NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, August 6, 2018

The Australian Embassy, the United Nations Development Programme (UNDP), and the Philippine Development Foundation (PhilDev) have partnered to deliver a world-class mentorship program for innovative social enterprises in the Philippines.

The Innovation for Social Impact Partnership (ISIP) is a 3-year project that aims to support promising social enterprise startups to grow and become globally competitive, contributing to broader and inclusive economic growth in the Philippines. The project will provide technical support and improved capacity to access capital and attract impact investors.

“Australia is pleased to be able to support innovative social enterprises in the Philippines as a pathway to economic growth. I encourage entrepreneurs, especially those that offer science and technology-based solutions, to take part in this initiative,” said Australian Ambassador to the Philippines Amanda Gorely.

UNDP Philippines Country Director Titon Mitra said the partnership “will support some of the most innovative Filipino social enterprises in their early stage of business development to become sufficiently ‘bankable’ so that they can attract funding from impact investors.”

“There is immense entrepreneurial potential here that can be tapped to make a significant contribution to sustainable development in the country,” Mitra added.

In line with ISIP’s strategy on entrepreneurship, applications are now open for the Social Impact Accelerator. The Innovation for Social Impact Accelerator is an intensive 6-month program where selected Social Enterprises will receive free network and mentorship support that will allow them access to markets, talent, capital, and guidance from world-class mentors, advisors, and partners.

“Through the Social Impact Accelerator, PhilDev aims to support social enterprises that are not only innovative, but also impactful. PhilDev will bring in its knowledge and expertise in technology to enable SEs to scale up and become more investible.” said Dado Banatao, PhilDev Chairman.

The application period for the Innovation for Social Impact Accelerator Program ends on August 8, 2018. For more information about the Social Impact Accelerator, visit www-isip-ph.com or e-mail isip.ph@undp.org.

Photo courtesy of I Travel Philippines.