Social Etrepreneur Incubator Launched in Taiwan
Members of Taipei City-based Social Enterprise Insights give the thumbs-up July 1 to their Do it and Try it funding programs. (UDN)
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A social entrepreneur incubation platform based on the U.K.’s UnLtd model was launched July 1 in Taiwan, according to program operator Social Enterprise Insights.
“We launched iLab to bridge the gap between startup competitions and venture capital financing,” SEI founder Sunny Lin said. “We aim to serve as an incubator for social enterprises.”
The iLab concept is licensed from UnLtd, a charitable organization that provides funding, mentorship and networking support for social entrepreneurs around the world. Both organizations strive to tackle social problems through innovative solutions by fostering business ventures.
A similar model is the Grameen initiative launched by Bangladeshi Muhammad Yunus, who won the Nobel Peace Prize in 2006 for pioneering the concept of microcredit and microfinance.
The Taiwan branch of Yunus’s Grameen network is scheduled to commence operations in the second half of the year. It is expected that Grameen and iLab will considerably boost local social entrepreneurship development as prioritized by the central government.
“What iLab offers social entrepreneurs is confidence more than capital,” Lin said. “We aim to provide a comprehensive range of resources supporting these enterprises to change society for the better.”
Initially, iLab plans to launch two funding programs Do it and Try it. The former is expected to seed six startups to the tune of NT$100,000 (US$3,347) each for a year, while the latter will back 12 for NT$30,000 each for six months. Write to Taiwan Today at [email protected]
All of the startups business plans and results will be available online, serving as a valuable reference for aspiring enterprises. (YHC-JSM)
Write to Taiwan Today at [email protected]