Applications are now open for the second cohort of the Sustainable Impact Accelerator – Asia's first venture capital-backed accelerator for socially impactful enterprises.
This accelerator, organised by the Singapore Centre for Social Enterprise, raiSE and Quest Ventures, a venture capital firm in Asia, aims to support budding impactful startups by providing financial and non-financial support to help them improve their competencies and gain access to regional and global markets.
During the ten-week programme, aspiring entrepreneurs will receive funding of up to $50,000 and exclusive access to a variety of masterclasses, allowing them to uncover valuable insights on business and social topics.
Additionally, they will gain access to mentors from world-class partners and investors from Quest Ventures and raiSE networks across Asia. For startups looking to scale their business, they will also have the opportunity to raise additional funding from investors during pitch events and unlock access to Quest Family Benefits worth over $1 million.
Since launching in 2022, companies from the first cohort of the Sustainable Impact Accelerator have collectively pitched to over 2,000 investors, corporates, government organisations, and other stakeholders across Asia within the first three months of the programme. Some companies have also successfully raised their next funding round within a few months and gained a foothold in overseas markets such as Australia, Malaysia, Indonesia, and Vietnam.
One of the startups from the first cohort is SoundEye, a social enterprise that provides innovative and smart safety solutions. The company designed Lasso – a camera-free device that detects and notifies caregivers and users of falls or emergencies using sound, laser, and radar sensors without infringing on users' privacy.
Since participating in the 2022 Sustainable Impact Accelerator, the startup has won several accolades and expanded its footprint into Vietnam and Japan.
James Tan, Managing Partner of Quest Ventures, said, “Socially impactful enterprises can also scale like high-growth startups, unlocking capital and resources to impact more people regionally and globally. Building upon the success of the first cohort, we look forward to partnering with raiSE again to propel high-potential impact businesses forward in their journey.”
“Social enterprises use their business to create impact intentionally and strategically, going beyond ad-hoc CSR initiatives,” said Alfie Othman, CEO of raiSE. "Our Sustainable Impact Accelerator can provide these impact enterprises with the investment, connections, and strong network they need to scale up their businesses and impact. We strongly encourage startups looking to make a social difference to apply for our second cohort.”
Enterprises interested in applying for the Sustainable Impact Accelerator should meet the following criteria:
- Have proven revenues and enthusiastic users
- Have a clear intent or track record to integrate human-centred social impact
- Have the potential for double-digit year-on-year growth over the next one to five years
- Plan to raise an institutional investment round within the next 12 months
- Startups will need to be registered as raiSE Social Enterprise members before the start of the programme
For more information and to register for the programme, visit the website here. Applications will close on Jan 31.
