Yayasan Hasanah, the impact-based foundation of Khazanah Nasional Berhad (Khazanah), has announced the commencement of the Hasanah Social Enterprise Fund 2023 (HSEF2023).
This funding program aims to continue its pioneering efforts in catalyzing the growth of small and medium enterprises in Malaysia that are dedicated to creating positive social or environmental impacts.
Backed by the Ministry of Finance (MoF) and managed by Hasanah, HSEF2023 is open to all businesses registered in Peninsular Malaysia, Sabah, or Sarawak that are committed to advancing both their commercial and social and environmental goals.
In its inaugural year, HSEF2022 successfully disbursed a total of RM4.64 million to 32 deserving entities.
This year, HSEF2023 endeavours to broaden its reach by extending support to all types of scalable enterprises that align with social and/or environmental objectives.
These enterprises should demonstrate the capability, interest, and potential to expand and develop their businesses, missions, and organizations in line with Hasanah’s focus areas: Education, Community Development, Environment, and Arts and Public Spaces.
Dato’ Shahira Ahmed Bazari, trustee and managing director of Yayasan Hasanah, emphasised the organisation’s pivotal role in fostering the impact space in Malaysia.
She stated, “As the nation’s largest grant maker, we are committed to amplifying the force of impact-driven businesses in our nation – bridging the gap between traditional and innovative funding models, which is crucial for the long-term sustainability of these enterprises.
“Through our collaboration with the Ministry of Finance (MoF), HSEF2023 ensures the commercial viability and growth of the impact space, while nurturing entrepreneurship for the greater good in our country.”
HSEF 2023 will be available through three categories:
- The ‘Seeding Path’ provides funding of up to RM100,000 in the form of a grant to support the developmental purposes of the recipient organization.
- The ‘Growth & Scale Path’ offers funding up to RM500,000 in the form of a zero-interest rate loan, followed by an evaluation of the proposed repayment amount and period based on the applicant’s performance in meeting financial and impact targets.
- The third category specifically caters to applicants who are SE Accredited (SE.AC) and possess certification from the Ministry of Entrepreneur and Cooperatives Development (KUSKOP). Recipients under this category are eligible to apply for a zero-interest loan of up to RM750,000.
Applications for HSEF2023 are now open. Interested parties can apply through the official website at yayasanhasanah.org/hsef2023. The application period will remain open until 30 December 2023 or until the fund allocation has been fully committed.