team and SIE Fund reserve the right on the ultimate funding decision.


TierThreshold value (HKD)Endorsement Party
12,000,000 or belowJVC*
22,000,000 abovePAC**

* The Joint Vetting Committee (JVC) comprises five members, including two SIE Fund Task Force members, and one HKCSS Convenor. This committee will assess eligible applications and formulate funding decision for each eligible application. Where necessary, the JVC may seek comments and advice from other experts.

** The Proposal Assessment Committee (PAC) comprises SIE Fund Task Force members. The PAC will make the funding decision on each eligible application, for the SIE Fund Secretary General’s final endorsement.


Under normal circumstances, the initial vetting result will be emailed to the applicant's registered email address within 50 working days after the application deadline. Tier 2 Funding applications will require a longer vetting procedure.


Vetting Criteria


Scale-up, Growing and Start-up

Late prototype

HKD300,000 above

HKD300,000 and below

  Social mission and impact 

  Clear vision and objective which align with SIF Fund objective
  Clear illustration of output, outcome and impact
  Sound measurement of social impact (not applicable to Late prototypes)

  Project management and execution

  Effective operational model and work plan
  Good management team
  Cross-sectoral collaboration
  Good publicity, marketing and promotion plan
  Sound corporate governance and risk management (not applicable to an individual's Late prototype funding application)


  Demonstration of project innovativeness (eg idea, business model, delivery approach, etc)


  Clear demonstration of impact sustainability
  Tested/ Sound revenue and/or business model during funding period
  Sound plans to self-sustain after funding period

  Project team capability

  Commitment, leadership and relevant experience of the founder(s)
  Sense of entrepreneurship and social awareness




HKCSS' Impact Incubator team will notify the applicant of the vetting result by  email. If an application is rejected, the Impact Incubator team will inform the applicant of the reason(s) for the decision. The successful applicant may be required to revise the project proposal and / or budget, when necessary. The revised project proposal and budget will be further examined by the Vetting Committee / JVC / PAC. Funding approval will be granted to the applicant upon the signing of the agreement with the Trustee of the SIE Fund. For applicants' reference only, the Summary of Principal Terms for each application type, is as follows:

Late Prototype (individual) application ***

Late Prototype (organisational) application ***

Start-up/ Growing/ Scale-up application ***

***The information in the Summaries of Principal Terms is non-binding and non-committal. It is intended to facilitate the Grantee's consideration of the agreement with the SIE Fund (Trustee) and not intended to be legally binding or to give rise to any other rights or obligations. Nothing in the Summaries of Principal Terms shall constitute any commitment of the Trustee to provide the requested grant. The provision of any grant is subject to the terms and conditions of the legally binding agreement to be entered into between the Grantee and the Trustee of the SIE Fund.