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What is the VentureForGood Grant?

The VentureForGood (VFG) grant is a funding scheme under raiSE to support social enterprises in various stages of their business. New and existing social enterprises who are starting up or expanding their operations can apply for up to $300,000 in grants.

Who can apply for the VentureForGood Grant?

The raiSE Grant is open to all new and existing locally based social enterprises that are registered/ intend to register under the Companies Act or Co-operative Societies Act. For applicants who have not incorporated their business at the point of application and are in the process of prototyping, a partnership with a relevant Social Service Agency (SSA) and/or validations with intended beneficiary groups should be illustrated.

The company should be incorporated and be registered as a raiSE member at the point of grant disbursement.

The social enterprise should be addressing a local social gap/need through one or more of the following outcome areas to be eligible:

Beneficiary-focused
- Provision of employment opportunities
- Provision of good and services, in the areas of (i) education, (ii) skills development, (iii) basic human needs, (iv) economic tools and services and (v) health care / social care.

Non-beneficiary focused
- Capacity building for organisations in the social sector
- A social gap (identified by a public sector agency) that is not specifically targeted at beneficiary groups, but delivering impact to build resilient communities. Examples include mental health & well-being, ageing, caregiving and also emerging needs such as food and water security.

Who do we consider as beneficiaries?

We consider people or communities who are facing problems that will affect their social and economic well-being as ‘beneficiaries’. Generally, this occurs when there is deprivation in at least one of the following areas:
• Economical
• Physical
• Mental
• Social

Some examples of groups that have relatively higher percentage of people who are in need or at risk of being in need includes:
• People/Families with low income
• People with health conditions
• People with disabilities*
• Ex-offenders
• Disadvantaged youths
• Disadvantaged elderly

*Note: People with special needs will come under people with disabilities.

What do we look for in applications?

Applications must show that the social enterprise has:

A Compelling Social Objective

• Clear engagement model to sustain social objectives that addresses a gap/need in Singapore.
• Prior engagements with validation from SSAs, sector experts and intended beneficiary groups are encouraged. For seed and growth grants, proposed interventions or social objectives should preferably be validated with a pilot/proof of concept.

A Viable Business Proposition

• Strong business model and feasible operations plan. Proposal should include information such as potential size, market survey, product differentiation, product pricing, potential competitors and strategies to sustain the business.
• Reasonable organisational capabilities and capacity to carry out its plans to achieve sustainability and growth.

A Committed Team

• Management and implementation team should demonstrate commitment and ability to execute proposal.
• Members of the team should possess relevant experience and expertise in the market/ industry that the social enterprise operates in. The team should also preferably possess some experience in working on the social need.
• Management and implementation team possesses a mind-set geared towards results, accountability, sound business principles and a clear understanding of the social need.

 

The raiSE ‘VentureForGood’ Grant is supported by Ministry of Social and Family Development.

Contact Us

Contact Us

Email us at vfg@raise.sg for enquiries regarding your VentureForGood application.
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