Singapore-based Impact Investment Exchange Asia (IIX) has chosen Philippines to launch a new investment platform for social enterprises (SEs). An intensive “in-country” acceleration program, the “Impact Accelerator,” has been designed to accelerate early-stage SEs that have high potential to create positive social and environmental impact
Impact Accelerator is IIX’s third investment platform. Earlier, the organisation had launched “Impact Partners,” an online platform that enables individuals to making private investments in pre-screened SEs that match their investment criteria. Similarly, “Impact Exchange,” is the world’s first public trading platform dedicated to connecting SEs with mission-aligned investment.
According to IIX, Impact Accelerator is well suited to the current SE scenario in Philippines, which has seen recent rapid growth in the SE activity and where large numbers of entrepreneurs are working to address various challenges across different social sectors , including agriculture, energy, water, health and education.
The programme will run in collaboration with IIX’s local partner, the Asia Society for Social Improvement and Sustainable Transformation (ASSIST). Four early-stage SEs that have already pilot-tested their business model and established a proof of concept, will be provided advisory services, seed capital and mentoring over a six month period.
The aim is to support the selected SEs through the early stages, by shortening the time needed to grow their business and impact more lives. In selecting its pioneer cohort of SEs, the Accelerator will focus on the following areas:stage of SEs, strength of value proposition, a preferred fit with five focus sectors and scalability of business.
IIX said that the these SEs will have the opportunity to raise future rounds of funding on its Impact Partners platform. The call for applications is scheduled to close on November 7. Participating enterprises are expected to be selected by end of December followed by a program kick-off in January 2015.
American entrepreneur and investor Frank Levinson (MD, Small World Group), CapAsia ‘s founding CEO Vijay Sethu, Agricology Group and Locus Analytics are serving as the angel investors of Impact Accelerator and will fund the initial year of operations, at this investment platform.