Fifteen Innovative Business Ideas for Impact Stand Out at Young Social Entrepreneurs Global 2023 Programme

3:14:06 PM | 6/14/2023

The social enterprise teams will now advance to the final phase of the Singapore International Foundation’s signature programme and reconvene in November to present their refined business ideas.

Fifteen social enterprise teams will advance to the next phase of the Singapore International Foundation’s (SIF) Young Social Entrepreneurs (YSE) Global 2023 programme. The teams were selected from an initial pool of 46 teams, comprising 79 participants of eight nationalities, who attended the YSE Global 2023 – Workshop. The 15 selected teams were from China, India, Indonesia, Laos, Malaysia, Singapore and Vietnam.

The YSE Global programme inspires, equips, and enables youth from around the globe to start or scale up their social enterprises in Singapore and beyond. Since 2010, the programme has nurtured a global alumni network of more than 1,400 changemakers, representing 43 nationalities and 674 social enterprises.

The workshop was held in Singapore from 7 to 10 June and comprised a series of training sessions, learning journeys and business clinics organised by the SIF. Participants learnt new skills to shape and strengthen their business models.

They attended sessions on storytelling, digital marketing, pitching, impact measurement and management. Through a series of interactive activities, they also networked with like-minded peers of different nationalities, gained deeper cross-cultural understanding, and made new friends.

The budding social entrepreneurs presented their business plans to a panel of judges on the final day of the workshop, and these were assessed based on their potential for significant social impact, promise of sustainability and scalability.

Their business ideas sought to contribute to the United Nations Sustainable Development Goals (UNSDG), such as addressing climate change, promoting inclusive and equitable quality education for all, and leveraging technology to empower underserved communities.

This year, more than a quarter of the solutions proposed by participating teams (28 per cent) contribute to UNSDG Goal 3 – Healthcare and Wellbeing. They include health-tech applications and platforms that provide improved healthcare accessibility to vulnerable groups, including low-income communities and mental health patients.

The teams selected to move to the final phase of YSE Global 2023 were announced at the closing ceremony of the workshop, which was attended by SIF Governor Ms Amalina Abdul Nasir. In her speech at the event, she noted a key goal of the SIF: to connect people from different cultures and inspire collaborations that will create a better world.

She said: “The SIF wants to pave the way for these young changemakers to turn their social business ideas to reality and, in turn, enrich lives. Through YSE Global, they have opportunities to learn from one another, collaborate, and build networks of social impact.”

Over the next four months, the selected teams will be mentored by leading business consultants from McKinsey & Company, Temasek International, and established entrepreneurs relevant to their sectors. The teams will work with their mentors to sharpen their business acumen and broaden their cultural perspectives through a series of webinars and dialogues to expand their perspectives on social entrepreneurship through regional and local players in the social enterprise landscape.

The 15 teams will reconvene at the YSE Global 2023 – Pitching for Change event in November this year. They will then present their refined business plans for a chance to receive funding of up to S$20,000 each.

The selected participants are looking forward to the next chapter of their YSE journey. One of them was Mr Vũ Hải Nam, Founder and CEO of tMonitor. The Vietnam-based social enterprise aims to improve indoor air quality while mitigating the risk of fire and harmful gasses. It provides real-time monitoring through a software that can collect, monitor, and analyse air quality using artificial intelligence.

He said: “This has been an incredibly fulfilling journey. I've not only acquired valuable practical knowledge and skills from the diverse sessions but also had the pleasure of connecting with a remarkable cohort of social entrepreneurs. The opportunity to gain insights from a multitude of perspectives has been invaluable as each market has its unique story, yet we all face similar challenges and issues.”

B.H (Vietnam Business Forum)