Press Release: LSE’s 100X Impact Accelerator Announces New Initiative for Future Social Unicorns in Southeast Asia
100x Impact Accelerator, the world’s leading impact accelerator powered by the London School of Economics and Political Science (LSE), is deepening its commitment to scaling impact-first ventures in Southeast Asia. In partnership with UBS Optimus Foundation, 100x aims to significantly contribute to the region’s growing social innovation movement.
With over a million impact-first organisations in Southeast Asia, social ventures are the backbone of vital sectors ranging from agriculture to healthcare, education, and climate action. However, these ventures need more than ambition in order to scale. Many in Southeast Asia still face significant barriers in accessing the right support to unleash their full potential.
Kieron Boyle, CEO and Director of 100x Impact Accelerator, said, “We see immense potential for disruptive social innovation in Southeast Asia. But for these ventures to truly scale, they need the right resources and connections, which we’re excited to bring with this new philanthropic initiative.”
100x Impact Accelerator brings to this market a combination of world-class resources, the rigorous expertise of the LSE, and the support of a global network of partners.
“Our partnership with 100x Impact Accelerator is a significant step in driving greater impact in Southeast Asia as there is a clear need to channel more capital, networks and support to enable high potential, impact-first organisations to scale their work.
“Together with 100x, we aim to build a robust pipeline of high-potential social ventures and connect other investors committed to scaling positive impact in the region,” said Sheryl Fofaria, Head of Social Impact and Philanthropy, UBS Southeast Asia.
Building on the success of its global programme — which has seen over 2,500 applications from leading impact ventures across 100 countries — 100x will now evolve its proven model into Southeast Asia with an initial US$2 million pilot. Ventures selected for the programme will benefit from US$200,000 catalytic capital, strategic and impact measurement support and access to a global network of experts and funders.
“Our goal is to create cohorts of future social unicorns – organisations affecting positive change on the scale of billions. Deepening our reach in a region full of bold and visionary entrepreneurs is an exciting step towards realising this mission,” Kieron added.
Photo courtesy of Edward Howell.
Source: 100x Impact Accelerator (link opens in a new window)
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